Nonforfeiture Values - How to Discuss

Definition of Nonforfeiture values:

1. The parts of a policy that cannot be denied to the policyholder, even if he or she stops paying the premiums. The policyholder may choose either the paid up surrender value, the cash surrender value, the loan value, and the extended term insurance value. If he or she does not choose one of these, there is one specified in the contract that will take effect.

Nonforfeiture Values,

Nonforfeiture Values:

Meaning of Nonforfeiture Values: In the case of life insurance, the insured has the benefit of being entitled at the end of the policy for non-payment of the insured premium. This benefit is usually the amount of life insurance paid or cash. All states have non-binding laws that require life insurance policies to disclose non-confiscated amounts in the policy guide.

Nonforfeiture Values refers to In the event of cancellation, the cash value of the insurance or other form of policy. Also available to policyholders if required premium is not paid.