Life’s unexpected turns can sometimes lead to debilitating circumstances, restricting your ability to work and generate income. These scenarios can create financial stress, especially when it comes to meeting regular commitments like insurance premiums. The Waiver of Premium cover as a strategic solution to this problem.
Waiver of Premium cover
steps in during times of total or partial disability, taking away the responsibility of paying your insurance premiums when you are unable to work due to an illness or injury. This cover is designed to step into action after a chosen waiting period, relieving you from the burden of premium payments during your treatment and recovery period.
The idea behind the Waiver of Premium cover is to allow you to maintain your insurance benefits, even when your earning capability might be impaired due to health issues. This cover is compulsory with income protection, trauma, TPD, life insurance and mortgage payment policies and it can also be added to medical for a small additional monthly fee. With Waiver of Premium cover, you can focus on your recovery without the additional financial stress of paying insurance premium payments.
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