\nˌɒnfˈɔːfe͡ɪt͡ʃə klˈɔːz], \nˌɒnfˈɔːfeɪtʃə klˈɔːz], \n_ˌɒ_n_f_ˈɔː_f_eɪ_tʃ_ə k_l_ˈɔː_z]\
Definitions of NONFORFEITURE CLAUSE
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A clause in an insurance that allows for a partial or complete receipt of benefit, or a partial refund in the event that the insured ceases payment of the premiums due on a policy, causing a policy lapse. Usually, this clause is only in effect for a certain period of time or comes into effect after a certain period of time has lapsed.
By Henry Campbell Black