Make sure you are guaranteed life insurance coverage.
Non-forfeiture options explained: these are the options that you have left if you are unable to pay your insurance premiums. Generally these options are benefits that are far less helpful than the benefits you would be getting if you’d managed to continue paying your insurance premiums. However, these benefits are far better than what you would be getting if your insurance policy did not have any non-forfeiture options at all. If you’re not sure whether or not the insurance company that you’re thinking of buying from will offer non-forfeiture options, be sure to ask.
In some cases, the insurance companies that offer the best non-forfeiture options also have higher price tags on their premiums. The reason for this is that non-forfeiture options generally mean that the insurance company is no longer getting any money from you, but there is still a chance that the company will have to pay out some money in a claim.
As a result, most insurance companies that have good non-forfeiture options also require high premiums. That way, it is possible for the insurance companies to stay in business. Life insurance policies are not the only types of insurance where you can look for non-forfeiture options. However, they are the most important. Non-forfeiture options can mean that your family is supported after your death, as long as you have them. The reason for this is that the most common life insurance non-forfeiture options will at least pay out a limited amount. In some cases, you can also get death benefits as a non-forfeiture option.
In some cases, if you are looking for insurance that offers non-forfeiture options, you’ll be asked to choose the options when you purchase the policy. At that time, you should decide what your biggest risks are. If you think that your family will need benefits if you die, then you should go with a death benefit option. However, if you think that you are at risk for serious injury, you might want to go with a non-forfeiture option that will give you at least partial coverage when you would ordinarily get your full benefits.