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What is Waiver of Premium?
This is an additional insurance for the premium itself and usually means that the policy will be paid for by the insurance company if you are off sick and unable to work, typically for a period of more than 6 months.
Waiver of Premium would help ensure the policy does not lapse due to non-payment of premiums in the event of you being unable to work due to illness or injury for an extended period of time.
