Extended term insurance

{
  "id": "MLC-T-INS-001429",
  "term": "Extended term insurance",
  "field": "Insurance and risk management",
  "definition": "A non-forfeiture option available in a whole life insurance policy, allowing the policyholder to use the policy's cash value to purchase a new term life insurance policy. The new term policy has the same face amount as the original whole life policy. Its duration is determined by the amount of cash value available.",
  "url": "https://mlchart.com/terminology/insurance/extended-term-insurance/"
}