What Is Waiver of Premium Rider?
An optional benefit that waives future life insurance premiums if the insured becomes totally disabled before a specified age, typically 60 or 65. This rider allows protection to continue during periods of disability without depleting policyholder funds.
Waiver of Premium Rider across 2 exams
Waiver of Premium Rider appears on the following exams. Each defines it in the context candidates are tested on:
- Life Insurance
- An optional benefit that waives future life insurance premiums if the insured becomes totally disabled before a specified age, typically 60 or 65. This rider allows protection to continue during periods of disability without depleting policyholder funds.
- Life-Only Insurance
- An optional rider that waives all policy premiums if the insured becomes totally and permanently disabled, allowing coverage to stay in force without cost during disability.