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Byron Adele, founder and CEO of A Q Quote since 1986, highlights how waiver of premium is a key feature in many life insurance policies. This feature was introduced to prevent policy lapses due to disability. If you become disabled before the age of 60, the insurance company will start paying your premiums in month seven of your disability. This benefit continues as long as you are disabled. The terms and conditions may vary by carrier, but this feature can provide valuable financial support during a difficult time.