The Gerber Life Parenting Blog

Waiver of Premium Rider

May 7, 2014

Doctor Caring for PatientA safety net to a Gerber Life Whole Life Policy for those who become totally disabled.

If you’ve decided to buy life insurance, you have a lot to think about. What type of policy should you buy? How much should you budget to pay for the policy? What amount of coverage will you need to protect your family?

A question that may not be top-of-mind, especially for young adults, is how to pay the policy premiums (including rider) should you become completely disabled. With Gerber Life Whole Life insurance1 the answer is simple: You can buy a Waiver of Premium rider.

What is a rider?

A rider is a statement of provisions added to your main insurance policy. Riders offer the option of purchasing safeguards over and above those in the standard policy. The Waiver of Premium rider added to a Gerber Life Whole Life Policy protects you if you become totally disabled and can no longer make payments on your policy. Additionally, the benefit is payable during periods of pregnancy.

How a rider works

The rider “makes” the premium payments for policyholders who have become disabled before age 60. The disability must have persisted for at least six months for the rider to go into effect. Your insurance coverage will remain in force and the cash value that has been building in your policy will continue to grow. Your family will have the protection they count on.

Considering that you would have many bills to pay after suffering a disabling illness or injury, wouldn’t it be reassuring to have some extra cash available? With the rider in place to cover premiums, your Gerber Life Whole Life Policy would remain fully in force, and come with accumulated cash value that you could borrow against for expenses.

Before the rider can take effect following disability, Gerber Life will require proof of disability through statements from your doctor or doctors. You must demonstrate that you are totally disabled, meaning you can no longer perform the duties of your job or any other job for which you’ve become reasonably suited. This benefit is also available to homemakers.

Waiver of Premium rider costs

The cost of a Waiver of Premium rider to a Gerber Life Whole Life Policy depends on a number of factors, including the benefit amount of your insurance policy and your age at the time of purchase. Premium waiver riders are also available on other types of Gerber Life insurance products.

Total disability is an unfortunate circumstance for anyone. When a breadwinner is suddenly disabled, the loss of income can be devastating for his or her family. Yet – if you’ve planned ahead, there are safety nets, such as the Waiver of Premium rider to a Gerber Life Whole Life Policy. Your life insurance will continue, and your premiums will be paid until you reach age 60. That’s one less worry if you ever have to face the challenge of being totally disabled.


1 Policy Form ICC13-SWLP, Policy Form Series SWLP-13, Policy Form ICC13-HWLP, Policy Form Series HWLP-13

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