What happens when a whole life policy is paid up ?

Paid-up whole life insurance** can provide lifelong coverage without requiring you to continue making premium payments. But what actually happens to your policy once it becomes paid up, and what happens to the cash value?

In this video, we explain what happens when a whole life insurance policy is fully paid up and the different ways a policy can become paid up. You’ll also learn why becoming paid up does not necessarily mean you can automatically receive the policy’s cash value as a lump sum.

In this video, you’ll learn:

* What happens when a whole life policy becomes paid up
* The difference between scheduled paid-up insurance and reduced paid-up insurance
* How cash value may continue to grow
* How dividends and paid-up additions can affect your policy
* Your options for keeping, borrowing against, or surrendering the policy
* How policy loans or surrendering coverage can affect your benefits
* What to check before making a financial decision

The details can vary depending on the insurer, policy type, state, and whether the policy includes guaranteed or dividend-based values. Before taking money out, requesting an updated in-force illustration can help you compare your cash value, surrender value, death benefit, and outstanding loans.

Watch the full video to understand your options, and leave a comment if you have questions about **paid-up whole life insurance**.

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