CEBS Exams (Individual Modules)

What is a 'waiver of premium' provision in a group life or disability insurance policy?

The employer pays all premiums so the employee owes nothing Premiums are waived (not owed) while the insured is totally disabled The insurer waives the deductible in case of catastrophic loss Premiums are reduced for non-smokers and healthy employees

Correct Answer:

Premiums are waived (not owed) while the insured is totally disabled

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