Which of the following is NOT classified as a nonforfeiture option in a whole life insurance policy?

Nonforfeiture options are provisions in a whole life insurance policy that allow the policyholder to receive benefits or a different form of coverage if they stop paying premiums.

Reduced paid-up insurance allows the policyholder to use the cash value of the policy to purchase a new policy with a reduced death benefit but without additional premium payments. This maintains some level of coverage while capitalizing on the cash value accrued.

Extended term insurance takes the cash value and uses it to provide term insurance coverage for a specified period, effectively converting the policy into term insurance without the need for further premiums.

Cash surrender value refers to the amount the policyholder can receive if they decide to terminate the policy. It represents a way to access the policy's cash value, providing an immediate benefit to the policyholder.

In contrast, interest-only is not classified as a nonforfeiture option. This is typically a method of paying out death benefits rather than a means of preserving value within the policy itself. It involves the insurer holding the death benefit in an interest-bearing account, providing the beneficiary with interest payments without an immediate lump sum, which does not align with the idea of nonforfeiture and maintaining insurance coverage.

Understanding these distinctions is crucial for recognizing how various options related to whole