1. Plural of nonforfeiture; provisions in insurance policies that protect the policyholder's rights and benefits even if premiums are not paid on time.
Usage: insurance/finance term; typically used in the context of life insurance and annuities

Examples

• The insurance policy included several nonforfeitures that protected the customer's investment.
• Nonforfeitures ensure that policyholders retain some value in their policies even if they stop paying premiums.
• Life insurance contracts typically contain nonforfeiture options such as paid-up insurance or cash surrender values.
• Understanding nonforfeitures is important when reviewing the terms of an annuity contract.
• The state regulations mandate that insurers offer nonforfeitures to protect consumer interests.