Sentences with phrase «if life insured»

Death Benefit: If the life Insured dies within the policy tenure, future premiums are waived and the maturity benefit is payable as per schedule.

However if the Life Insured dies within waiting period then 100 % of the premium paid since the date of commencement or reinstatement of policy (as the case may be) excluding all applicable taxes, cesses and levies as imposed by the Government is payable.

If the Life Insured dies or is diagnosed with any of the Critical Illnesses, then the Sum Assured is paid and the policy continues.

If Life Insured is diagnosed with CiS or Early Stage Cancer or Major Stage Cancer or dies during the Waiting Period, then no benefit is payable apart from refund of 100 % of the premium paid since the date of commencement or reinstatement of policy (as the case may be) excluding all applicable taxes, cesses and levies asimposed by the Government along with any other cess and late fee and / or interest payment paid on reinstatement.

is a unit linked insurance plan (ULIP), such that if the Life Insured dies within the policy tenure, the nominee would receive both the Sum Assured and the Fund Value as Death Benefit.

However, if the Life Insured dies within the Policy Tenure, the nominee would get 25 % of the of the Sum Assured + accrued Reversionary Bonus is paid as Immediate Death Benefit and the policy continues.

If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of reinstatement of the Policy, the Policy shall be void and the Company will only be liable to pay the higher of 80 % of premiums paid or the surrender value.

If the Life Insured meets with an accidental death and had opted for Extra Life Option, then he would an additional Sum Assured as Accidental Death Benefit.

However, if the Life Insured dies within the Policy Tenure, then the Sum Assured is paid as Immediate Death Benefit.

However, if the Life Insured dies within the Policy Tenure, higher of 10 times the Annualized Premium or the Sum Assured + accrued Bonuses would be paid to the nominee as Death Benefit and the policy terminates.

In case of these plans, if the life insured does not die during the tenure of the plan, the life insurance company either gives back just the premium or gives back the premium with additional investment returns.

If the life insured has bought a sum assured of Rs. 1 crore, then on death, a lumpsum amount of Rs. 1 crore will be paid to the nominee and the policy will terminate.

HDFC Pro Growth Super II Plan is a unit linked insurance plan (ULIP), such that if the Life Insured dies within the policy tenure, the nominee would receive both the Sum Assured and the Fund Value as Death Benefit.

if Life Insured produces an evidence of insurability at Your own cost which is acceptable to Us; and

In this plan if the Life Insured, i.e. the parent dies or is diagnosed by a critical illness within the policy tenure, the nominee, i.e. the child would receive the Sum Assured in a lump sum to address the immediate needs of the family and the future premiums would be paid by the company either towards the fund or to the beneficiary.

-- Ankit Kapadia If the life insured had left a valid Will, then that will be honoured.

This exclusion states that the insurer is not liable to pay if the life insured dies as a result of the war.

It states that if the life insured dies due to the involvement in dangerous adventure activities such as river rafting, para-gliding, skiing, rock climbing, etc., the insurance company is not liable to pay the policy benefits.

If the Life Insured survives the policy term and all the premiums are duly paid, the life insured will receive 100 % of your sum assured with accrued Guaranteed Additions.

# If the life insured dies before 60 years of age, Sum Assured payable on Death is reduced to the extent of Partial Withdrawals made during the last two years prior the date of death.

The death benefit is payable if the life insured dies during the term of the policy provided the policy is premium paying.The death benefit payable to the nominee is equal to the death sum assured under the policy.Death Sum Assured is defined as the higher of 10 times the Annualized Premium OR 105 % of all the premiums paid as on date of death of the Life Assured, OR Guaranteed Maturity Benefit (i.e. Basic Sum Assured), OR Absolute amount assured to be paid on death (i.e. Basic Sum Assured).

No surrender value is payable if life insured discontinue in first three policy years.

If the life insured survives at the maturity date of the policy provided policy is in - force, vested bonus plus terminal bonus is payable.

