What is the point of waiver of future premium riders for life insurance plans?

Hi Shwei, there's a few scenarios when this may happen.

1) Your riders do not fully accelerate the basic sum assured.

Assume you bought a 1m Life policy with a 500k CI accelerated payout. After a CI claim you'd still have 500k in death cover. You can buy a CI waiver to waive off remaining premiums of the balance 500k after a CI claim.

2) Your rider payout was an additional payout.

Similarly to the above scenario, in the event your base cover is still is still available after an additional CI claim, you can waive future premiums as well.

3) You're the payor for your child's life policy.

In this event, you can add a waiver of premium on the payor (which is you) should you fall ill, as there's no payout on the policy as your child is the life assured.

All options allow you to remain covered while not having to pay premiums anymore.