What does WP stand for?

If one chooses Waiver of Premium option, all future premiums will be waived in the case of an unfortunate eventuality on the customer and the guaranteed income will continue, just as one had envisaged, he added.

Policy Riders You can add the waiver of premium rider to your policy.

The Waiver of Premium rider may be just the right approach to addressing this issue.

Agents must provide an outline of coverage to all prospective applicants that must include: a brief description of benefits along with limitations or exclusions; terms under which the policy may be returned and the premium refunded; relationship of the cost of care and benefits; and terms under which the policy may be continued, including any waiver of premium provisions.

Partial disability is covered, and other benefits such as waiver of premium while disabled are included at no charge.

Mr I M from Hexham writes: Would you explain to me what waiver of premium means when I take out a life policy?

Other features include the Waiver of Premium facility ('OwnOccupation' definition is preferred),non-smoker rates and the guaranteed insurability options for such events as marriage, childbirth,moving house etc.

Everything else waiver of premiums, respite care, bed-hold benefit, care coordination and others are the "bells and whistles.