Group paid-up insurance

A type of contributory group life insurance in which the employee's contributions are used to purchase paid-up whole life insurance and the employer's contributions are used to purchase term insurance. The amount of insurance coverage on each employee remains level each year. Therefore, as the amount of paid-up insurance on an employee increases over time, the amount of term insurance which the employer must purchase to make up the difference decreases.

Term Life Insurance
Universal Life
Variable Life
Whole Life
Burial Insurance

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