Answer:
Paid up additional or paid up option
Explanation:
Paid up additional insurance is bought with the extra premiums or dividends which is in addition to the required premiums and it will instantly increase the death benefits as well as the cash value of the policy.
In this case, Frank has purchased life insurance policy in which he has chooses to have the dividends increase the death benefit. Therefore, it can be concluded that he has opt for paid up option.
