Sentences with phrase «premium payments under the policy»

Future Premiums payments under the Policy will close down.

Not exact matches

In 2013, FHA revised its mortgage insurance premium policy so that all new FHA mortgages with down payments under 10 % have to pay mortgage insurance premiums for the whole loan term.

The premium payment on Life insurance policy can be claimed as a tax deduction under section 80c.

On the other hand, if you find yourself under a financial strain, you can reduce your premiums, or you may even be able to deduct premium payments from the cash value of the policy.

You may be allowed a deduction of payments for (i) a prepaid funeral insurance policy that covers you or (ii) medical or dental insurance premiums for any person for whom you may claim a deduction for such premiums under federal income tax laws.

The amount of money paid or due to be paid when a person insured under a life insurance policy dies, after adjustments for any outstanding policy loans, dividends, paid - up additions or late premium payments (if applicable) are made.

When an insured defaults on his / her obligation to remit payment of a premium, and the policy lapses as a result, the policy may acquire a paid up value such that the face amount of coverage under the policy is reduced in proportion with the number and amount of premiums paid until the date of default.

Care Benefit: Under Option 2, Wealth + Care Option - on occurrence of any one of the 5 listed Critical Illnesses, all future premiums that would otherwise have been payable shall be waived for the remainder of the premium payment term and the company will continue to allocate units to your policy as if the premiums are being paid.

When it comes to premium payments, there is another convenient option sometimes offered under Variable Life contracts - a policy with a fixed premium, which justifies the feature of flexibility attributed to Variable Life Insurance.

Exchanges may, and the Federally - facilitated Exchange will, allow issuers to implement, a premium payment threshold policy under which issuers can consider enrollees to have paid all amounts due if the enrollees pay an amount sufficient to maintain a percentage of total premium paid out of the total premium owed equal to or greater than a level prescribed by the issuer, provided that the level is reasonable and that the level and the policy are applied in a uniform manner to all enrollees.

It is better to be under - insured without defaulting on your premium payment than sign on a policy that seeks a high premium payment, which turns into a financial strain later.

Under a guaranteed renewable insurance policy the insurer is required to offer the policy holder renewed coverage as long as they make payments of their premiums, but no specific warranty is given in regard to the level of premium that customer may be charged.

«If we decide to make a write - off payment or replace your car under your policy, we will require you to first pay us the total unpaid balance of your premium as we have agreed to cover your car under the terms of the policy for the full period of cover.

Policy Termination or Surrender Benefit: the policy can not be surrendered under regular premium payment oPolicy Termination or Surrender Benefit: the policy can not be surrendered under regular premium payment opolicy can not be surrendered under regular premium payment option.

Under Limited payment mode, the policyholder can surrender the policy after paying all the premiums of 2/3 years.

1) War Risk Coverage In consideration of the payment of premium calculated in the manner stated in the policy to which the rider is attached, it is hereby agreed that for additional premium the policy is amended as follows: Any Exclusion under this Plan for «declared or undeclared war or any act thereof» is waived for an Insured Person's loss caused in whole or in part by, or resulting in whole or in part from, declared or undeclared war or any act of declared or undeclared war, subject to the following restriction: The waiver only applies with respect to accidents that occur within the geographic limits or territorial waters of, or airspace above the geographic limits or territorial waters of a Designated War Risk Territory (as defined herein).

On payment of extra premium this policy can be extended to cover medical expenses incurred for the treatment of injury provided the claim otherwise is permissible under the policy.

Under the first, the optional system, insurers extend their standard policy to include supplemental coverage for flood damage on payment of additional premium.

Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy.

The New York Life Elite Variable Annuity differs from many other variable annuity policies in that the Mortality and Expense Risk and Administrative Costs Charge is calculated as a percentage of the Adjusted Premium Payments under the policy (excluding premiums allocated to the Fixed Account), rather than as a percentage of Separate Account assets.

In consideration of the payment of premium calculated in the manner stated in the policy to which the rider is attached, it is hereby agreed that for additional premium the policy is amended as follows: Any Exclusion under this Plan for «declared or undeclared war or any act thereof» is waived for an Insured Person's loss caused in whole or in part by, or resulting in whole or in part from, declared or undeclared war or any act of declared or undeclared war, subject to the following restriction: The waiver only applies with respect to accidents that occur within the geographic limits or territorial waters of, or airspace above the geographic limits or territorial waters of a Designated War Risk Territory (as defined herein).

Under these circumstances, the insurer may offer a guarantee of death benefit coverage regardless of the cash value in the policy provided that you pay a set minimum premium payment.

For its joint whole life policy, the coverage is up to $ 20,000 of protection for ages 18 — 85, with coverage provided for two persons under one policy and one low premium payment providing permanent coverage for the insured and a spouse on a first to die basis.

