Life · Chapter 9 · Charges & Living Benefits
Annuity Non-Forfeiture Value
Definition
Before annuitization: all premiums paid + interest − withdrawals − surrender charges. If the annuitant dies before the annuity period starts, the beneficiary receives premiums paid plus interest earned.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
Related terms