Waiver of restoration premium
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  Waiver of restoration premium



   
Waiver of restoration premium

Waiver of restoration premium is 1) the agreement/ decision of foregoing any premium for reinstateing the face amount of coverage under an insurance policy after it has been reduced by the amount of a loss payment. 2) the provision, especially in bonds, for automatic restoration of the full amount of protection without cost for the insured.
       
      

 

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