Loma 281 module 3 exam Study guides, Class notes & Summaries

LOMA 281 Module 3 Study Exam Questions and Answers 2024/2025 Latest Update 100% Solved Waiver of premium for disability (WP) Benefit A supplemental life insurance policy benefit under which the insurer promises to give up—to waive—its right to collect premiums that become due while the insured is totally disabled. - satisfies a 3-6 month waiting period: meaning for the first 3-6 months the person must cover it The WP benefit typically defines total disability for the insured as be...

LOMA 281 Module 3 Study Guide Waiver of premium for disability benefit - Answer️️ -A supplemental life insurance policy benefit under which the insurer promises to give up - to waive - its right to collect premiums that become due while the insured is totally disabled. Waiver of premium for payor benefit - Answer️️ -A supplemental life insurance policy benefit under which the insurer agrees to waive its right to collect a policy's renewal premiums if the policyowner dies or become...