Where plan option is «Savings Plus», if the Life Assured is diagnosed to be suffering from any of the 35 Critical Illnesses, all future premiums that would otherwise have been payable under the base policy shall be waived for the remainder of the premium payment term

If already logged into myPage, a link to online premium payment can be found under Payment information on the Polipayment can be found under Payment information on the PoliPayment information on the Policy tab.

In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.

Under a variable universal life contract, policyholders have numerous investment subaccounts available to them like they do with variable life policies but also have the flexibility in premium payments and frequency offered by universal life policies.

I took a policy to myself and to my wife under LIC New Endowment Plan on 20/10/2014 with a monthly premium of RS. 13400 & 5354 respectively & maturity period of 15/10/2030, I done only single payment (Monthly Payment) only for this popayment (Monthly Payment) only for this poPayment) only for this policies.

You can pay the premiums as single payment, limited period payment or throughout the policy (monthly, quarterly, semi-annual or annually) under iProtect Smart Term plan where Limited pay = Policy term — 5 policy (monthly, quarterly, semi-annual or annually) under iProtect Smart Term plan where Limited pay = Policy term — 5 Policy term — 5 years.

Meanwhile, during the policy premium payment period, you can claim tax benefit of up to Rs 1.5 lakh under section 80C of the Income Tax Act.

Maximum: Rs. 71,300 for sum assured of Rs. 50,00,000 for a standard life under single premium payment option for 47 years policy term.

Moreover, whole life plans offer coverage along with all the accrued bonuses for participating plans, as declared under the policy from time to time on maturity or completion of premium payment term.

This may be either (1) reduced paid - up insurance provided under the nonforfeiture provision; (2) a limited payment policy under which all premiums have been paid; or (3) a policy on which accumulated dividend are applied to pay the net single premium required to pay up the difference between the policy's reduced paid - up insurance and its face amount.

On the other hand, if you find yourself under a financial strain, you can reduce your premiums, or you may even be able to deduct premium payments from the cash value of the policy.

The payment of dividends to policy holders offers significant tax advantages for cash value growth because the dividends are not taxable as income but are viewed under current tax laws as overpaid premiums being refunded to policy holders.

Given the fact that the policy is projected to lapse, and that there is no net growth under the policy as the insurance charges and other policy costs (about $ 12,388) far exceed any growth potential (even at 4 % on $ 83,127 of cash value with another premium payment, it's only $ 3,325 of growth), Barbara's inclination was to simply cancel the policy (or technically to suggest to the trustee to allow it to lapse, as technically it's the trustee's decision in the case of an ILIT), avoid the insurance charges, and reinvest the cash value.

This plan is similar to the standard term insurance plan with regards to premium payment, and policy term, except, under the Increasing Term Insurance cover with the increasing age, the life cover also increases.

Minimum: Rs. 8 for sum assured of Rs. 10,000, for a standard life under regular premium payment option, across all policy terms.

Term insurance policies offer tax benefits on the premiums paid under section 80 C of the Income Tax Act, 1961 and tax - free payment to your nominee in case of death under Section 10 (10D) of the Income Tax Act.

Grace Period: A grace period of 15 days is allowed for policies under monthly payment mode and a grace period of 30 days is allowed for policies under all the other payment modes from the premium due date to pay the premium.

After the Premium payment term, if the whole premiums have been paid by the insured under Option B or Option C a special Surrender Value is payable on surrender of the policy.

If the policyholder makes the premium payments for a minimum of 3 years and subsequently does not pay premiums thereafter, then the benefits under the policy shall be reduced proportionate which is called Reduced Paid - up Value.

If premiums for a minimum of three years have been paid and subsequent payments have not been made, then benefits under the policy are reduced proportionately.

The Grace Period for policies paid under monthly premium payment mode is 15 days.

If premiums for a minimum of three years have been paid and subsequent payments have not been made, then the policy acquires «Paid — Up» Value and the Sum Assured under the policy is reduced.

Under TROP or Term with Return of Payments, by the end of the policy term if nothing has happened to the customer, he or she can take 110 % all their premiums back.

Premiums under the plan can be either paid for the entire duration of the plan under the Regular Pay option of premium payment or in one lump sum at the inception of the policy under the Single Pay option of premium payment.

Guaranteed Additions of up to 125 % of one annual premium after 10th year of policy for a policy term of 30 years under regular premium payment policy.

Policy term options of 20 years and 25 years and premium payment term options of 10 years and 15 years are offered under the plan

If premiums for a minimum of two years have been paid and subsequent payments have not been made, then benefits under the policy are reduced proportionately.