Pour heavy cream into a large mixing bowl or the bowl of a stand mixer. Use a hand mixer or stand mixer on medium-high speed to whip the cream until it holds stiff peaks (3 minutes – less if you’re using a stand mixer).
Add sweetened condensed milk and vanilla bean paste to whipped cream. Fold together until just combined and silky and smooth. A few small lumps may remain; it’s important not to over mix as that will deflate the mixture.
Spread into a 8 or 9-inch loaf pan. Freeze for at least 6 hours or until firm (I cover with foil to prevent freezer burn).
If desired, lightly fold in flavor variations before freezing. Some ideas: mini chocolate chips or M&Ms, toasted coconut, lightly crushed cereal or graham crackers, crushed Oreos, chocolate chip cookies, gingersnaps, or butter cookies.
To store, transfer ice cream to a freezer-safe container that has a good resealable lid. It will keep for up to 3 months.