What Is A Fully Paid-Up Life Insurance Policy? 
A fully paid up life insurance policy means that no premiums are necessary to keep the policy in force . Depending on how the policy was built , the paid up status may be sometime in the future because you are paying more premium initially . Or the paid up status could be immediate . Whole Life Insurance often times has a paid option during the premium paying years . You might see on an illustration a paid up column meaning that is the death benefit you can get if you stop paying premium at that time . 