Waiver of Premium is an option that can be added to your Life/Mortgage Assurance to protect your policy payments.
This additional cover means that your insurer will take over your monthly policy payments six months after you become unable to work through an illness or accident. So for periods of long disability or illness, your cover will continue free of charge. Your claims would stop when you are deemed fit to return to work.
This option is recommended alongside your Life Cover because if you were unable to continue to make payments for this cover then it would be withdrawn and you would lose the future security the policy provides.
This service is provided and administered by Direct Life and Pension Services Ltd (DLPS), who are authorised and regulated by the Financial Services Authority.