Due to the nature of permanent life insurance policies, they normally acquire cash surrender values after some period of continued premium payments (normally two to three years). This provision should spell out the nonforfeiture benefit options available to a policyholder who decides to stop paying renewal premiums. Such options normally include payment of the surrender value in cash, extended term insurance or reduced paid up insurance. All permanent life insurance policies should contain a Table of surrender Values per 1,000 of coverage for all issue ages and duration combinations.  

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