Sentences with phrase «policy lapse during»

Minimum Monthly Premium Guarantee: Protects against policy lapse during initial 5 years as long as required minimum premium received.

Policy lapse during the life of the insured can cause the owner a single taxable event for the policy cash value growth accessed in or before the year of lapse.

Not exact matches

Speaking during a courtesy visit by the participants of Senior Executive Course 40, 2018 Study Group from the National Institute of Policy and Strategic Studies, Kuru, at the Government House Port Harcourt on Monday, Governor Wike said: «What we have seen in most cases is that security lapses are a result of political interference.

The No Lapse Guarantee Rider (NLGR) ensures that during the surrender charge period, if you fund your policy at the required premium to maintain the guarantee, the policy will not lapse, even if the cash surrender value is not sufficient to cover the policy's monthly deduction charges.

With this feature, premiums may be higher than normal, but as long as they're paid, your policy won't lapse during the guarantee period.

The mortgage unemployment insurance will waive your mortgage protection premium, during this time, allowing your mortgage protection policy not to lapse while you are seeking new employment.

In case of failure of premium payment during this time, the policy will lapse.

No Lapse Guarantee1 The policy is guaranteed to remain in force during the first five policy years if the total premium paid (less withdrawals and indebtedness) is at least equal to the cumulative monthly no lapse premium required.

Meanwhile, the insurance company, while collecting your premium, will not have to worry about paying your beneficiaries death benefits if you die outside of term life insurance coverage or during a period of policy lapse.

The No Lapse Guarantee Rider (NLGR) ensures that during the surrender charge period, if you fund your policy at the required premium to maintain the guarantee, the policy will not lapse, even if the cash surrender value is not sufficient to cover the policy's monthly deduction charges.

If your policy lapses or is canceled at any time during the mandatory SR22 filing period, three years in most states, your insurer is required by law to notify the DMV so your driving privileges can again be revoked or suspended.

Insureds will invest considerable sums in life insurance policies only to have their coverage lapse during their final days because they missed one premium payment.

The residuary payments for policies arising out of policies which stand lapsed, surrendered or discontinued during the lock - in period shall be payable on the expiry of the lock - in period.

He also had the option of not taking the «gamble» by letting the policy lapse at that stage if, in his opinion, he could not afford the premium or was not likely to die during the 10 year period.

If the policyholder does not pay the premium even during the grace period after the expiry of the renewal date, the policy lapses.

Lapsed Policy Reinstatement: If the premium due remains unpaid by the end of the grace period, the policy gets lapsed and no life cover will be provided to you during lapse pLapsed Policy Reinstatement: If the premium due remains unpaid by the end of the grace period, the policy gets lapsed and no life cover will be provided to you during lapse pPolicy Reinstatement: If the premium due remains unpaid by the end of the grace period, the policy gets lapsed and no life cover will be provided to you during lapse ppolicy gets lapsed and no life cover will be provided to you during lapse plapsed and no life cover will be provided to you during lapse period.

If you fail to pay the premium even during this grace period, your policy will lapse.

If the insured again fails to clear all the due premiums during this time, then the policy lapses.

Yes, the policy which has acquired a paid - up value or has lapsed due to the failure of premium payments can be renewed during the policy renewal period by paying the premium arrears along with the current interest rates.

Policy Lapse: If the insurance premium remains unpaid during the grace period in the first 3 policy years, the insurance policy lapses (together with riders) from the due date of the unpaid prPolicy Lapse: If the insurance premium remains unpaid during the grace period in the first 3 policy years, the insurance policy lapses (together with riders) from the due date of the unpaid prpolicy years, the insurance policy lapses (together with riders) from the due date of the unpaid prpolicy lapses (together with riders) from the due date of the unpaid premium.

Well, you have two options here; exit the policy during the free - look period or let the policy lapse by not paying the annual premium payment.

The policy lapses in case the insured fails to clear all the dues during this period.

However, this lifeline comes with a rider that you can not make a claim if something were to happen to you during this interim period when your policy is in lapsed state, which means you will have to clear all medical bills and hospitalization expenses out of your own pocket.

If you again fail to pay your due premium during this period your policy will be lapsed.

Remember, it is better to return your policy and get the refund during the free look period, than to wait for the complete year to lapse the policy by not continuing to pay the premium.

If, however, a lapsed policy is not revived during the revival period, the policy is terminated without payment of any benefits.

Revival: In the event of premium not being paid even during the grace period, the policy would lapse.

If the policy has lapsed due to unpaid premiums, it can be revived paying these premiums along with interest and providing evidence of good health during this period.

During the first 31 days of the life insurance lapse, you can have the policy reinstated without any underwriting.

If the insured person fails to pay the premium during the grace period, the policy lapses.

At times, particularly during premium collection drives or campaigns to revive lapsed policies, insurers may waive such charges or reduce them considerably for the policyholders.

For example, when changing policies, it is often important to complete the process in a particular manner so that a lapse in insurance is avoided, which would only leave you vulnerable to the possibility of a disaster in Westown happening during that lapse period.

During this period, no residuary payments on policies which have lapsed, been surrendered or discontinued will be made.

If a Life Policy was issued in February 2008, lapses 3 years later for nonpayment of premium and is reinstated in June 2011, resulting in new renewal dates and a new two year contestability period, will the policy pay benefits for «suicide» during this period since the original policy is over 2 yearPolicy was issued in February 2008, lapses 3 years later for nonpayment of premium and is reinstated in June 2011, resulting in new renewal dates and a new two year contestability period, will the policy pay benefits for «suicide» during this period since the original policy is over 2 yearpolicy pay benefits for «suicide» during this period since the original policy is over 2 yearpolicy is over 2 years old?

If the Policy has lapsed, it may be revived during the life time of the Life Assured, but before the date of expiry of policy term, on submission of proof of continued insurability to the satisfaction of the Corporation and the payment of all the arrears of premium together with interest at such rate as may be prevailing at the time of the paPolicy has lapsed, it may be revived during the life time of the Life Assured, but before the date of expiry of policy term, on submission of proof of continued insurability to the satisfaction of the Corporation and the payment of all the arrears of premium together with interest at such rate as may be prevailing at the time of the papolicy term, on submission of proof of continued insurability to the satisfaction of the Corporation and the payment of all the arrears of premium together with interest at such rate as may be prevailing at the time of the payment.

If your policy lapses anytime during the term, it can be reinstated within two years from the date of first unpaid premium.

During that 31 day period most companies will send at least two more premium due (or past due) notices and will also let your agent know that your policy is in danger of lapsing.