Which nonforfeiture option allows the policyholder to receive a portion of the death benefit while the policy remains in force?

The accelerated benefit option is designed specifically to allow a policyholder to receive a portion of the death benefit while still keeping the life insurance policy in force. This option is particularly beneficial in situations where the insured is diagnosed with a terminal illness or is facing long-term care needs. By accessing a portion of the death benefit early, the policyholder can alleviate financial burdens such as medical expenses, thereby addressing immediate needs without losing the full policy coverage.

In contrast, the reduced paid-up option generally converts the policy into a form that does not require further premiums, but the death benefit is reduced significantly. The cash surrender option involves the policyholder surrendering the policy for its cash value, resulting in the loss of coverage. The extended term option allows the policyholder to use the cash value to purchase a limited-term policy, but again, it does not provide access to a portion of the death benefit while the original policy remains active.

Thus, the accelerated benefit option stands out as the correct choice for this question because it directly allows access to a portion of the death benefit while the coverage remains in effect.