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nonforfeiture value

[non-fawr-fi-cher] /nɒnˈfɔr fɪ tʃər/
noun, Insurance.
1.
any benefit, as cash or other form of insurance, available to a life-insurance policyholder who discontinues premium payments on the policy.
Also called nonforfeiture benefit.
Origin
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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