Receive continuing life coverage and waiver of premium in case of the payer’s death or permanent disability
Get peace of mind with Payer Benefit rider to waive premium for the child’s policy (PB) that provides coverage in the unexpected event of payer resulting in an inability to continue paying premium. The company will waive premium payment and offer continuing coverage to the child according to the conditions of the policy.
Type 1 (PB1): Waiver of premium coverage in case of death and permanent disability of the payer
If the payer dies or becomes permanently disabled before the age of 60 or before the child reaches the age of 25, they will be waived from paying premium for the main contract and also other riders until the payer is 60 years old or the child is 25 years old whichever comes first. The child’s policy will take effect throughout that period.
Type 2 (PB3): Waiver of premium coverage in case of death of the payer only
Details of coverage are the same as in Type 1, but the coverage benefits will take effect in case of the payer’s death only.
Preliminary Underwriting Guideline
Insured age
- Children aged 31 days – 15 years old
- Payer aged 20-55 years old
Only valid for purchase of the rider at the same time as the new policy.
Policy applicants should study, read, and comprehend about coverage details and conditions before deciding to purchase. Please find more information from policy contract. In addition, company underwriting guideline will be applied.
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