Category Archives: W – Asuransi Jiwa

whole life insurance

A type of cash value life insurance that remains in effect, if the premiums are current, until the insured dies. Also known *>s traditional whole life insurance

waiver of premium for payor benefit

A supplemental life insurance policy benefit that provides that the insurance company will waive its right to collect a policy’s premiums if the payor—the person responsible for paying premiums—dies or becomes totally disabled

waiver of premium for disability (WP) benefit

A supplemental life insur¬ance policy benefit under which the insurer promises to give up its right to collect premiums that become due while the insured is dis¬abled according to the policy or rider’s definition of disability

waiting period

See elimination period

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