Which rider ensures that coverage remains in effect if a policy lapses due to nonpayment?

The nonforfeiture rider is designed to provide protection to the policyholder in the event that the policy lapses due to nonpayment of premiums. This rider often allows the policyholder to maintain some level of coverage or benefits, even if they are unable to pay their premiums. Typically, it will convert the accumulated cash value of the policy into a reduced paid-up policy or extend the coverage for a limited time by using the cash value to keep the policy active. This ensures that the policyholder does not lose all benefits simply due to an inability to make payments temporarily.

In contrast, other riders like the conversion rider typically relate to converting term insurance to permanent insurance, while the exclusion rider specifies instances in which coverage will not apply, and the waiver of premium rider allows the policyholder to skip premium payments if they become disabled. None of these provide the same kind of coverage preservation in the event of lapsed payments as the nonforfeiture rider does.