What is the primary benefit of the waiver of premium feature?

The primary benefit of the waiver of premium feature is that it allows the insured to skip premium payments while receiving benefits. This feature is particularly valuable in situations where a policyholder becomes disabled and is unable to work. The waiver of premium ensures that the individual can maintain their insurance coverage without the financial burden of premium payments during a time of hardship. This helps ensure continuous coverage without lapsing due to non-payment, which is critical for individuals reliant on their health insurance for services and care during their disability.

This feature is especially important in income protection and disability insurance policies, where maintaining coverage while incapacitated is vital to secure ongoing support. The other options do not accurately describe the primary purpose of this feature, as they pertain to different aspects of insurance benefits or coverage arrangements.