Nonforfeiture values

{
  "id": "MLC-T-INS-002338",
  "term": "Nonforfeiture values",
  "field": "Insurance and risk management",
  "definition": "The benefits available to a life insurance policyholder who discontinues premium payments on a policy that has accumulated cash value. These options prevent the forfeiture of the accumulated value and include cash surrender value, reduced paid-up insurance, and extended term insurance. The specific nonforfeiture values are outlined in the policy contract and regulated by state insurance laws.",
  "url": "https://mlchart.com/terminology/insurance/nonforfeiture-values/"
}