Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider (UIN: 110B029V02)
When any member of the family becomes totally and permanently disabled, it lays a significant financial stress on the family’s budget. Meeting the unexpected costs of treating and managing such a disability may make it difficult to keep up with the premium payments charged on the life insurance investment plan. Death of an earning member can also interfere with the premium paying capability. Failing to pay life insurance premiums as and when they’re due would result in policy lapse and cancellation of your coverage.
The Tata AIA Life Insurance Waiver of Premium Plus (WOPP) Rider is an optional premium paying rider, which ensures that insurance benefits under the plan continue to remain in place, even if you are unable to pay the premiums owing to total and permanent disability, or death of the policyholder.