To make a financial security plan for life with an insurance policy is a smart decision. However, what would happen if one unfortunately suffered disablement or death and became unable to pay the insurance premiums?
As supplementary benefits, Manulife's Waiver of Premium and Special Waiver of Premium products help secure the basic life insurance plan.
These two benefits can be added onto your endowment plan to make your basic policy more complete.
Waiver of premium is a supplementary benefit applicable to the policy owner in the event of total and continuous disability due to disease or bodily injury for at least 6 consecutive months which prevents him/her from engaging in any occupation or from performing any work for remuneration or profit.
Special waiver of premium is a supplementary benefit applicable to the policy owner in the event of death. This product is only sold together with Waiver of Premium.
Features
|
Age of entry: 20 – 60 years old, extension to 65 years old
|
|
The premium waived will be the premium according to the mode of payment in effect (monthly, quarterly, half-yearly or yearly) when the death or total disability began. |