Waiver of premium(redirected from Waiver of Premium Rider)
Also found in: Medical.
Waiver of premium
Waiver of Premium
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.