MLchartDataset catalogue

Waiver of premium

Term · Insurance and risk management · MLC-T-INS-003504

A rider or provision in a life insurance or disability income policy that exempts the policyholder from paying premiums if they become totally and permanently disabled. The policy remains in force, and benefits continue to accrue as if premiums were being paid. This provision typically requires a waiting period, such as six months, before it takes effect.

Table 1. Record
IdentifierMLC-T-INS-003504
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-003504",
  "term": "Waiver of premium",
  "field": "Insurance and risk management",
  "definition": "A rider or provision in a life insurance or disability income policy that exempts the policyholder from paying premiums if they become totally and permanently disabled. The policy remains in force, and benefits continue to accrue as if premiums were being paid. This provision typically requires a waiting period, such as six months, before it takes effect.",
  "url": "https://mlchart.com/terminology/insurance/waiver-of-premium/"
}

Record 3,651 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.