Nonforfeiture values guarantee what for the policyowner?

Nonforfeiture values are designed to protect the policyowner by guaranteeing certain rights associated with the cash value of their life insurance policy. Specifically, they ensure that, in the event that the policyholder stops paying premiums or decides to surrender the policy, they will not completely lose the accumulated cash value. This mechanism provides peace of mind to policyowners, as it allows them to access a portion of their investment in the policy, even if they can no longer maintain active coverage.

The other options do not accurately reflect the purpose of nonforfeiture values. For example, while some policies may include provisions for refunds under certain conditions, nonforfeiture values specifically relate to the preservation of cash value rather than refunds of premiums. The option regarding re-insurance does not pertain to nonforfeiture values, as they focus solely on the policyowner's accumulated value within their policy. Lastly, benefits increasing over time is not a guarantee associated with nonforfeiture values; instead, they are concerned with the protection of existing cash value rather than the enhancement of benefits.