Question

____ waives the premiums that would normally have been paid for by the insured. The insured must be disabled for 90 days before the waiver period begins.

a. Disability waiver of premium
b. Premium refund
c. Beneficiary designation
d. Waiting period waiver

Answer 1

The correct answer is 'Disability waiver of premium,' which allows the insured to have their insurance premiums waived if they are disabled and unable to work after a typical 90-day waiting period.

Step-by-step explanation:

The correct answer to the question is a. Disability waiver of premium. This insurance provision waives the premiums that would normally have been paid by the insured if they become disabled and are unable to work. The insured must typically demonstrate their disability and be disabled for a certain period, commonly 90 days, before this waiver benefit begins. This ensures that their coverage continues even though they are not able to pay the premiums due to their disability.