Waiver Of Premium Rider

Dictionary Says

Definition of 'Waiver Of Premium Rider'

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

Investopedia explains 'Waiver Of Premium Rider'

For an upfront charge, most insurance companies will incorporate a waiver of premium into a policy. The waiver is usually associated with life insurance policies, and requires the policyholder to be disabled for a specified amount of time, such as being incapacitated for six months. To have a waiver of premium, some companies may also place other requirements on the policyholder, such as being healthy and below a certain age.

Sign Up For Term of the Day!

Try Our Stock Simulator!

Test your trading skills!

Related Definitions

  1. Insurance

    A contract ...
  2. Premium

    1. The total ...
  3. Life Insurance

    A protection ...
  4. Dread Disease Rider

    A special ...
  5. Death Benefit

    The amount on a ...
  6. Rider

    A provision of ...
  7. Exoneration

    In a general ...
  8. Waiver Of Coinsurance Clause

    Language in an ...
  9. Waiver Of Premium For Disability

    A provision in ...
  10. National Average Wage Index - NAWI

    An index ...

Articles Of Interest

  1. Let Life Insurance Riders Drive Your Coverage

    Find out how these additional benefits can help you customize your policy.
  2. Life Insurance: How To Get the Most Out Of Your Policy

    There are many benefits to owning a life insurance policy - if you get the right one for you.
  3. How Much Life Insurance Should You Carry?

    Learn how much - if any - insurance you really need.
  4. How To Avoid Taxation On Life Insurance Proceeds

    Decrease the value of your taxable estate and prevent the tax man from getting you one last time.
  5. A Look At Single-Premium Life Insurance

    Want to provide for your dependents and finance your own long-term care? Learn more here.
  6. Life Insurance: Putting A Price On Peace Of Mind

    Would your death leave loved ones financially stranded? Find out how to ease your mind and keep them protected.
  7. Market Capitalization Defined

    Find out the differences between mega-, large-, mid- and small-cap stocks and how each suits different investing styles.
  8. In Small Business, Success Is Spelled With 5 "C"s

    Incorporating these steps will help your business thrive in a competitive market.
  9. Retirement Savings Tips For 35- To 44-Year-Olds

    Learn how the "sandwich generation" can save for retirement while taking care of their kids and parents.
  10. Is Loan Protection Insurance Right For You?

    This coverage can keep you from defaulting on your loans when you're in financial trouble.

comments powered by Disqus
Recommended
Loading, please wait...
Trading Center