What happens to future premiums if the insured becomes totally disabled for an extended period under a Waiver of Premium Rider?

When a Waiver of Premium Rider is in effect, it provides significant financial protection to the insured in the event of total disability. Specifically, if the insured becomes totally disabled for an extended period, the insurer will waive the requirement for future premium payments. This means that while the insured is unable to work and earn income, they do not have to worry about losing their life insurance coverage due to inability to pay premiums.

This rider is essential for individuals who may face significant medical and financial burdens due to an extended period of disability. Instead of requiring the insured to maintain premium payments during a time when they may be financially strained, the insurance company assumes the responsibility for these payments. As a result, the policy remains in force, and the insured retains access to the benefits of the policy without any added financial stress.

The other choices do not accurately reflect what occurs under a Waiver of Premium Rider. The insured does not need to pay premiums at a higher rate, nor do they receive reimbursement for previous premiums, and their policy benefits are not reduced simply due to invoking this rider. Instead, the focus is on ensuring that the insured continues to have coverage without the financial burden of premium payments during their period of total disability.