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2:56 AM
what is extended term in life insurance
The company providing insurance uses the cash value of the policy to buy a term life insurance policy for the same death benefit using the cash value of the policy. This is one of the nonforfeiture options available to the insured in case a premium is not paid within the grace period. The death benefit will continue for the longest period the cash value will purchase.
The company providing insurance uses the cash value of the policy to buy a term life insurance policy for the same death benefit using the cash value of the policy. This is one of the nonforfeiture options available to the insured in case a premium is not paid within the grace period. The death benefit will continue for the longest period the cash value will purchase.
