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Premium WaiverPremium waiver pays your premiums on a pension or life assurance policy if you become ill or disabled. There is usually a length of time before you can make a claim for the company to pay your premiums for you. This is called a deferred or waiting period. It does not cost much more to have a policy with a 'premium waiver' than one without it. This is also known as waiver of premium or WOP. |
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