waiver of premium

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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 ?
of America are waivers of premiums if policyholders become disabled, and the accelerated death rider if policyholders become terminally ill and will not live more than 12 to 18 months, Hutchison says.