Insurance Awareness - Life Insurance - LIC
The Waiver of Premium Rider in a life insurance policy is designed to:
The Waiver of Premium Rider in a life insurance policy is designed to:
easy Q12 of 15
Step-by-Step Solution
Step 1: Identify the rider's purpose
The Waiver of Premium Rider waives off future premium payments if the policyholder suffers disability or critical illness.Final Answer:
Waive future premiums if the policyholder becomes disabled or critically ill → Option BQuick Check:
Waive future premiums if = correct answer ✅
Quick Trick: Waiver of Premium means you don't have to pay premiums under certain conditions.
Common Mistakes:
MISTAKES- Mistaking Waiver of Premium Rider for Critical Illness or Accidental Death Benefit Rider.
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