0
Hi,
I have some few knowledge regarding this nonforfeiture. I had only known that Standard life insurance and long-term care insurance may have nonforfeiture clauses. The clause may involve returning some portion of the total premiums paid, the cash surrender value of the policy, or a reduced benefit based upon premiums paid before the policy lapsed.
If you have any attorney issues regarding this then Law Office of Sebastian Ohanian is one of the best options for you.
Thank you
Wiki User
∙ 6y ago
Wiki User
∙ 15y agoIt means that if you don't pay your premiums, then rather than the policy lapsing, it will be term insurance for a period of time, with no cash value.
Wiki User
∙ 10y agoIt's some kind of reimbursement from the insurance company, should you decide to cancel your long term care (LTC) insurance policy.
Wiki User
∙ 15y agoIf the policy cancels, the cash value or extended term insurance.
Add your answer:
Earn +20 pts
Does Non-forfeiture options apply to term life insurance?
Non forfiture values apply only to Whole Life and UL life contracts.
When are non-forfeiture provisions used?
This is an interesting question! We've notified our experts in this category and we'll email you when there is a response.
What is a non forfeiture option on a long term care policy?
A non-forfeiture option in your long-term care policy is a feature that allows you to maintain some money if you decide to cancel your policy or if you fail to pay your premiums and the policy lapses. It is a sort of reimbursement by validating the minimum amount of your paid long-term care insurance premiums.
What is an amercement?
An amercer is a person who amerces - who imposes a fine on something, or who punishes someone for something.
What is non forfeiture?
It means that if you don't pay your premiums, then rather than the policy lapsing, it will be term insurance for a period of time, with no cash value.
What is non forfeiture option?
It means that if you don't pay your premiums, then rather than the policy lapsing, it will be term insurance for a period of time, with no cash value.
What is the purpose of free stock options?
Free stock options are often in the form of employee stock options, where an employee is offered stock in the company as a form of non-monetary compensation.
What is the definition of the term non-qualified stock options?
Non-qualified stock options (NSO) is a form of employee stock option. In this stock, the employee pays normal income tax on the difference between the grant and the price of the stock.
What has the author Ciara Murphy written?
Ciara Murphy has written: 'Non standard executive stock options' -- subject(s): Stock options, Salaries, Executives
What are the alternatives to cystectomy?
Transurethral resection (TUR). Non-surgical options include chemotherapy and radiation.
What is non cash expenditure?
Spending money, but rather than cash, you use a non-cash asset of value. For example, companies that give there employees stock options are incurring a non-cash expense.
Is there a non dairy Ensure?
There are several non-dairy products available that are like Ensure. These include options like Amazing Meal, NutraDrink, and Genisoy Shakes.
