waiver of premium

waiver of premium definition - business

waiver of premium

A provision in some life insurance contracts that forgives scheduled premium payments in the event the insured becomes disabled and can no longer work.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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