QQuestionBusiness Law
QuestionBusiness Law
"Multiple Choice
The waiver of premium does NOT include which provision?
A. If the insured qualifies, the premiums are waived retroactively.
B. The waiver of premium generally does not extend past the insured's specified age.
C. The insured must be disabled for a set period of time before benefits are applied.
D. All future premiums are waived if the insured recovers from the disability."
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Answer
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Step 1Let's solve this multiple-choice insurance question step by step:
Step 2: Understand the Waiver of Premium Concept
A waiver of premium is an insurance policy provision that allows the policyholder to stop paying premiums if they become totally disabled, while keeping the policy active.
Final Answer
The provision that is NOT a typical part of waiver of premium is the requirement that the insured must be disabled for a set period of time before benefits are applied. The key is that while a waiting period is common, it is technically an exception or limitation to the full waiver of premium benefit, making it the most distinctive and potentially problematic provision among the choices.
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