What type of rider is attached to a life insurance policy to ensure premiums are paid if the insured is disabled?

The Waiver of Premium rider is designed specifically to address the situation where the insured becomes disabled and is unable to work. When this rider is included in a life insurance policy, it stipulates that if the insured becomes totally and permanently disabled, the insurance company will waive the requirement to pay premiums for the duration of the disability. This ensures that the policy remains in force even though the insured is unable to financially contribute due to their disability.

This feature is particularly beneficial because it allows the insured to maintain their life insurance coverage without the burden of premium payments during a period when they may be experiencing significant financial hardship. By waiving premiums, the insurer helps protect the insured's beneficiaries from potential loss of coverage due to non-payment, which could happen if the insured's income was compromised due to their disability.

The other riders serve different purposes: for example, the Accidental Death Rider provides an additional benefit in the event of death resulting from an accident, while the Premium Return Rider offers a return of premiums paid if the insured outlives the policy term. The Disability Income Rider, on the other hand, provides a stream of income during a disability, but does not specifically address the payment of premiums. Thus, the Waiver of Premium rider directly ensures that the