Determination and calculation of the rate of waiver of premium for disability in life insurance actuarial calculation

In this paper,the relationship and the distinction between the rate of waiver of premium for payer's disability and the rate of the payer's disability are analyzed firstly.Then the accurate conception of the rate of waiver of premium is defined,and a formula for calculating that rate is given.Based on this formula, the method of calculating the net premium on the discrete condition is discussed. Finally,an example is given to show the distinction between the rate of waiver of premium and the rate of disability.