If you have a waiver of premium provision in your long-term care or disability insurance policy, you may qualify to stop paying premiums once you've begun collecting benefits.
A waiver of premium provision increases the cost of your insurance but means that you won't be left without coverage if you are no longer able to pay the premiums.
Yahoo Finance - Cite This Source - This Definition
- Council of Economic Advisors (CEA), Elimination period, Lapse, Nonforfeiture clause, Own-occupation policy
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