Disability Waiver of Premium

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

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 reaches 60 years of age.

Add a disability waiver of premium segment to a policy by selecting Add Segments on the Secondary menu.  

Note:  A Base Coverage segment must exist on the policy before this segment can be added.

Required Field for Disability Waiver of Premium Segment