Premium waiver a welcoming option for laid-offs
Jul/090
With the economy going south, maintaining coverage and at the same time saving money on the premium has become a concern with the professionals. Therefore they are looking for policies that would react according to their income fluctuation. Premium waiver can be a welcoming relief for people in financial crunch.
What does premium waiver do?
Premium waiver has been a known option with the life insurance policies. Under normal circumstances you would have to discontinue the life policy if can’t afford the premium. But premium waiver allows the insured to continue enjoying the coverage when he/she is receiving disability benefits and can’t afford the large premium payment towards life insurance. However, you need to specifically ask the agent for this rider because it may not come with every life insurance plans.
Guardian’s ProVider Plus with premium waiver option for unemployed
The Guardian Life Insurance Company of America has recently announced a policy called ProVider Plus, which would have the option of premium waiver for a year if you become unemployed.
The ProVider Plus is an individual disability plan which would continue covering the insured even during the period of unemployment, so that you no longer have to put-off the idea of purchasing policy when you are not earning.
About Juanita
Juanita is an active community member of ampminsure.org. She enjoys helping the community with their insurance related queries. She is a financial writer, enjoys writing over various financial issues, having her web presence across the web world.