Glossary beginning with W

Insurance Glossary

Waiver of Premiumsearch for term
  • A provision in some insurance contracts which enables an insurance company to waive the collection of premiums while keeping the policy in force if the policyholder becomes unable to work because of an accident or injury.
Whole Life Insurancesearch for term
  • Covers you for your lifetime.
  • Also provides long term savings.
  • Pays a 'cash value' upon termination of the policy.
  • Pays the benefit including any declared bonuses on your death or if you become totally and permanently disabled.
  • Premium payments are payable over your lifetime or for a limited period.