Which of the following is true regarding a person receiving a waiver of premium benefit?

When it comes to the waiver of premium benefit, it is essential to understand the criteria that allow a policyholder to take advantage of this benefit. The correct option highlights that the insured must be disabled for a certain period to qualify for the waiver. This represents a fundamental aspect of the waiver of premium provision in insurance policies, usually tied to specific conditions regarding the nature and duration of the disability.

In typical insurance arrangements, the waiver of premium is designed to provide protection to the insured when they are unable to work due to a qualifying disability. This mechanism is crucial because it reflects the understanding that financial obligations, like premium payments, can become challenging during periods of significant health challenges. Therefore, the requirement for the insured to be disabled for a set duration is a necessary criterion to ensure that only those truly in need benefit from this provision.

The other options describe scenarios that do not accurately reflect how waiver of premium benefits operate. For instance, premiums are usually waived only while the insured remains disabled and not for the lifetime of the policy. Automatic granting of a waiver at age 65 is also inaccurate, as that age does not inherently change the conditions surrounding disability. Additionally, once an insured recovers from their disability, they are typically required to resume paying premiums,