Ship owner, Vehicle-Owner or other person who carries goods and is responsible for their safety.
Ship owner, Vehicle-Owner or other person who carries goods and is responsible for their safety.
Those values in a Life Insurance policy that, by law, the policy owner cannot forfeit even if he ceases to pay the premiums. These benefits are the cash surrender value, the loan value, the paid-up insurance value, and the extended term insurance value. The policy owner may choose one of these non-forfeiture options, but even if he fails to do so, the one specified in the contract for such a case automatically goes into effect.