paid up

Meanings

• adjective

  Having paid the full amount of a debt or an insurance premium before its due date.

  - "The policyholder decided to go paid up on his insurance policy."
  - "The company offered a discount to customers who paid up their bills in advance."

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Rhymes

Words rhyming with paid up
stay , play , Bay , day , Bay

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Variants

List of all variants of paid up that leads to same result
pay up , payed up , paying up , pays up , be paid up

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Etymology

origin and the way in which meanings have changed throughout history.

The term 'paid up' is derived from the past participle of the verb 'pay'. It indicates that a debt or an obligation has been fully settled.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. Did you know that the term 'paid up' is commonly used in the insurance industry?

2. In the context of insurance, being paid up means that the policyholder has no further premium payments to make.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Insurance premium: A payment made by an insurance policyholder to cover the risk of a potential loss.

2. Insurance policy: A contract between an insurer and a policyholder that provides coverage for specified risks.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

In insurance, being paid up means that the policyholder has paid all the premiums due for the policy and the coverage will continue until the policy term ends.

How to Memorize "paid up"

1. visualize
   

   - Visualize a person handing over money to pay off a debt completely.

2. associate
   

   - Associate the term 'paid up' with the idea of having fully settled a debt or obligation.

3. mnemonics
   

   - Use the mnemonic 'Paid Up = Paid Off' to remember the meaning of the term.

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