A more thorough explanation:

A waiver-of-premium clause is a provision in an insurance policy that allows the insured person to stop making premium payments if they become disabled for a certain period of time, usually six months. This means that the insurance company will continue to provide coverage even if the insured person is unable to pay the premiums due to their disability.

John has a life insurance policy with a waiver-of-premium clause. He becomes disabled due to an accident and is unable to work for six months. Because of the waiver-of-premium clause, John does not have to pay his insurance premiums during this time, and his coverage remains in effect.

Another example is a disability insurance policy that includes a waiver-of-premium clause. If the insured person becomes disabled and is unable to work, the insurance company will waive the premium payments for the duration of the disability, ensuring that the person's coverage remains in effect.

These examples illustrate how a waiver-of-premium clause can provide financial protection for insured individuals who become disabled and are unable to pay their insurance premiums. It ensures that their coverage remains in effect, even if they are unable to make payments due to their disability.