Waiver Of Premium

Business, Legal & Accounting Glossary

Definition: Waiver Of Premium

Quick Summary of Waiver Of Premium

Waiver of premium can be added to a life insurance policy so if the customer falls ill and cannot work, the life insurance premium will continue to be paid. The criteria for waiver to kick-in is often quite stringent.

What is the dictionary definition of Waiver Of Premium?

Dictionary Definition

A provision in an insurance policy that allows payment of insurance premiums to be permanently or temporarily stopped in the event the policyholder becomes incapacitated.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Waiver Of Premium. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. July 16, 2020 https://payrollheaven.com/define/waiver-of-premium/.
Chicago Manual of Style (CMS):
Waiver Of Premium. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/waiver-of-premium/ (accessed: July 16, 2020).
American Psychological Association (APA):
Waiver Of Premium. PayrollHeaven.com. Retrieved July 16, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/waiver-of-premium/

Definition Sources

Definitions for Waiver Of Premium are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 26th April, 2020 | 0 Views.