A Non-forfeiture
clause is a clause in an insurance policy that is designed to allow the insured
to receive all or a portion of the benefits, or a partial refund on the
premiums that were paid, if the policyholder were to miss any premium payments,
in turn causing the policy to lapse. After the policy has been active for a few
years, the non-forfeiture clause may become available to the insured, but only
for a short period of time.
