Oracle® Insurance Policy Administration 9.1.0.0.0 E15811-01

# Disability Waver of Premium

An individual can choose to add a disability waver of premium to a term policy. If the individual becomes disabled, the insurance company will forgo future premiums, while retaining policy benefits for a stipulated period.

Table rating is the base on which the premium is calculated for this rider. The premium calculated for this rider is included in the total policy premium and is charged as long as this rider is active and will be discontinued once the rider expires. This rider usually expires when the insured attains the age of 60 years.

You can add a disability waver of premium segment to a policy by selecting Add Segments on the Secondary menu.

Note: You must have a base coverage segment already applied to the policy before you add this segment.