Question

What is the Waiver of Premium rider?

a.

A rider used for enhancing the risk cover against accidents

b.

A rider which offers additional amount over and above the sum assured in case of death by accident

c.

A rider used with child plans to waive off premium payments in case of specific events

d.

A rider which provides a premature pay-out of the payment of the base death benefit

Posted under IC22 Life Insurance Underwriting

Answer: (c).A rider used with child plans to waive off premium payments in case of specific events Explanation:The Waiver of Premium rider is used with child plans to waive off premium payments in case of specific events like permanent disability or death of the parent paying the premium.

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