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Waiver Of Premium For Disability

What is 'Waiver Of Premium For Disability '

A provision in an insurance policy that states that the insurance company will not require the insured to pay the usual recurring fee to maintain the health insurance policy if the person responsible for paying the premiums is seriously injured. Insurance companies can vary in their definition of a disability, and policies can vary on when and for how long they will waive a premium in the event of a disability. Also, insurance companies may charge a higher premium to include this waiver in the policy.

Explaining 'Waiver Of Premium For Disability '

Two types of insurance policies that commonly include a waiver of premium for disability are life insurance and disability insurance. The waiver can mean the difference between the insured being able to keep the policy or having to give it up if he or she becomes disabled, is unable to work and no longer has an income. This waiver is particularly important for disability insurance because if the insured had to pay premiums after becoming disabled, they would not be protected against the peril they were trying to insure against.


Further Reading


Determination and calculation of the rate of waiver of premium for disability in life insurance actuarial calculation
en.cnki.com.cn [PDF]
… calculating the net premium on the discrete condition is discussed. Finally,an example is given to show the distinction between the rate of waiver of premium and the rate of disability. 【CateGory Index】: F840 …

1. The organization and financing of health services for persons with disabilities1. The organization and financing of health services for persons with disabilities
onlinelibrary.wiley.com [PDF]
… calculating the net premium on the discrete condition is discussed. Finally,an example is given to show the distinction between the rate of waiver of premium and the rate of disability. 【CateGory Index】: F840 …

Disability: A Threat to Long-Term Financial Security Is Growing More Serious in a World of Increasing Individual ResponsibilityDisability: A Threat to Long-Term Financial Security Is Growing More Serious in a World of Increasing Individual Responsibility
jor.pm-research.com [PDF]
… calculating the net premium on the discrete condition is discussed. Finally,an example is given to show the distinction between the rate of waiver of premium and the rate of disability. 【CateGory Index】: F840 …

Towards an economics of disability: The magnitude and structure of transfer and medical costsTowards an economics of disability: The magnitude and structure of transfer and medical costs
www.jstor.org [PDF]
… calculating the net premium on the discrete condition is discussed. Finally,an example is given to show the distinction between the rate of waiver of premium and the rate of disability. 【CateGory Index】: F840 …

A call to action for social work: minimizing financial hardship for families of children with special health care needsA call to action for social work: minimizing financial hardship for families of children with special health care needs
www.questia.com [PDF]
… calculating the net premium on the discrete condition is discussed. Finally,an example is given to show the distinction between the rate of waiver of premium and the rate of disability. 【CateGory Index】: F840 …

Mortality of disabled peopleMortality of disabled people
papers.ssrn.com [PDF]
… calculating the net premium on the discrete condition is discussed. Finally,an example is given to show the distinction between the rate of waiver of premium and the rate of disability. 【CateGory Index】: F840 …


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