What is the typical waiting period for a Waiver of Premium rider in life insurance policies?

The waiting period for a Waiver of Premium rider is typically six months. This rider provides a valuable benefit by ensuring that the policyholder does not have to pay premiums if they become disabled for a specified period. The six-month waiting period allows insurance companies to establish the severity and duration of the disability. During this waiting period, the policyholder is still responsible for the premiums, but once the waiver is activated, the insurer takes over premium payments. It's important for policyholders to understand this waiting period when considering a Waiver of Premium rider, as it can affect their financial planning during potential disability events.