Which of these is NOT a nonforfeiture provision contained in a life insurance policy?

The correct choice identifies the automatic premium loan as not being a nonforfeiture provision. Nonforfeiture provisions are designed to protect the policyholder by ensuring that they do not lose the value accumulated in their life insurance policy if they stop making premium payments.

The cash surrender value represents the amount the policyholder can receive if they decide to terminate the policy before its maturity. This value accumulates over time and illustrates the policy's savings component, making it a key nonforfeiture provision.

Extended term insurance allows the policyholder to convert their accumulated cash value into a term life insurance policy once premiums have stopped. This enables them to maintain a level of life insurance protection without further payments, thus fulfilling the essence of nonforfeiture provisions.

Nonforfeiture guarantees are specific commitments made by the insurer to the policyholder about the benefits they will retain in case of default in premium payments. These guarantees ensure that the policyholder has options concerning the value created within the policy, reinforcing the concept of nonforfeiture proffered by life insurance contracts.

In contrast, the automatic premium loan is a provision that enables the insurer to borrow against the cash value to cover the premium payments if the policyholder fails to pay on time. While this can