Final answer:
The subject of this question is Business. The state nonforfeiture law requires insurers to offer at least one nonforfeiture option to policyholders. The correct answer is C. Extended term.
Step-by-step explanation:
The subject of this question is Business.
The state nonforfeiture law for life insurance policies requires insurers to offer at least one nonforfeiture option to policyholders. These options provide the policyholder with some value or benefit if they choose to surrender their policy before it reaches maturity. The nonforfeiture options include reduction of premium, reduced paid-up, extended term, and shortened benefit period. So, the correct answer is C. Extended term.