What is the definition of Applicants Waiver of Premiums Benefit (AWB)?
This benefit provides for the waiver of premiums if the applicant dies or becomes totally disabled before the policy anniversary when the applicant is policy attained age 60. The waiver applies only to premiums due before the policy anniversary at the insured’s policy attained age 25. No commuted value of future premiums will be paid upon surrender of the policy or death of the insured. This rider’s contract name is Waiver of Premium Due to Disability or Death of the Applicant Rider.
