What does Payor Rider mean? Read on to discover the definition & meaning of the term Payor Rider - to help you better understand the language used in insurance policies.
Available under certain juvenile life insurance policies, upon payment of an extra premium. Provides for the waiver of future premiums if the person responsible for paying them dies or is disabled before the policy becomes fully paid or matures as a death claim, or as an endowment, or the child reaches a specific age.
We hope the you have a better understanding of the meaning of Payor Rider.