What does Extended Term Insurance mean? Read on to discover the definition & meaning of the term Extended Term Insurance - to help you better understand the language used in insurance policies.
Extended Term Insurance
One of the nonforfeiture options contained in most whole life and endowment policies; it provides that the policy owner may elect to have the cash surrender value of the policy used to extend the coverage for whatever term period the cash value will purchase.
We hope the you have a better understanding of the meaning of Extended Term Insurance.