Definicja waiver of premium

Personal insurance:

(Re)organizing of a policy product so that premiums do not have to be paid; for example, when a one-time premium is paid or an insurance policy is converted to a premium-exempt insurance policy, or if the premium payment duration agreed to in the policy product has expired.

Property insurance:

(Re)organizing of a policy product so that the insurer continues to assume liability, but does not receive payment of the premium.