What is one of the conditions for a waiver of premium to apply?

The correct answer highlights the critical condition necessary for a waiver of premium provision to take effect. Specifically, a policyholder must become disabled according to the policy's definition. This requirement is fundamental because the waiver of premium is designed to protect individuals who are unable to work due to a qualifying disability, ensuring they do not lose their life insurance coverage during a time when they may have limited financial resources.

This condition emphasizes the importance of the policy's specific definition of disability, which often outlines the severity and duration of the disability required for the waiver to be activated. Without meeting this criterion, the waiver would not be applicable, and the policyholder would still be responsible for paying premiums to keep the policy in force.

In contrast, filing a claim is a common procedure that may be necessary for various benefits but is not a condition for the waiver itself. Being under 50 years old is not relevant to the waiver of premiums, as age does not typically impact eligibility for this provision. Lastly, while the insurer’s discretion plays a role in many aspects of underwriting and claims, the activation of the waiver of premium is not left solely to the insurer’s judgment, but rather is bound by the predetermined terms set forth in the policy.