The Waiver of Cost rider is typically associated with which type of life insurance?

The Waiver of Cost rider is typically associated with Universal Life insurance. This rider provides a significant benefit to policyholders by waiving the cost of insurance when the insured becomes disabled and is unable to pay the premiums. In Universal Life insurance, there are flexible premium payments and the potential for cash value accumulation, which makes the inclusion of a Waiver of Cost rider particularly beneficial. It ensures that the policy remains in force even if the policyholder faces financial challenges due to disability.

While Whole Life and Term Life products might offer similar riders, they do not do so under the same flexible structure and accumulation potential that Universal Life provides. Therefore, the association of the Waiver of Cost rider with Universal Life is grounded in its design features and the adaptability which aligns well with the rider's purpose.