What is it?
The disability waiver of premium rider states that once the insured has been totally disabled for six continuous months, the following premiums will be waived:
- Any premium due following the first six continuous months of the insured’s total disability
- Any premium that was due during the first six continuous months of the insured’s total disability
- Any premium that was due during the 31-day period before total disability began, excluding the first premium
If any of the above mentioned premiums have already been paid to MassMutual, they will be refunded once the waiver benefit is allowed.
MassMutual will waive their entire policy premium during a period of disability. The definition of disability provides a five-year “own occupation” period.
Those who think they would be in danger of not being able to afford the premium if they were to become disabled may want to consider this option. Note: This rider is available with an additional monthly fee for applicants under the age of 60.
How do I add it to a Coverpath quote?
Select Quote or Apply, then check the Waiver of Premium checkbox.
The Fine Print
See the attached document for full details.