nonforfeiture benefit

non·​forfeiture benefit | \ "+- \
variants: or nonforfeiture value

Definition of nonforfeiture benefit

: a benefit (as in cash or insurance) received by a policyholder who after making premium payments for at least the minimum period as provided wishes to discontinue further premium payments

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Cite this Entry

“Nonforfeiture benefit.” Dictionary, Merriam-Webster, Accessed 22 Oct. 2020.

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