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waiver of premium

American  

noun

Insurance.

  1. a provision in a policy establishing specific conditions under which the policy will be kept in force without the policyholder's being required to continue to pay premiums.

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

An example of a common rider is “disability waiver of premium,” which waives your policy’s premium if you become totally disabled and are unable to work.

From Forbes

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.