What is a 'waiver of premium' rider?

The waiver of premium rider provides that if the insured becomes totally disabled (definitions vary, often inability to work in any occupation) for a waiting period (typically 6 months), the insurance company waives premium payments and continues the policy in force as if premiums were being paid. Cash value continues to accumulate. The waiver continues as long as the disability continues, ending if the insured recovers and resumes working. The rider has an additional premium cost. It is particularly valuable for younger insureds who depend on income to pay premiums and for whom disability would jeopardize the policy. Disability income riders are related but different — they pay a monthly income to the insured rather than just waiving premiums.