Premiums on the term portion of your policy are also paid until age 90, but have a limited guarantee period. Back to top Nonforfeiture options To protect yourself if you are ever unable to pay your policy premiums, you can choose one of our four nonforfeiture options. You must let your representative know if you want to include one of these options when you apply for the policy. If this option is not elected, or if the cash value will not cover the premium amount, the nonforfeiture option will default to Extended Term Insurance. Keeps the full death benefit in force by using the cash value of the policy to purchase Extended Term Insurance.
Coverage then terminates.
Keeps some level of protection in force by using the policy's entire cash value to purchase paid-up whole life insurance. The paid-up policy remains in force until the insured dies. Any outstanding loan balance and accrued loan interest will be deducted from the cash value. The following benefits are subject to underwriting . For premiums to be waived, total disability must exist continuously for a period of six months and result from an accident or sickness.