paid-up

Definition of "paid-up"
  1. Describes a condition where no additional payments are needed
How to use "paid-up" in a sentence
  1. The insurance policy is now paid-up and does not require future premiums.
  2. After the last installment, the car loan became a paid-up loan.
  3. Upon completing all required installments, the mortgage turned into a paid-up mortgage.

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