A life insurance policy must be in effect for how many years before the policyowner may use a nonforfeiture provision?

A life insurance policy must be in effect for 3 years before the policyowner may use a nonforfeiture provision. This means that for the first 3 years of the policy, the policyowner will not have the option to utilize a nonforfeiture provision if they were to cancel or surrender the policy. After 3 years, the policyowner may choose to convert the policy to a reduced paid-up policy or receive the cash value of the policy.

  Option B is incorrect because a policy must be in effect for a minimum of 3 years, not 1 year.

  Option C is incorrect because a policy must be in effect for a minimum of 3 years, not 5 years.

  Option D is incorrect because a policy must be in effect for a minimum of 3 years, not 10 years.