The addition of a waiver of premium rider brings an additional element of protection to a life insurance policy.
Preferably, a term life insurance policy's waiver of premium rider and conversion privilege will work simultaneously.
The right to include the waiver of premium rider
in the converted policy can be an important feature, particularly if the conversion to a policy with a waiver of premium rider
can be made even if the insured is already disabled.
An optional Waiver of Premium Rider
-- Can cover the cost of premiums or certain monthly policy charges should the insured become disabled provided they meet the terms and conditions; and
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.
The waiver of premium rider
always has been the most popular rider and still is today.
Considering all of the talk about jobs going overseas and consolidations within industries, the time may be right for the unemployment rider to become as popular as its closely related waiver of premium rider
due to disability.
The company's main businesses include endowment, investment-linked life protection, lifestyle protection, savings and retirement protection, education protection, term protection and other additional protections, such as medical, critical illness, accident and waiver of premium riders
Disability Waiver of Premium riders
generally waive the premiums due on a whole life insurance policy if an individual is disabled and unable to work.
Our VUL products, which now boast asset allocation, guaranteed accumulation and waiver of premium riders
, also are enjoying greater growth in percentage terms, though off a smaller base.