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Meaning of nonforfeiture value

non•for'fei•ture val"ue

Pronunciation: (non-fôr'fi-chur), [key]
— Insurance. 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
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.