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单词 nonforfeiture clause
释义

nonforfeiture clause

Definition
In an insurance policy, a clause that will allow for the insured individual to receive all or some of the benefits or a partial refund on the premiums that have already been paid if the insured stops paying their premium resulting in a policy lapse. Often a nonforfeiture clause will only stay in effect for a certain time period or it may only become active if the policy has been in force for a certain amount of time.
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更新时间:2025/3/9 22:33:37