Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
3,898,016,882 visitors served.
forum Join the Word of the Day Mailing List For webmasters
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

Waiver of Premium

   Also found in: Dictionary/thesaurus, Medical, Acronyms, Encyclopedia, Wikipedia 0.01 sec.
Waiver of premium
A provision in an insurance policy that allows payment of insurance premiums to be permanently or temporarily stopped in the event the policyholder becomes incapacitated.
Waiver of Premium
An agreement between an insurance company and a policyholder allowing the policyholder not to pay premiums if he/she is seriously injured, ill or disabled. In general, the policyholder must pay a one-time fee for the insurer to include a waiver of premium clause in a policy.

Waiver of premium. If you have a waiver of premium provision in your long-term care or disability insurance policy, you may qualify to stop paying premiums once you've begun collecting benefits.

A waiver of premium provision increases the cost of your insurance, but means that you won't be left without coverage if you are no longer able to pay the premiums.
Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link 		Feedback
Add definition
Mentioned in?  References in periodicals archive?   Financial browser?   Full browser?
 
Features like portability have been added, as have variations on living benefit payouts, waiver of premium that is similar to individual plans, and coverage that extends into retirement years.
Time for voluntary term life by Traynor, Marty / Benefits Selling
With waiver of premium, it is self- completing if totally disabled.
The opportunity of a lifetime (part 3) by Mueller, Van / Senior Market Advisor
Agents must provide an outline of coverage to all prospective applicants that must include: a brief description of benefits along with limitations or exclusions; terms under which the policy may be returned and the premium refunded; relationship of the cost of care and benefits; and terms under which the policy may be continued, including any waiver of premium provisions.
For the long haul: understanding the regulations surrounding ... by Darras, Frank N. / Best's Review
 
 
 
Financial Dictionary
?

Terms of Use | Privacy policy | Feedback | Advertise with Us | Copyright © 2012 Farlex, Inc.
Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.