{"id":1229,"date":"2017-03-28T12:52:01","date_gmt":"2017-03-28T10:52:01","guid":{"rendered":"https:\/\/www.namfisa.com.na\/educates\/?p=1229"},"modified":"2025-07-18T09:13:58","modified_gmt":"2025-07-18T07:13:58","slug":"premium-protection","status":"publish","type":"post","link":"https:\/\/www.namfisa.com.na\/educates\/premium-protection\/","title":{"rendered":"Premium Protection"},"content":{"rendered":"\t\t
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What is Premium Protection<\/h5><\/span><\/div>
In most life insurance policies,\npolicyholders are able to include what\nis known as premium protection.\nPremium protection or waiver of\npremium, as it is known in some countries,\nis a concept used in the insurance industry\nto protect the payment of premium by a\npolicyholder, due to an unforeseen event\nthat will disable the policyholder and\nprevent them from making premium\npayments.\nThis benefit is mostly available on\nlife insurance policies and is dependent\non the health and\/or occupation of the\npolicyholder.\n<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Note<\/h5><\/span><\/div>
Premium protection does not cover\ndismissal or firing from employment,\nadditionally it only covers payment for the\nlife insurance itself and does not pay for\nadditional expenditures such as mortgage,\ncar payments or any other expenditure<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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How Does it Work?<\/h5><\/span><\/div>
In the event that a policyholder is unable\nto pay for a premium, for example, because\nof a negative health (prolonged illness,\ndisability, etc.) or occupational (injury)\nevent, the insurer will continue to pay for\nthe policy on behalf of the policyholder.\nAdditionally, if a policyholder is\nresponsible for paying someone else\u2019s risk\ncover and the policyholder dies or becomes\ndisabled and is unable to pay the premium,\nthe insurer will continue to pay the premium\nto ensure that the cover continues.\nEven though it differs from insurer to\ninsurer, you may generally protect your\npremium from 18 to 70 years of age.<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Advantages of Premium Protection<\/h5><\/span><\/div>
If the protected benefit has increasing\npremiums in the future, the insurer will\ncontinue to pay the full premium.\nThere is no limit to the amount of cover\nyou can protect. You can protect your\npremium on any lump sum benefit.\nFactors That May Affect Your Eligibility\nfor Premium Protection\nAny family history of chronic and other\ndiseases negatively affect your instalment\nand\/or eligibility. Bad habits such as\nsmoking and excessive alcohol intake\nalso have an impact on your instalment\nand\/or eligibility. Your physical condition\nmatters; i.e. a BMI of greater than 35 might\nnegatively affect your instalment.\n\n<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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  • <\/span>Continuity of Cover - Your policy remains active even during financial difficulty<\/li>
  • <\/span>Covers Future Premium Increases - If your policy includes increasing premiums, the insurer will cover the full adjusted amount<\/li>
  • <\/span>No Limit on Cover - You can apply premium protection to any lump-sum benefit, regardless of the value<\/li><\/ul><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    Factors That May Affect Your Eligibility<\/h5><\/div>
    Your eligibility and premium for this benefit may be impacted by the following:\n

    \n- Health history: A family history of chronic illness may increase premiums or limit eligibility.\n
    \n- Lifestyle habits: Smoking and excessive alcohol consumption negatively affect eligibility.\n
    \n- Physical health: A BMI over 35 could result in higher premiums or reduced access to this benefit.\n

    \nPremium protection is a valuable feature that offers peace of mind, ensuring your life insurance remains in force even if life takes an unexpected turn. Speak to your insurer or financial advisor to find out if this benefit is right for you<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

    What is Premium Protection In most life insurance policies, policyholders are able to include what is known as premium protection. Premium protection or waiver of premium, as it is known<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":[],"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueState":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":"","_VenueShowMap":false,"_VenueShowMapLink":false,"footnotes":""},"categories":[428],"tags":[],"class_list":["post-1229","post","type-post","status-publish","format-standard","hentry","category-long-term-insuarence"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/comments?post=1229"}],"version-history":[{"count":9,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1229\/revisions"}],"predecessor-version":[{"id":35605,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1229\/revisions\/35605"}],"wp:attachment":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/media?parent=1229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/categories?post=1229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/tags?post=1229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}