Glossary entry

English term or phrase:

paid-up contract

Spanish translation:

contrato (totalmente) pagado / cubierto

Added to glossary by Noemi Carrera
Dec 26, 2001 23:39
22 yrs ago
7 viewers *
English term

paid-up contract

English to Spanish Bus/Financial investment funds / life insurance
"'paid-up contract' means a Contract which would be otherwise terminate due to the non-payment of Regular Contributions and where the Contract has a Surrender Value, but the contract continues in force subject to certain conditions".
- The Contract shall only be converted into a Paid-Up Contract where a written request signed by the Contract Holder to convert the Contract to a Paid-Up Contract has been received

Do you know the appropriate expression for this type of contract? Thank you.

Proposed translations

+4
3 mins
Selected

contrato (totalmente) pagado / cubierto

No encontré la frase en mi diccionario de términos financieros, de modo que deduje la respuesta por analogía
(paid-up share : acción cubierta;
paid-up capital: capital desembolsado)
Peer comment(s):

agree AndrewBM : contrato pagado
36 mins
Thank you.
agree O María Elena Guerrero
2 hrs
Gracias, María Elena.
agree Susana Cahill
3 hrs
Gracias, Susana.
agree Noony
11 hrs
Thank you.
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4 KudoZ points awarded for this answer. Comment: "Thanks a lot for your help."
7 hrs

Contrato liberado

because the contract does have a surrender value.

HTH

Rick
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19 hrs

póliza integrada

Based on the fact that the context refers to life insurance, I assume it could be a "contract" of insurance, in other words, a policy, and a paid-up policy is translated as "póliza integrada", that is, a policy on which no further payments are to be made in the way of annual premiums.

Definition of paid-up policy as per West's Law & Comm. Dic.

Regards, Sery


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Note added at 2001-12-27 19:06:48 (GMT)
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Surrender Value: In insurance, the current value of a policy which will be paid to the policyholder when he elects to surrender the policy.
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