What are “nonforfeiture values?”

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When a policyowner stops paying premiums on a permanent policy, its cash value accumulation or equivalent must be made available to the policyowner.

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When a policyowner stops paying premiums on a permanent policy, all premiums previously paid may be returned by the insurance company upon application.

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When a term policy expires, the policyowner need not forfeit his protection and may purchase permanent insurance for the same amount as the term policy within 30 days.

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When a policyowner stops paying premiums on a limited pay policy, he or she is entitled to receive its face amount in cash.

What are “nonforfeiture values?”

When a policyowner stops paying premiums on a permanent policy, its cash value accumulation or equivalent must be made available to the policyowner.

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