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 (1) the size of the cash value and (2) the attained age of the insured.
Extended Term Insurance
| Insurance Dictionary: Extended Term Insurance |
| 5min Related Video: Extended Term Insurance |
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 | Nonforfeiture Benefit (Option) (insurance term) |
| Nonforfeiture Provision (business term) |
| Manual (insurance term) |
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 | Insurance Dictionary. Dictionary of Insurance Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved. Read more |
Related answers
- What is extended term insurance on a lapsed Whole Life Policy?
- Is there any age limit for which Extended Term Insurance cannot be granted?
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Mentioned in
- Nonforfeiture Benefit (Option) (insurance term)
- Nonforfeiture Provision (business term)
- Manual (insurance term)
- Wright, Elizur (insurance term)
- Dividend Option (insurance term)
- EC
