Which of the following is not derived from the non-forfeiture value?

The non-forfeiture value is a concept primarily associated with life insurance policies that allows the policyholder to benefit from the accumulated cash value if they decide to stop paying premiums. This is designed to protect policyholders from losing the value of their policy due to non-payment.

Cash surrender value, paid-up insurance, and extended term insurance are all options that derive from the non-forfeiture value. The cash surrender value is the amount the policyholder would receive if they decide to cancel the policy, essentially allowing them to "cash in" the value that has built up. Paid-up insurance refers to a situation where, instead of receiving cash, the policyholder can convert their existing policy to a reduced amount of paid-up coverage without needing to pay further premiums, utilizing the non-forfeiture value. Extended term insurance allows the policyholder to use their cash value to buy term insurance for a specified period, again drawing from the nont-forfeiture value.

Dividends, however, are not derived from the non-forfeiture value. They stem from the insurance company’s profitability and are generally returned to policyholders based on the company's performance. This distinction is key because dividends are contingent upon the insurer's financial results rather than the policy's intrinsic non