Final answer:
A life insurance policy offering continued coverage without premium payments upon the insured's disability has a Waiver of Premium rider. This rider relieves financial pressure while preserving benefits and cash value.
Step-by-step explanation:
A Waiver of Premium rider is a valuable addition to a life insurance policy, guaranteeing that the policyholder won't be burdened with premium payments if they face critical illness or disability. This rider serves as a financial safety net, relieving policyholders from the obligation to pay premiums during challenging times, allowing them to focus on recovery without the worry of maintaining their life insurance coverage.
This provision not only ensures the continuation of the death benefit but also preserves the policy's cash value, which can be crucial for personal use or emergencies. In essence, the Waiver of Premium rider provides policyholders with peace of mind, assuring that their life insurance remains in force even when unforeseen circumstances threaten their ability to meet financial obligations. It's a compassionate and practical feature that adds significant value to the overall security provided by the life insurance policy.