Under which nonforfeiture option does the company pay the surrender value and have no further obligations to the policyowner?

cash surrender

Explanation:

Cash surrender is the nonforfeiture option whereby the company pays the surrender value and have no further obligations to the policyowner.

The cash surrender value is the amount of money that is been paid by an insurance company to an annuity contract owner or policyholder in case there's contract termination before maturity. It should be noted that the contract is over once cash surrender value is being paid.

answer; communities of interest; i believe this is correct, plz check first good luck;

answer; engaging in effective public relations;