Waiver of Premium Rider | definition of Waiver of Premium Rider by Medical dictionary
waiver of premium (redirected from Waiver of Premium Rider)
Also found in: Financial
waiver of premium Health insurance A provision that, under certain conditions, insurance will be kept in full force without further payment of premiums When applicable Permanent and total disability. See COBRA, Disability.
References in periodicals archive
Promise Plus is Essential Whole Life insurance (Form Series 1314) + Cancer Waiver of Premium Rider
(Form Series 2084).
Preferably, a term life insurance policy's waiver of premium rider
and conversion privilege will work simultaneously.
There's also a host of other riders to choose from, including an Other Insured Rider, Disability Income Rider, Waiver of Premium Rider
and an Accelerated Benefit Rider.
Features and benefits of the product include: -- Waiver of Premium Rider
, which provides for the waiver of premiums should the insured become disabled before age 65.
The Survivor Waiver of Premium Rider
can help minimize the financial burdens that can occur after the death of a loved one.