Total Disability Premium Waiver:
All of your premiums may be waived upon disability.
If you are under age 55, you can further protect yourself by adding the optional Waiver of Premium to your Term Life Insurance plan, subject to underwriting approval. If you choose the Waiver of Premium option, and become totally disabled prior to age 65 and remain totally and permanently disabled for at least 90 continuous days, your Term Life Insurance plan premiums and all premiums for any associated riders will be waived while your coverage stays in force, until you are no longer totally disabled. Rates are guaranteed for the first five coverage years and will continue to renew every five years thereafter. Total Disability Premium Waiver is available to income earners only and will expire on the policy anniversary coinciding with the insured person’s 65th birthday.
An insured person is considered disabled when, as a result of sickness or injury, he/she is unable to engage in any gainful occupation for which he/she is qualified or may reasonably become qualified through training, education or experience, and is under the regular care of a physician.
To add the Total Disability Premium Waiver to your Term Life Insurance plan coverage, get an application, complete it and return it to Manulife today.