/peɪd ʌp ˈpɒləsi/ – Noun
Definition: Đã thanh toán (chính sách) – Tình trạng khi mọi khoản phí bảo hiểm đã được thanh toán đầy đủ.
A more thorough explanation: if you make an insurance policy paid-up then it continues to run, but no further premiums need to be paid; a life insurance policy for which all premiums that are due have been paid
Example: Buying a paid-up policy is a good way to save on tax.