Under the 'extended term' nonforfeiture option, the policy's cash value is used to purchase:

Explanation

The extended term option uses the net cash value as a single premium to buy term insurance equal to the original face amount, lasting for whatever period that amount of cash value will fund. A smaller paid-up permanent policy is the reduced paid-up option. An annuity and paid-up additions are not nonforfeiture choices (paid-up additions are a dividend option). Extended term is frequently the automatic (default) nonforfeiture option if the owner makes no election.