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 which option you want included when you apply. 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. The term insurance remains in force until the cash value from the 65 Life policy no longer covers the daily term insurance charges.
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 face value of the paid-up insurance will be less than the face amount of the 65 Life policy. 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.