*paid_up policies*:(P.U.P)
State life can convert this policy into a paid policy, at the written request of the consumer, provided the policy has been inforce eventually 2 consecutive policy years and no premiums unit of measuring in default.No more premiums are collectable however the add insured are made.the reduced paid add insured are quoted by state life on the request of the customer.
Any bonuses hooked up to the policy are taken into thought whereas deciding the paid add insured.A policy once paid won't be entitled to from now on bonuses.If there area unit any outstanding dues of state life against the policy, the paid add insured are specially calculated to permit for the clearance of all such outstanding dues.
If the reduced paid add insured works bent on be lower than RS. 100/-, the policy won't be reborn in to a paid policy.
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