Insurance Awareness - Life Insurance - LIC
Which rider in a life insurance policy waives off future premium payments if the policyholder suffers total permanent disability?
Which rider in a life insurance policy waives off future premium payments if the policyholder suffers total permanent disability?
easy Q1 of 15
Step-by-Step Solution
Step 1: Understand the rider functions
The Waiver of Premium Rider waives future premiums if the policyholder becomes totally disabled and unable to pay premiums.Step 2: Differentiate from other riders
Accidental Death Benefit Rider pays extra on accidental death, Critical Illness Rider pays lump sum on critical illness, and Permanent Disability Rider provides income protection but does not waive premiums.Final Answer:
Waiver of Premium Rider → Option BQuick Check:
This rider specifically waives premiums during total permanent disability, matching the question.
Quick Trick: Waiver of Premium means no future premiums if disabled.
Common Mistakes:
MISTAKES- Confusing waiver of premium with permanent disability income benefits.
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