This Insurance Glossary of Terms is produced and maintained by the National Alliance Research Academy. 
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Non-Forfeiture Benefit Options

Provision that ensures the insured cannot lose the equity of a whole life insurance policy. A policy owner can select from three options under the provision: cash surrender value, extended term insurance, and paid-up insurance. If none is elected, a clause in the policy will stipulate the option that automatically goes into effect, usually extended term insurance.

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