The status Below Min Bid refers to keywords that are active, but have a bid below the publisher minimum bid.

For Google, the minimum bid is Google's estimate of the bid required to reach the first page. Because your ad appears beyond the first page, keywords with this status may show little to no traffic.

The 'Campaign Paused' Status

Occasionally you may see another status such as Campaign Paused appear in your keyword list when applying a Below Min Bid filter.

This suggests the keyword is below the publisher minimum bid, but is also affected by the status of an item higher up in the hierarchy, in this case a paused campaign.

In general, an item impacted by multiple statuses like a keyword, show the status of an item, like a campaign or group, further up the hierarchy.