Which of these is NOT a common life insurance nonforfeiture option?

Life insurance nonforfeiture options are designed to provide policyholders with alternatives to forfeiting their policy if they can no longer pay premiums. The common nonforfeiture options include reduced paid-up insurance, extended term option, and cash surrender option.

Reduced paid-up insurance allows the policyholder to convert their existing whole life insurance policy into a new, fully paid-up policy for a reduced amount of coverage. This option permits continued coverage while eliminating the need for future premium payments.

The extended term option allows the policyholder to use the cash value of the policy to purchase a term life insurance policy for the same face amount as the original policy, but for a limited period, essentially extending life insurance coverage without additional cost during that term.

The cash surrender option gives the policyholder the right to receive the cash value of the policy in a lump sum if they choose to terminate their policy.

In contrast, a life income annuity is typically not classified as a nonforfeiture option related to life insurance policies. Instead, it is a form of retirement income product that pays out a stream of income for the lifetime of an individual. Since it does not provide a conversion or surrender option in the context of maintaining life insurance coverage, it is not considered a