10. Auto Non-Forfeiture Provisions

Type	When To Do	Forms/Requirements	Remarks
10. Automatic Non-Forfeiture Provisions	When premium is not paid after the expiry of the grace period and no non-forfeiture options has been elected		Automatic Premium Loan (APL): If the cash value is greater than the premium in default, the company will advance the premium due as an APL. APL will be charged on an interest of 8% per annum. Extended Term Insurance (ETI): If cash value is insufficient to cover the premium in default, an extended term insurance operates. Policies under ETI may be reinstated through normal reinstatement.