What must an insured do during the waiting period to qualify for the Waiver of Premium?

To qualify for the Waiver of Premium benefit, the insured must continue to pay premiums during the waiting period. This condition is crucial because the Waiver of Premium provision is designed to relieve the insured of their premium payment obligations due to a disability or other qualifying event. However, until the insurer has confirmed the qualification for the waiver—typically after a waiting period during which the insured continues to pay premiums—the policyholder must remain compliant with the premium payments.

This requirement ensures that coverage remains intact, preventing any potential lapse in the policy while the insured is waiting for the waiver to take effect. Upon meeting the conditions set by the insurance policy and after the waiting period, the insured can recover the premiums paid during that time, reflecting the true nature of the Waiver of Premium benefit as a safeguard for policyholders facing financial hardship due to qualifying events.