All of the following are true regarding the waiver of premium rider when it is attached to a whole life insurance policy EXCEPT: An additional premium is charged. It usually drops off the policy when the insured turns age 65. The amount of the waived premium due is treated as a policy loan. Premiums are waived after the insured has been disabled for 6 months.
1) An additional premium is charged
2) It usually drops off the policy when the insured turns age 65
3) The amount of the waived premium due is treated as a policy loan
4) Premiums are waived after the insured has been disabled for 6 months