What is Nonforfeiture Options? | LIFE-HEALTH Exam Prep

Nonforfeiture options are provisions in permanent life insurance policies that allow policyholders to access accrued cash value if they stop paying premiums, rather than forfeiting all benefits. 📚 Learn more about Nonforfeiture Options 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 🔗 Nonforfeiture Options definition: https://www.open-exam-prep.com/glossary/nonforfeiture-options 💡 Exam Tip: Three main options: Cash Surrender, Reduced Paid-Up, Extended Term. Extended term keeps the SAME death benefit for a LIMITED time. --- #insurance #examprep #financeexam #life-health