Final answer:
The provision that stops premium payments to the insurer while the insured is disabled is called the premium waiver. This feature helps maintain coverage for the policyholder during difficult times without financial burden. It is different from a grace period, policyholder dividend, or underwriting provision.
Step-by-step explanation:
The provision in a health insurance policy that allows for the interruption of premium payments to the insurer while the insured is disabled is known as the premium waiver. This is a feature that provides financial relief to policyholders in the event that they become unable to work due to a disability. The premium waiver ensures that the insured's coverage continues without the need for premium payments during this time.
It is important to note that the premium waiver is distinct from other terms such as the grace period, which refers to a time frame after a premium is due in which the policy remains active, and the policyholder dividend, which is a return of excess premiums. The underwriting provision, on the other hand, relates to the process that an insurer uses to evaluate the risk of insuring a potential policyholder.
The concept of coinsurance, where the policyholder and insurance company share the cost of a loss, is unrelated to the premium waiver but is another aspect of insurance policies.