What Is Paid Up Whole Life Insurance? 
This is a type of Whole Life . The Paid up refers to the fact that the premium for your entire lifetime is paid in advance , so no further premiums will be due in the future , for your lifetime . Whole life means that the policy also has cash value during your lifetime , meaning you can borrow against that cash value anytime you wants for anything you want . If you choose never to repay that loan , the amount is deducted from your death benefit , but you keep the money tax free on the loan . There is also Equity Indexed Universal Life you may want to consider . That policy can have living benefits , you do not have to die to use . If you become chronically sick or critically sick or terminally sick , you can access not just the cash value but the death benefit while you are living , long before your death . You could contact a Premier Financial Alliance Associate to get details on both of these programs . PFA is the largest broker for National Life Group , one of America 's five oldest insurers . Thank you . GARY LANE . 714 422 9616 . 