Life Insurance Basics
What is a life insurance waiver of premium rider?
A waiver of premium rider waives your life insurance premiums if you become totally disabled. The rider keeps your policy in force without premium payments during your disability. The waiver of premium rider is typically available for an additional premium.
Key Points
- Waiver of premium rider: waives premiums if you become totally disabled
- Keeps policy in force without premium payments during disability
- Available for an additional premium
- Typically requires total disability for 6 months before waiver begins
- An independent agent can help you evaluate waiver of premium riders