Extended term insurance can be selected under which whole life policy provision?

The interest-only option typically refers to a settlement choice where the insurer pays only the interest earned on the policy's cash value to the beneficiary, rather than the principal amount. This option does not relate to the selection of extended term insurance and is not a provision related to maintaining coverage after premium payments cease.

The cash value provision refers to the savings component of a whole life policy that accumulates over time. While policyholders can access this cash value, it does not grant the option of selecting extended term insurance, which is specifically addressed under the nonforfeiture provision.

The settlement option pertains to how the death benefit is paid to beneficiaries, such as in a lump sum or through structured payments. It does not relate to the policyholder's ability to select extended term insurance, which occurs under the nonforfeiture provision.