Choose the option(s)available in the nonforfeiture clause of a cash-value life policy.

Question

Quizplus · Accepted Answer

The nonforfeiture clause of a cash-value life policy typically offers three options: exchange the policy for a paid-up term policy of equal face value, receive the policy's cash value, or exchange the policy's cash value for a paid-up policy with a reduced face value. Option E includes all three of these choices and allows the policyholder to retain some value from the policy regardless of whether they continue making premium payments.

Choose the Option(s)available in the Nonforfeiture Clause of a Cash-Value