Extended Term Insurance

Definition of "Extended term insurance"

Nancy Danyo Cuddihy real estate agent
Nancy Danyo Cuddihy, Real Estate Agent Premiere Realty Group LLC

Nonforfeiture option that uses the cash value of an ordinary life policy as a single premium to purchase term life insurance in the amount of the original policy. The length of the term policy depends on the size of the cash value and the attained age of the insured.

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