Waiver of premium provides a means of insuring your life insurance monthly premiums. In the event that you are unable to work through ill health, payments are made until the end of the policy term, a specified age or until you are able to return to work.

It is usually purchased as an optional extra with your life insurance policy. This type of policy does not normally cover unemployment.

As with all insurance products, the terms and conditions of policies do vary so check the policy criteria in detail before committing yourself.