What is a waiver of premium for disability for health insurance?
Health insurance protects against expensive medical bills. Insured clientele make premium payments to insurance companies in exchange for providing medical benefits. The waiver of premium for disability rider adds an additional layer of protection for health insurance.IdentificationThe waiver of premium for disability is an attachment to health insurance that allows policyholders to forgo making premium payments in the event of disability. Health insurance coverage continues “in force” even though premiums are not being paid during the disability.FeaturesWaiver of premium for disability protection presents waiting periods. The waiting period describes the time that insured customers must make premium payments at the beginning of the disability and usually lasts for six months. The insurance company then waives premiums throughout the length of the disability and reimburses premiums paid during the waiting period.ConsiderationsInsurance companies categorize disability into own and any o
