Life · Chapter 5 · Riders
Waiver of Premium Rider
Definition
If the insured becomes totally disabled, the insurer pays the premiums after a waiting period (usually 6 months). Cash value and dividends continue as normal.
Exam tip
Waiver of Premium PAYS THE PREMIUMS; Disability Income Rider PAYS THE INSURED a monthly income.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
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