What is a waiver of premium rider?

Answered by 3 licensed agents

It is an option usually executable later in the lifetime of a whole life policy or a cash accumulating policy. That feature allows for premiums or cash values within the policy to offset any required premium necessary. It might also occur in the event of a conditional exception to premium such as disability

Answered by Bill Sandefur on June 22, 2026

Agent Licensed in GA

Answered by Bill Sandefur Life Insurance Agent
A waiver of premium rider is to prevent a missed monthly payment. If the waiver of premium is used, then cash value or the death benefit is decreased until you have paid for the missed premium.

Answered by Marc Carr on June 17, 2026

Broker Licensed in OH

Answered by Marc Carr Life Insurance Agent
Typically these are going to be riders that will waive the premium for a period of time if you become unable to work due to a disability. If your policy has this, it's important to understand the duration you can have that waiver.

Answered by Jim Mentink on June 16, 2026

Agent Licensed in ME, FL, IL & 8 other states

Answered by Jim Mentink Life Insurance Agent

Tags: Riders and Addons

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