- waiver of premium
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a provision in a policy establishing specific conditions under which the policy will be kept in force without the policyholder's being required to continue to pay premiums.
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Universalium. 2010.
waiver of premium
Look at other dictionaries:
Waiver Of Premium For Disability — A provision in an insurance policy that states that the insurance company will not require the insured to pay the usual recurring fee to maintain the health insurance policy if the person responsible for paying the premiums is seriously injured.… … Investment dictionary
Waiver Of Premium For Payer Benefit — A clause in an insurance policy that says that the insurance company will not require the insured to pay a fee to maintain the policy under certain conditions. Most commonly, these conditions are the death or disability of the person paying the… … Investment dictionary
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waiver of premium — A provision in an insurance policy that allows payment of insurance premiums to be permanently or temporarily stopped in the event the policyholder becomes incapacitated. Bloomberg Financial Dictionary … Financial and business terms
waiver of premium — a clause in an insurance policy providing continued coverage without payment of premiums under stated circumstances * * * Insurance. a provision in a policy establishing specific conditions under which the policy will be kept in force without the … Useful english dictionary
waiver — The intentional or voluntary relinquishment of a known right, or such conduct as warrants an inference of the relinquishment of such right, or when one dispenses with the performance of something he is entitled to exact or when one in possession… … Black's law dictionary
Waiver Of Restoration Premium — A clause in an insurance policy that says that the insurance company will not require the policyholder to pay a fee to get back the level of coverage that their policy initially provided before any claims were paid out. If a policy does not… … Investment dictionary
insurance — /in shoor euhns, sherr /, n. 1. the act, system, or business of insuring property, life, one s person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a… … Universalium
Income protection insurance — (IPI) is a UK insurance policy paying benefits to policyholders who are incapacitated and hence unable to work due to illness or accident. IPI policies were formerly called Permanent Health Insurance (PHI).Relevant concepts* Incapacity will be… … Wikipedia
disability clause — Insurance. a clause in a life insurance policy providing for waiver of premium and sometimes payment of monthly income if the policyholder becomes totally and permanently disabled. * * * … Universalium
