Waiver of premium


 

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Waiver of premium

An arrangement in life insurance, which, in return for some increase in premium, ensures that policyholders have their premiums paid during periods of absence from work due to illness or accident. There is usually an elimination period (or waiting period), UK deferment period, typically several months, after which the insurers commence payments.

Waiver of premium

A provision in an insurance policy that allows payment of insurance premiums to be permanently or temporarily stopped in the event the policyholder becomes incapacitated.



Waiver of premium

Similar Matches

Life assurance premium relief

Life assurance premium relief

A tax relief of 15% on the premiums paid into long-term insurance policies. Applies only to policies lasting for more than 10 years and issued before March 13, 1984.


Risk premium

Risk premium

1. The higher expected return (in the sense of mathematical expected value) that an uncertain asset must pay in order for risk averse investors to be willing to hold it. 2. The difference between the interest rate on a risky asset and that on a safe one. 3. In exchange markets the difference between the forward rate and the expected future spot rate.


Premium

Premium

In the context of insurance, a premium is the regular sum you pay to keep your cover in force.


Option premium

Option premium

The option price.


Forward premium

Forward premium

The difference between a forward exchange rate and the spot exchange rate, expressed as an annualized percentage return on buying foreign currency spot and selling it forward.


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