What must be included in a whole life policy regarding non-forfeiture values?

A whole life insurance policy must provide a clear understanding of its non-forfeiture values, which represent the benefits that remain available to the policyholder if they stop paying premiums. Including a table showing the non-forfeiture values for a minimum of 20 years serves several critical functions: it ensures transparency, helps the policyholder to understand what benefits they can expect should they discontinue payments, and demonstrates the policy's cash value accumulation over time. This information is vital for policyholders as it outlines options such as taking a reduced paid-up policy or cash surrender value.

By mandating that this detailed table be provided, the policy promotes informed decision-making for policyholders, ensuring they know their rights and available benefits in the event of a lapse in premium payments. In Idaho, as in many jurisdictions, this requirement reflects the regulatory intent to protect consumers by ensuring they are fully informed about the potential implications of their insurance contract.