Choose the Option(s)available in the Nonforfeiture Clause of a Cash-Value

question 41

Multiple Choice

Choose the option(s) available in the nonforfeiture clause of a cash-value life policy.

• A)Exchange the policy for a paid-up term policy of equal face value.
• B)Receive the policy's cash value.
• C)Retain rights to a death benefit.
• D)Exchange the policy's cash value for a paid-up policy with a reduced face value.
• E)A,B,and D above

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Definitions:

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Mirror Image Rule

A principle in contract law that requires the acceptance of an offer to be identical to the offer itself, without any modifications, for a contract to be legally binding.

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