-- Vijay Mathur Some life insurance policies allow a portion of the death benefit to be paid before death if the life insured has developed a terminal illness.

It states that if the life insured commits suicide within the first year of the commencement of the policy, the insurance company is not bound to pay the policy proceeds.

If the Life Insured survives the policy term and all the premiums are duly paid, the life insured will receive the following as maturity benefit which depends on the policy term option chosen.

Life Annuity Certain for 15 Years: Annuitant receives annuity payout at a constant rate for the first 15 years and for life thereafter, if the life insured survives for more than the period of 15 years.

If the life insured survives at the maturity of the policy term, Sum Assured + Accrued Reversionary Bonuses + Terminal Bonus will be payable to the life insured.

This benefit will continue even if the Life Insured attains 18 years of age during the tenure of the policy.

Also, the death benefit is payable if the life insured dies during the policy term.There is no maturity value attached with pure term plans.

Maturity Benefit: Sum Assured on Maturity, which is the Sum Assured applicable under the Policy, is paid if the Life Insured survives till the Maturity of the Policy and the policy is in force.

It is the amount which the insurance company pays to the policy holder on the completion of the Policy Term, if the Life Insured has survived the entire duration of the Policy.

If the life insured survives till completion of the policy term, the guaranteed maturity benefit equal to Sum Assured on Maturity plus Guaranteed Additions plus Loyalty Benefit.

Under this plan you can only avail death benefits i.e. if the life insured dies, then the entire sum assured is handed to the nominee of the policy.

Pure Income Benefit Option: If the life insured survives during the benefit payout period (starts immediately after completion of the premium payment term till maturity of the policy), he / she will receive Annual Guaranteed Income, Special Additional Bonus, & Simple Reversionary Bonus.

iii) Women Critical Illness: Under this rider, if the life insured (female) has been diagnosed with any critical illness that is covered under this rider, then a certain percentage of the base sum assured will be paid.

If the Life Insured survives beyond 60 years of age, then he would get 5 % of the Sum Assured every year as Money Back Living Benefit till age 80.

In this plan, if the Life Insured dies within the policy tenure then his nominee would receive Double or Triple the Sum Assured (according to the variant opted for) + accrued Bonus.

There is Double Death Benefit in this plan, such that if the Life Insured dies within the policy tenure, the nominee would receive the Sum Assured + the Fund Value as Death Benefit.

In this plan, if the Life Insured dies within the Policy Tenure, the nominee would receive the Death Benefit under:

On the death of the life insured 100 % of the policy sum assured is paid as lumpsum amount along with an additional lumpsum amount if the life insured dies due to an accident.

However if life insured is < 8 years, commencement of risk attains once the life insured is 8 years or once the policy completes 2 years of time frame.

Now, if the Life Insured survives the entire term, then he would receive basic Sum Assured + accrued Bonus.

The terms of that «contract» and the obligations on each party will be dependent on the country (and possibly the state), however for term life insurance policies generally the life insured is obligated to pay the premiums for the insured sum and if the life insured has met the application obligations in obtaining the policy, the life insurance company is obligated to pay that sum.

If Life insured is 8 years and above, commencement of risk is immediate.

The only difference is one policy doesn't pay anything on maturity and the other policy returns all the premiums on maturity if the life insured survives.

E.g. 1) if life insured is 5 years age, then commencement of risk is at the age of 7 years of the life insured (2 years completed).

During the tenure of the plan, if the life insured is diagnosed with any of the above critical illness, then the premium for the remaining policy tenure is waived off.

If the Life Insured is diagnosed of a terminal illness with a life expectancy of six months or less, he will get upto 50 % of Sum Assured (subject to a maximum of Rs. 5,00,000) and the remaining Sum Assured when he dies.

If the life insured survives the entire tenure of the policy then on maturity the life insured doesn't get anything.