Insurance Glossary | ||||||
Group paid-up insuranceA 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.Copyright © 2001-2005 Free Online Insurance Quotes. All Rights Reserved. | Insurance Quotes Auto Insurance Boat Insurance Burial Insurance Business Insurance Dental Insurance Disability Insurance Health Insurance Homeowners Insurance Long Term Care Motorcycle Insurance Renters Insurance Survivorship Life Term Life Insurance Travel Insurance Universal Life Insurance Variable Life Insurance Whole Life Insurance | |||||