Waiver of premium

A feature that stops your premiums while a claim is being paid, so cover continues free.

Most income protection policies include a waiver of premium: while the insurer is paying your claim, you stop paying premiums but the cover stays in force, ready to pay again if you relapse or a new condition strikes after you return to work. Premiums restart when the claim ends. The exact trigger — some policies start the waiver only after a set number of weeks on claim — is stated in the policy wording.