In valuing a life insurance policy that has not matured (i.e. ,the insured is still alive),it makes a difference whether the policy is paid up.

Name: In valuing a life insurance policy that has not matured (i.e. ,the insured is still alive),it makes a difference whether the policy is paid up.
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The fact that the policy is paid up means that no more premiums need to be paid and therefore affects the current cash value of the policy. This, in turn, affects the valuation of the policy.

In Valuing a Life Insurance Policy That Has Not Matured