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Byron Adele, founder and CEO of A Q Quote since 1986, explains how the optional feature called waiver of premium in life insurance policies can be beneficial to policyholders. This feature allows the insurance company to pay the premiums if the policyholder becomes totally disabled before the age of 60, ensuring the policy remains in force. Adele emphasizes the importance of this feature in providing financial support during a disability, highlighting the need to consider the terms and conditions of different carriers.