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Waiver of Specified Premium

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Waiver of Specified Premium
An optional life insurance policy rider that waives a specified Premium on a traditional product for the length of a qualified disability as outlined in the policy contract.
    
An insurance policy rider that allows a policyholder to stop making Premium payments if the insured suffers a permanent disability. Generally, there is an additional cost for this rider to become part of a policy.
Posted by  Information Management Network LLC., Marcus Evans (ANZ) Limited
 
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