Sentences with phrase «called waiver of premium»

After the death of the policyholder, the premium is funded by the company till the maturity period and that's why it is called waiver of premium (waiver of the policyholder's obligation to pay the premium).

Most life insurance policies offer an optional feature called waiver of premium.

Not exact matches

MetLife's GLT coverage comes with a rider option called a Non-Convertible Disability Waiver of Premium, which waives all base premiums of the policy if the policyholder were to become disabled for at least six months.

Waiver of Premium is an additional provision (sometimes also called a rider) in most Life Insurance policies which allows to stop paying premiums after the insured person has been disabled for a given period of time (usually six months) due to an illness or an injury.

Also called a disability income rider, waiver of premium disability riders allow you to waive premium payments if you incur a serious disability and can't work.

In case of the untimely demise of the insured parent, many child plans have what is a called premium waiver feature that ensures that the child plan remains in force for the remaining part of the policy term.

Much like an individual life insurance rider called a «waiver of premium rider», the disability income rider will usually wave insurance premium charges in the future.