What is Extended Term Insurance? | LIFE-HEALTH Exam Prep

Extended term insurance is a nonforfeiture option that uses the cash value of a permanent life insurance policy to purchase paid-up term insurance for the same face amount, lasting as long as the cash value allows. 📚 Learn more about Extended Term Insurance and other key terms for your LIFE-HEALTH exam at Open Exam Prep. 🎯 This term appears on: LIFE-HEALTH 🔗 Full glossary: https://www.open-exam-prep.com/glossary 🔗 Extended Term Insurance definition: https://www.open-exam-prep.com/glossary/extended-term-insurance 💡 Exam Tip: Extended term = SAME face amount for LIMITED time. Reduced paid-up = REDUCED face amount for LIFETIME. Know the difference! --- #insurance #examprep #financeexam #life-health