Final answer:
Waivers for Impairments exclude coverage for an underlying condition in an insurance policy, allowing individuals with high-risk pre-existing conditions to still obtain insurance for unrelated issues.
Step-by-step explanation:
Waivers for Impairments are policy addendums that specifically exclude coverage for an underlying condition when applying for insurance. These waivers are often required when an individual has a pre-existing condition that the insurance company considers to be a high risk for claims. When a waiver is in place, it means that the insurance policy will not provide benefits for any issues related to the excluded condition, however, it allows the individual to still obtain coverage for other unrelated medical issues.