Guertin Laws

Standard State Valuation and Nonforfeiture Law approved by the National Association of Insurance Commissioners (NAIC) in 1942. This law is named for Alfred N. Guertin, the actuary who headed the NAIC committee that studied the need for a new mortality table to be used in calculating life insurance nonforfeiture values. In essence, application of this law guarantees that an insured is entitled to all benefits for which the life insurance company has received premiums. The insured cannot be made to forfeit the equity that has built up in a life insurance product. See also Nonforfeiture Benefits (Option).