Question

If an insured is concerned about being unable to pay the premiums on his or her whole life policy in the event of a total disability, which of the following riders should be added to the policy?a. Waiver of Cost of Insurance
b. Payor Benefit
c. Waiver of Premium
d. Disability Income Benefit

Answer 1

Answer:

c. Waiver of Premium

Explanation:

A waiver of premium is clause in an insurance contract in which the insurance company promises not to oblige the insurer to pay a fee to maintain the contract in some extraordinary cases: these cases are usually either disability or death.

Because in the case of this question the insured is concerned about becoming disable and losing the ability to pay for the contract, he is likely to benefit from a waiver of premium included in his insurance contract.