Insurance Glossary: W

Waiting Period - See "elimination period."

Waiver of Premium - A provision in some insurance contracts which enables an insurance company to waive the collection of premiums while keeping the policy in force if the policyholder becomes unable to work because of an accident or injury. The waiver of premium for disability remains in effect as long as the ensured is disabled.

Whole Life Insurance - Life insurance which might be kept in force for a person's whole life and which pays a benefit upon the person's death, whenever that might be.

WA-with average

WACC-weighted average cost of capital

WAEPA-Worldwide Assurance for Employees of Public Agencies

WA3%-with average 3 percent

WARN-Workers' Adjustment Retraining Notification (Act of 1988)

WC-workers compensation

WCLA-Workers' Compensation Claim Law Associate

WCLS-Workers' Compensation Claim Law Specialist

WCRI-Workers Compensation Research Institute

WLRT-Women Leaders Round Table

WMD-weapon of mass destruction

WPA-with particular average

WYO-Write-Your-Own