Waiver

Plain English Definition: A waiver is a voluntary relinquishment of a right or claim.

What Waiver really means for someone with an insurance policy

In insurance, a waiver typically means the insurer voluntarily gives up a right, such as denying coverage under certain conditions.

Waiver Real World Examples

• An insurer waiving premium payments due to disability.
• A health plan waiving the waiting period for pre-existing conditions.
• An insurer waiving late payment penalties after a disaster.