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Waiver Of Premium Rider

What is 'Waiver Of Premium Rider'

A waiver of premium rider is a clause in an insurance policy that waives the policyholder's obligation to pay any further premiums should he become seriously ill or disabled, so the waiver of premium allows people to benefit from an insurance policy, even when they cannot work.

Explaining 'Waiver Of Premium Rider'

A waiver of premium provision within an insurance policy may provide temporary or permanent protection should the policyholder be unable to work. This can cover times of serious injury or disability, as well as serious illness.

Events That Trigger the Waiver of Premium

An example of injuries that may trigger the institution of the waiver of premium rider can be an injury resulting in the ability to maintain normal functional or participate in daily activities. This can include, but is not limited to, loss of limb or vision, full or partial paralysis, or loss of hearing in cases where hearing is critical to job performance. Additionally, any injury that results in a disability, such as spinal trauma, may also qualify.

Waiting Period

Many waiver of premium riders include a waiting period before the benefits can be claimed. The policyholder may need to be deemed disabled for six months before the premiums will be waived. Other factors may also be required, such as the policyholder may need to be, aside from the newly acquired disability, be considered of sound enough mind and body that it would be reasonable to expect he could be an integral member of the workforce.


Further Reading


News.. Articles.. Books
heinonline.org [PDF]
American servicemen disabled during the current fighting in Korea are eligible to have their National Service Life Insurance premiums waived if their total disability lasts six consecutive months or longer, the Veterans Administration has announced. The waiver would become …

System and method for pricing of a financial product or service using a waterfall toolSystem and method for pricing of a financial product or service using a waterfall tool
patents.google.com [PDF]
American servicemen disabled during the current fighting in Korea are eligible to have their National Service Life Insurance premiums waived if their total disability lasts six consecutive months or longer, the Veterans Administration has announced. The waiver would become …

Agreements to waive or to arbitrate legal claims: an economic analysisAgreements to waive or to arbitrate legal claims: an economic analysis
www.journals.uchicago.edu [PDF]
American servicemen disabled during the current fighting in Korea are eligible to have their National Service Life Insurance premiums waived if their total disability lasts six consecutive months or longer, the Veterans Administration has announced. The waiver would become …

Premium Financing: Practical Planning Considerations in the Current Environment.Premium Financing: Practical Planning Considerations in the Current Environment.
search.ebscohost.com [PDF]
American servicemen disabled during the current fighting in Korea are eligible to have their National Service Life Insurance premiums waived if their total disability lasts six consecutive months or longer, the Veterans Administration has announced. The waiver would become …

The role of big data, data science and data analytics in financial engineeringThe role of big data, data science and data analytics in financial engineering
dl.acm.org [PDF]
American servicemen disabled during the current fighting in Korea are eligible to have their National Service Life Insurance premiums waived if their total disability lasts six consecutive months or longer, the Veterans Administration has announced. The waiver would become …


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