elements common to all life insurance policies. While state insurance laws do not prescribe the exact words that must be in a life insurance policy, certain standard provisions must be included to provide specified basic benefits for an insured, who cannot be charged extra for them. Additional benefits can be provided, if the insurance company desires. Standard provisions include the beneficiary ; grace period ; incontestable clause ; nonforfeitability (cash surrender benefit, reduced paid-up benefit, extended term benefit); policy loan reinstatement ; suicide clause ; war exclusion clause .