/payd"up'/
life insurance in which a nonforfeiture value is used to purchase a reduced amount of fully paid-up insurance of the same kind as the surrendered policy.
/payd"up'/
life insurance in which a nonforfeiture value is used to purchase a reduced amount of fully paid-up insurance of the same kind as the surrendered policy.
Random House Webster's Unabridged English dictionary. Полный английский словарь Вебстер - Random House . 2012