What does the Waiver of Premium Rider stipulate?

The Waiver of Premium Rider is a valuable provision that allows policyholders to avoid paying premiums on their life insurance policy if they become disabled and are unable to work. This rider is designed to ensure that individuals do not lose their life insurance coverage during a period of financial hardship caused by a disability. Essentially, if the insured meets the criteria for total disability, the insurance company waives the premium payments for the duration of the disability, maintaining the policy's benefits without further financial obligation from the insured.

This rider is a significant feature for policyholders, as it provides peace of mind and financial relief during difficult times, ensuring that their loved ones remain covered even when the insured cannot work.