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nonforfeiture value

[ non-fawr-fi-cher ]
/ nɒnˈfɔr fɪ tʃər /
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noun Insurance.
any benefit, as cash or other form of insurance, available to a life-insurance policyholder who discontinues premium payments on the policy.
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Also called nonforfeiture benefit.

Origin of nonforfeiture value

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2022

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