What is NOT a benefit of having nonforfeiture options in an insurance policy?

The concept of nonforfeiture options in an insurance policy involves provisions that ensure the policyholder does not lose their benefits upon surrendering the policy or when ceasing to pay premiums. These options typically include maintaining a death benefit, receiving a cash payout upon policy cancellation, and extended coverage without further payment.

Automatic renewal of the policy, however, is not considered a nonforfeiture option. Nonforfeiture options focus on what a policyholder retains if they stop making premium payments, while automatic renewal relates to the continuation of the policy's term based on the initial agreement and does not derive from nonforfeiture provisions. Therefore, while automatic renewal might involve maintaining coverage, it does not pertain to the specific benefits associated with nonforfeiture options.