Premium Waiver definition

Premium Waiver means a policy provision that allows a policyholder to stop paying premiums during a period of covered care and maintain the policy in force.
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Premium Waiver means the Insurer waives the policyholder's obligation to pay any further premiums should he or she become seriously ill or disabled for a defined period
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Premium Waiver means the additional benefit that will replace the premium payments for a period of 6 (six) months to ensure cover remains in place for all Dependants on the Death of the Principal Insured. The premium waiver will only be applicable if a Spouse has cover in terms of this policy;
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Examples of Premium Waiver in a sentence

  • Future Generali Premium Waiver Benefit RiderIn case the proposer who is the Policyholder dies while the life assured is alive, all future premiums falling due under this Policy after the date of death of the policyholder shall be waived and shall not be required to be paid.

  • However, in such case, if the premium paying term of the base policy exceeds the rider term, all the further premiums due under the base policy from the date of expiry of this Premium Waiver Benefit Rider term shall be payable by the Life Assured.

  • The Liberty Medical Premium Waiver policy meets my needs as it will continue to pay the medical scheme contributions for me and/or my medical scheme dependant(s) in the event of my death or disability.

  • Liberty Medical Premium Waiver is underwritten by Guardrisk Life Limited (FSP number 76) (collectively referred to as “Guardrisk”).

  • The Liberty Medical Premium Waiver product was recommended as a solution because it will cover the medical scheme contributions for me and/or my medical scheme dependant(s) for the benefit payment period selected.

  • Medical Premium Waiver is underwritten by Guardrisk Life Limited (FSP number 76) (collectively referred to as “Guardrisk”).

  • I understand that it is a condition of this policy to remain a member or dependant of a medical aid registered in South Africa to qualify for Gap and/or Medical Premium Waiver cover.

  • Alternatively, the intermediary does not represent any other Gap Cover and Medical Premium Waiver product supplier.

  • Intermediaries earn statutory commission on premiums namely 20% on Gap Cover, 15% in the case of Gap Cover for 65 years and older, 20% on Gap optional benefits and 10% on Medical Premium Waiver.

  • However, in such case, if the Premium Paying Term of the Base Policy exceeds the rider term , all the further premiums due under the Base Policy from the date of expiry of this Premium Waiver Benefit Rider Term shall be payable by the Life Assured.

Related to Premium Waiver

  • Premium Payment Date in respect of any Option, means the date on which the Premium is due and payable, as agreed to at the time the Option is entered into, as evidenced in a Confirmation.

  • Premium tax means a tax paid by insurance companies to provincial and territorial governments calculated as a percentage of gross premiums written.

  • Premium Rate has the meaning assigned to such term in the Premium Letter.

  • Reimbursement insurance policy means a policy of insurance

  • Life Insurance Policy has the meaning given in Section 6.10.

  • Health insurance policy means a policy that provides specified benefits for hospital and/or general treatment and meets all requirements under section 63-10 of the Private Health Insurance Act 2007.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Copayment means that you pay a fixed amount each time you fill a prescription.

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Premium Payment Term means the term specified in the Schedule, during which the Premiums are payable by You;