"John, age 55, owns a whole life policy with a face amount of $100,000 for which the annual premium is $1,000. John explains to his agent that he lost his job and cannot afford his $1,000 annual premium but still desires to have life insurance to age 100. What nonforfeiture option could John's agent recommend to him?

A) Reduced paid-up policy
B) Reduced premium
C) Modified endowment contract
D) There are no options, since John can't afford to pay the premium anymore"

Ans: A) Reduced paid-up policy