Disability Waiver of Premium near New York Life Ins.?
7 years ago,I purchased "5 year term"life insurance.I was offered a Waiver of Premium if I become disabled.I have had this waiver and rewarded for it for the past 7 years.I have a spanking new agent who brought this up to me and I was already on disability before I purchased the Life Ins.The other agent primarily filled out all the paperwork,I told him I be on disability and he still offered this waiver.I really didnt' know much about at the time.I wrote a letter to my Insurance Co.They are sending me an "Offer Letter" tommorrow.Has anyone else have this happen to them?Or know much about it? My agent looked-for me to tell them to pay adjectives my premiums,etc but I felt like it wasn't right.Anyways,a short time ago wondering what others think or know of this.
Answers:
If you are disabled, then the waiver rider shouldve kicked within. Meaning you shouldnt being paying any premiums for the length of the disability and possibly your life span insurance converts to a permanent life insurance product if you have term to begin beside. As a former agent at Northwestern Mutual that wouldve been the case.
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Answers:
If you are disabled, then the waiver rider shouldve kicked within. Meaning you shouldnt being paying any premiums for the length of the disability and possibly your life span insurance converts to a permanent life insurance product if you have term to begin beside. As a former agent at Northwestern Mutual that wouldve been the case.
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