Cash-surrender value when a cash-value policy

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Reference no: EM131047815

All states have nonforfeiture laws that require the payment of a cash-surrender value when a cash-value policy is surrendered. Briefly explain the following nonforfeiture options that are found in a typical life insurance policy.
a. Cash-value option
b. Reduced paid-up insurance
c. Extended term insurance

Reference no: EM131047815

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