Waiver of premium
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 Glossary   >   W   >   "Waiver of premium" Definition   

        Waiver of premium

An arrangement in life insurance, which, in return for some increase in premium, ensures that policyholders have their premiums paid during periods of absence from work due to illness or accident. There is usually an elimination period (or waiting period), UK deferment period, typically several months, after which the insurers commence payments.

Waiver of premium


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Waiver of premium \ An arrangement in life insurance, which, in return for some increase in premium, ensures that policyholders have their premiums paid during periods of absence from work due to illness or accident. There is usually an elimination period (or waiting period), UK deferment period, typically several months, after which the insurers commence payments.


Waiver of premium / an arrangement in life insurance, which, in return for some increase in premium, ensures that policyholders have their premiums paid during periods of absence from work due to illness or accident. there is usually an elimination period (or waiting period), uk deferment period, typically several months, after which the insurers commence payments.