Question

Life Insurance Certification Exam 00:03:58 Question #14 of 50 The term nonforfeiture values refers to the fact that: A) when a policyowner stops paying premiums on a permanent policy, all premiums previously paid may be returned by the insurance company upon application B) when a term policy expires, the policyowner need not forfeit nis protection and may purchase permanent insurance for the same amount as the term policy within 30 days c) when a policyowner stops paying premiums on a permanent policy its cash value accumulation or equivalent must be made available to the policy owner D) when a policyowner stops paying premiums on a limited pay policy, he is entitled to receive its face amount in cash Previous Question 14 of 50 Check for Review Kaplan Inc. Al Rights Reserved Privacy Policies Terms & Condit De here to search op

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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

because,

Nonforfeiture Values — in entire life coverage arrangements, benefits that gather to the protected when the strategy slips from default of premium. These advantages are generally either a measure of settled up term disaster protection or a money give up esteem. All states have authorized nonforfeiture laws that necessitate that entire extra security arrangements determine the nonforfeiture values in a timetable in the approach.