Question

This optional provision states that if the insured becomes totally disabled, premiums are waived but the coverage remains in force:-----------

Option 1: Guaranteed Insurability
Option 2: Waiver of Premium
Option 3: Disability Income
Option 4: Accelerated Death Benefit

Answer 1

The provision that waives premiums during total disability while keeping insurance coverage active is the Waiver of Premium option.

Step-by-step explanation:

The optional provision that states if the insured becomes totally disabled, premiums are waived but the coverage remains in force is known as Option 2: Waiver of Premium. This provision is important for policyholders, as it ensures that their insurance coverage continues even when they are unable to pay premiums due to a total disability.

Insurance policies may offer various additional options, such as Guaranteed Insurability, Disability Income, and Accelerated Death Benefit, each with their own specific benefits.