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Byron Adele, founder and CEO of A Q Quote, discusses the waiver of premium feature in life insurance policies, established to prevent policy lapses due to customer disabilities. When individuals become disabled and lose income, they often prioritize essential needs like food and shelter over life insurance. This feature allows the life insurance company to cover the policyholder's premiums starting from the seventh month of total disability, typically if the disability occurs before age 60. Although terms may vary by carrier, this provision is crucial for maintaining life insurance coverage during challenging times. Adele emphasizes key considerations regarding this benefit.