Pembahasan Ujian PAI: A40 – No. 20 – November 2010

Non-forfeiture options are the choices available to a policy owner concerning the methods under which he or she can apply the policy’s cash surrender value when the policy expires. Three basic form

• Cash surrender, when a policy owner decides to terminate his or her policy and has elected the cash surrender value option, insurance protection stops and the insurer calculates the cash surrender value owed to the policy owner
• Reduced paid up
• Extended term insurance

^[1] Mulligan, E. and Stone, G. (1997). Accounting and financial reporting in life and health insurance companies. Atlanta, Ga.: Life Management Institute, LOMA.