NONFORFEITURE

"The nonforfeiture law protects the rights of policyholders by ensuring that they don't lose all the benefits they've accrued if they can no longer make premium payments."

"The nonforfeiture option can be an important feature for people who want to maintain some form of life insurance coverage even when they can't afford to pay the premiums."

"In case of policy lapse, the nonforfeiture benefit can provide the policyholder with a cash value or a reduced paid-up policy based on the amount of premiums paid."

"Many states have regulations that require insurance companies to offer nonforfeiture options in certain types of life insurance policies."

"Choosing the nonforfeiture option may result in a decrease in the death benefit or a reduction in the amount of coverage provided by the policy."