The answer to this question is the Extended term non-forfeiture option. An Extended term non-forfeiture option is an insurance option where in the insured will be allowed to stop or quit paying his or her premiums but the equity of the policy will not be forfeited. In this option, the insured may choose an option that involves in the return of the portion of the premiums paid, a pre-termination value of the policy, or a reduced benefit of the insurance claim until the said policy will be lapsed.
