InsuranceTerm contract Policy Bonuses Non-participating policy Second-to-die life insurance Surplus Surety bond
Premium Waiver Benefit(PWB)
Premium waiver benefits refer to the benefits that can be obtained through a policy where the future premiums, up until the vesting date, are waived in case of the proposer's demise. This provision allows the policyholder's family to continue receiving the policy's benefits, even after the policyholder's death. This feature offers financial security and peace of mind to the policyholder and their loved ones. It is a valuable aspect to consider when choosing a life insurance policy.
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