Question

67. A provision in a whole life policy that allows a policy owner to terminate the policy in return for a reduced paid-up policy of the same type is called a?

Answer 1

Answer:

nonforfeiture provision.

Explanation:

A nonforfeiture provision in a cash value life insurance policy allows a policy owner to terminate the policy in return for a reduced paid-up policy of the same type.) (A partial surrender allows the policyowner to withdraw the policy's cash value interest free.)