Guertin Laws — the nonforfeiture laws in life insurance that have been standard in all states
since 1948. These laws require that a paid-up nonforfeiture benefit (e.g.,
paid-up term life insurance) be provided for every whole life policy that
lapses because of nonpayment of premium. These laws also require that a cash
surrender value be provided if the policy has been in force 3 years or more.