standard nonforfeiture law

  • A standard law, enacted in most states in the late 1940s, defining the minimum basis for cash surrender and nonforfeiture values in life insurance policies.

    Internal Revenue Service 1

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).