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Waiver of Premium (WP) An optional policy provision, which continues the coverage without further insurance premium payments if the insured becomes completely disabled.

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War ClauseA provision in a life insurance policy exclusive of liability of an insurer if a loss is occurred by war.

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Whole Life InsurancePermanent insurance that provides, at minimum, a level death advantage upon the insured's death, or a cash bequest upon policy maturity, which is equal to the death benefit.

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WillThe legal statement of a person's desires regarding the disposal of his or her property after death.

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With-Profit policy Policies allowed to bonus, which is paid at the time of claim-death or at the maturity one with-profit insurance policies.

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Without-Profit policy These policies are not allowed to take part in bonuses.

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Yearly Renewable Term (YRT)A Term Life insurance policy, which provides a level death benefit with insurance premiums, which increase each year with the insured's age. YRT offers financial guard only in the affair of death and has no cash value. It is also known as Annual Renewable Term (ART) or One Year Term.

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