Which rider requires total disability before it becomes effective?

The waiver of premium rider becomes effective only after an insured individual has been deemed totally disabled according to the terms of the policy. This rider allows for the waiver of premium payments during the period of total disability, meaning the insured does not have to pay their insurance premiums while they are unable to work and earn an income due to their condition. This provides financial relief during a challenging time when the insured may be concerned about maintaining their coverage while facing significant medical and personal challenges associated with their disability.

The other riders mentioned serve different functions: the payor rider typically applies to juvenile policies where the premium is waived if the payer (usually a parent) becomes disabled or dies; the guaranteed insurability rider allows for additional coverage to be purchased in the future without requiring evidence of insurability; and the exchange privilege rider allows policyholders to switch to a different policy under certain conditions, which does not hinge on disability status. Each of these riders operates under different stipulations and does not require total disability to take effect.