Under the Standard Nonforfeiture Law, any cash value accumulation MUST be made available to the...

TheStandard Nonforfeiture Law, codified in Oklahoma at Title 36 O.S. § 4029, requires life insurance policies with cash value to provide nonforfeiture benefits if the policyowner stops paying premiums. These benefits ensure the policyowner can access the accumulated cash value through options like a cash surrender value, extended term insurance, or reduced paid-up insurance, preventing total loss of the policy’s value.

Option A: Correct. If the policyowner stops paying premiums, the cash value must be made available per the nonforfeiture law.

Option B: Incorrect. Contractual changes are governed by policy provisions, not nonforfeiture laws.

Option C: Incorrect. Disability may trigger a waiver of premium rider, but it does not directly relate to nonforfeiture benefits.

Option D: Incorrect. Bankruptcy does not trigger nonforfeiture benefits; it may involve creditor claims but is unrelated to premium cessation.

This question falls under the Prometric content outline section on “Provisions, Options, Exclusions, Riders, Clauses, and Rights,” which includes nonforfeiture provisions.