Nonforfeiture Extended Term Benefit
Definition of "Nonforfeiture extended term benefit"
Right of a policyholder, in life insurance with cash values, to continue full coverage for a limited period, as shown in a table in the policy, with no further premiums payable.
Popular Insurance Terms
Coverage against loss as the result of a burglary. Found as part of the commercial package policy that has generally replaced the special multiperil insurance (smp) policy and the ...
Sum the insurance company is legally obligated to pay an insured for losses incurred. ...
Damaged insured property in receipt by the insurance company resulting from abandonment and salvage, subrogation, and reinsurance. ...
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