Specimen Language - Waiver of Specified Premium Rider
The following is the actual language for a given carrier's Waiver of Specified Premium Rider
This rider is part of the policy to which it is attached. It must be read with all policy provisions. This rider
does not participate in our surplus earnings. This rider has no loan or cash surrender value. This rider takes
effect on the policy date, or if added later, the monthly processing date on or next following our approval of your
application for this benefit. Except as provided below, this rider is subject to all the terms of your policy.
If all the conditions of this rider are met, we will waive (credit as a regular premium) the specified premium
amount shown on your policy Schedule. To qualify for waiver, all of the following conditions must be met:
1. The insured becomes totally disabled while this rider was in force.
2. Total disability must begin before the policy anniversary nearest the 65th birthday of the insured.
3. The insured must be continuously and totally disabled for at least four months.
4. If total disability begins during the grace period, a premium sufficient to cover the monthly deductions and the
monthly expense charges due, if any, must be paid to us. The premium must be paid before the end of the grace period
or the specified premium amount will not be waived.
5. Notice and proof of claim must be submitted in accordance with the provisions of this rider.
Waiver will start on the first monthly processing date after the above 5 conditions are satisfied.
If total disability begins before the policy anniversary nearest age 60 of the insured, we will continue waiver
until the insured is no longer totally disabled. If total disability begins after the policy anniversary nearest the
60th birthday of the insured, we will continue waiver until the insured is no longer totally disabled, but no longer
than the policy anniversary nearest age 65 of the insured.
We will not deduct the cost for this rider when the specified premium is being waived. Cost of insurance and monthly
expense charge deductions for the policy and all other riders will continue to be made.
When waiver begins, we will waive the specified premium on each monthly processing date following the date total
disability begins and credit to the account value any deductions made for this rider while the insured was totally
disabled, including the four-month waiting period. If your policy lapses during the four-month waiting period, we
will reinstate it without evidence of insurability if your claim is approved.
Until your claim is approved, you should keep the policy in force. If it lapses during the waiting period or during
the approval process and your claim is not approved, any reinstatement application will only be approved if the
insured submits satisfactory evidence of insurability. If your claim is approved, the policy will be reinstated
without evidence and the specified premium will be credited to the policy for the period of total disability. This
credit will not exceed one year’s specified premium.
There will be no benefit under this rider if total disability results directly or indirectly from:
1. injury occurring or disease first manifested before this rider was in force;
2. injury incurred or disease contracted while committing a felony, as defined in the jurisdiction in which this
policy is delivered;
3. intentionally self-inflicted injury;
4. insurrection, declared war, or undeclared war; or,
5. any act or occurrence incidental to the above.
Insured means the person whose life is insured under the policy. Insured does not include any person insured by any
other rider attached to the policy.
Definition of Total Disability
Total disability means a disability resulting from bodily injury or disease. During the first 5 years of disability,
the total disability must substantially prevent the insured from performing the material duties of the occupation
the insured had when the disability began. After 5 years from the date the disability began, the total disability
must prevent the insured from performing the material duties of any occupation for which the insured is reasonably
fitted by education, training or experience.
If the insured is primarily a student or homemaker at the time the disability begins, that activity will be treated
as the insured’s occupation. If the insured is primarily a student at the time disability begins, total disability
means complete inability to attend school outside of the home. If the insured is primarily a homemaker at the time
disability begins, total disability means complete inability to perform household duties.
We will also consider the insured totally disabled as long as the insured has the irrecoverable, total and complete
1. all sight in both eyes;
2. use of both hands;
3. use of both feet;
4. use of one hand and one foot;
5. speech; or,
6. hearing in both ears.
The loss of sight, hearing, speech or loss of use of limb must occur or first manifest itself after the rider
effective date and while this rider is in force.
Cost of Benefit
The cost of this rider is determined monthly. The cost for this rider is deducted from the account value of the
policy on each monthly processing date until the rider terminates except as provided in The Benefit provision.
The monthly cost for this rider is based on the insured’s rate class and attained age nearest birthday on the last
policy anniversary. If the insured is in a standard, preferred or guaranteed issue rate class, the monthly cost for
this rider is calculated as follows: the monthly factor from the table at the end of this rider is multiplied by the
monthly specified premium shown in the schedule. If the insured is in a rate class other than standard, preferred or
guaranteed issue, we will multiply these rates by the appropriate rating factor for that class. The rating factor is
shown in the policy Schedule.
After this rider has been in force during the insured’s life for two years from the effective date, we will not
contest the statements in the application for the rider attached at issue.
After this rider has been in force during the insured’s life for two years from the effective date of any increase
in the benefit provided by this rider due to an increase in the specified premium with respect to the insured, we
will not contest the statements in the application for such change.
After this rider has been in force during the insured’s life for two years from the effective date of any
reinstatement, we will not contest the statements in the application for such reinstatement.
Notice and Proof of Total Disability
Unless it is not possible to send proof earlier, we must receive proof of disability:
1. within one year after onset of total disability;
2. during the lifetime of the insured;
3. during the period of total disability; and
4. before the policy anniversary nearest the 65th birthday of the insured.
Failure to give us timely notice and proof of claim will not affect any claim if given as soon as is reasonably
possible. In no event will we waive specified premiums for any monthly processing dates more than one year prior to
the date we received written notice and proof. We will have the right to designate one or more doctors to examine
Proof of Continuance of Total Disability
We will need regular proof from the insured that he or she is still totally disabled. We may require this proof even
though we have accepted proof of the total disability. After the total disability has continued without interruption
for two full years, we may require proof of an examination only once a year. Proof may include medical exams by
doctors we choose. Waiver of the specified premium amount will stop if:
1. proof is not sent when requested;
2. the insured refused to submit to examination; or
3. the insured is no longer totally disabled.
Notice of Recovery from Total Disability
You must give written notice to us if and when the insured recovers. This written notice must be given as soon as
the insured recovers.
Change in Specified Premium
At any time after the first rider anniversary, the specified premium provided under this rider may be changed. The
amount may be increased or decrease by a written request from you to change the amount. You may decrease the amount
only once each policy year. The change in the specified premium may not be for an amount of less than $5 per month.
Such change is subject to the following conditions:
1. The specified premium under this rider in effect after any requested decrease may not be less than $25 per month.
2. The specified premium may not exceed our normal issue limits as a result of your request. We will notify you if
the amount you request needs to be adjusted.
3. Any request for an increase must be applied for on a supplemental application. The increase is subject to
evidence satisfactory to us that the insured is still insurable according to our normal rules. An increase will also
be subject to the existence of sufficient cash surrender value to cover the monthly deduction for the next two
4. For any increase in specified premium, the effective date will be the monthly processing date that falls on or
next follows the date the supplemental application is approved by us. For any decrease in amount, the effective date
will be the monthly processing date that falls on or next follows receipt of the written request to reduce coverage.
The effective date of an increase or decrease will be shown in a supplemental policy schedule which we will send to
This rider will terminate upon the earliest of the following:
1. the policy anniversary nearest the 65th birthday of the insured. However, if total disability begins before the
policy anniversary nearest the 60th birthday of the insured, the benefit will continue as stated in The Benefit
2. the expiration of the grace period of the policy;
3. the termination or surrender of the policy;
4. the receipt by us of a written request from you to cancel this rider on any monthly processing date; or
5. when this policy is kept in force under the Guaranteed Minimum Death Benefit feature.
Any deduction for the cost of total disability insurance after termination of this rider will not be considered a
reinstatement of this rider nor a waiver by us of the termination. Any such deduction will be credited to the
account value of the policy as of the date of the deduction.