Life Insurance✓ Verified · outline & fact-checked · Sep 2026Difficulty 1/5
A waiver of premium rider on a life insurance policy provides that:
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
A waiver of premium rider excuses the insured from paying premiums if he or she becomes totally and permanently disabled, typically before a specified age (often 60 or 65). The policy stays in force as if premiums were paid. It is one of the most common and valuable riders because disability is far more likely during the working years than early death.
Why the other options are wrong
- B) Renewability without evidence of insurability describes a renewable term feature, not a waiver of premium rider.
- C) Advance payment on terminal illness describes an accelerated death benefit rider.
- D) A beneficiary's right to disclaim proceeds is an estate-planning choice, unrelated to this rider.
Memory hook
Waiver of premium = the policy pays its own rent while you are disabled. Totally and permanently disabled before the cutoff age — the insurer picks up the tab.