Question

What is typically required for continued waiver of premium in group insurance schemes?

a.

Proof of disability provided by the employee's physician.

b.

Annual renewal of the group insurance policy by the employer.

c.

Monthly payroll deductions for premium payments.

d.

Annual proof of disability for continued waiver of premium.

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (d).Annual proof of disability for continued waiver of premium. Explanation:Typically, for continued waiver of premium in group insurance schemes, annual proof of disability is required. This means that the insured employee must provide evidence of their disability on an annual basis to continue receiving the waiver of premium benefit. This requirement helps ensure that the waiver of premium is only granted to employees who remain totally disabled and unable to work, as specified in the insurance policy terms.

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Q. What is typically required for continued waiver of premium in group insurance schemes?
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