Gurugram, Oct. 6 -- Parents plan children's milestones through years of disciplined investing. But what happens to the financial goal in the absence of the premium paying parent? Recognizing this gap, Policybazaar brings to light an important but often overlooked feature of life insurance that can help families stay protected when an unforeseen event affects their ability to pay premiums.

In the absence of the policyholder, the Waiver of Premium (WOP) feature ensures that future premiums are taken care of by the insurer. This makes sure that the child savings or insurance plan continues as per its terms. The need for this protection is reflected in Policybazaar's claims experience. Since 2018, 3,550 claims have been processed, representi...