nonforfeiture value

[ non-fawr-fi-cher ]

  1. any benefit, as cash or other form of insurance, available to a life-insurance policyholder who discontinues premium payments on the policy.

Origin of nonforfeiture value

  • Also called nonforfeiture benefit.

Words Nearby nonforfeiture value Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023