Sentences with phrase «after the death of the insured»

This payment is over and above lump sum payment on diagnosis of the illness and is paid to the nominee even after the death of insured person.

After this term if death occurs, then the balance 50 % sum assured is paid to the nominee after death of the insured.

A life insurance beneficiary is the person or entity who receives the payment of a life insurance policy after the death of the insured.

A death claim is a request to grant the life insurance benefits due under the policy to the designated beneficiaries after the death of the insured.

For example, the beneficiary of a life insurance policy is the person who receives the payment of the amount of insurance after the death of the insured.

Provides payment to a beneficiary that can be the basis of financial stability and security after the death of the insured.

This helps the family to survive better after the death of insured.

However — the gift tax is not paid until after the death of the insured.

In this policy, instead of paying one lump sum directly after the death of the insured, the policy provides a stream of monthly income to the beneficiaries.

[x] The amount received by the beneficiary, from an annuity or insurance policy, after the death of the insured individual.

The payout at the time of maturity is made, because the policy continues after the death of the insured person.

The lump sum amount (death benefit) that the family / nominee receives after the death of the insured allows the family to continue living a similar lifestyle.

These plans pay the death benefit partly in lump sum and partly in monthly or annual incomes or completely in monthly or annual incomes for a specified tenure after the death of the insured.

The purpose of life insurance is to provide financial protection to surviving dependents after the death of an insured.

Life insurance provides financial support for families and loved ones after the death of the insured person.

You should be able to get hold of the right burial insurance for elderly that would help in getting all the expenses after the death of the insured person.

Much like a normal policy, the death benefit will reach the beneficiary after the death of the insured.

o Decreasing Term Assurance (Family Income Protection): Under this option, the sum assured opted by the insured is divided by the total term (in months) and the balance amount will be paid to the family for remaining policy months after the death of the insured as monthly income.

As perhaps one of the most popular types of permanent life insurance, whole life, also known as ordinary life insurance, is a policy that provides lifelong coverage and will only come to an end after the death of the insured.

Level benefit means once the policy has been issued, the insured's beneficiaries are eligible for the full face value immediately after death of the insured occurs with no reduction in the face amount otherwise known as the death benefit.

Level benefit means once the policy has been issued, the insured's beneficiaries are eligible for the full face value immediately after death of the insured occurs.

Term Plans are the plans for risk coverage, and the nominee is financially indemnified after the death of the insured during the policy term.

: A person (s) designated by the policy owner to receive the life insurance policy proceeds after the death of the insured.

Whole - Life Plan — insurance company collects premium from the insured till the retirement or the term of the policy and pays the claims to the nominees only after the death of the insured person.

This specifically states a defined period of time that the primary beneficiary must outlive the insured to receive the death benefits and is usually a period of 10 to 30 days after the death of the insured.

The Family Income Benefit pays 1.5 % of the Sum Assured every month after the death of the insured till the end of the policy tenure

This is crucial, because when policyholders intend, but never actually got around to requesting a beneficiary change to take a former spouse off of the policy, that creates legal wiggle room for the former spouse to make a claim on the policy and start an unwanted legal dispute after the death of the insured.

Example 4: Paid to all the children born of the marriage of the Insured and Audie Yose, including children born after the death of the insured in equal shares.

Also, I have never heard of any lawsuit that has ever overturned a beneficiary designation after the death of an insured who was in a healthy frame of mind at the time of designation.

Term plans are investments which ask for scheduled payments for a specific agreed upon time known as premiums and the benefits as per the terms and conditions of the term plan, benefits are provided to the family after the death of the insured.

This is a dual death benefit plan under which a complete sum assured is paid in the first option and in the second option after death of the insured, the insurance company pays 50 % of the total sum assured immediately to the nominee of the insured and the remaining amount is paid monthly as a regular income at 3 %.

Risk coverage is for the entire duration of life and the sum assured is paid after the death of the insured Limited Payment Whole Life Insurance: where premiums are paid for a limited and shorter period of time as chosen by the insured or after his death, whichever happens earlier.

This is a scheme where the assured amount with accrued bonus is payable to the assignee, nominee or the legal heir after death of the insured.

As perhaps one of the most popular types of permanent life insurance, whole life, also known as ordinary life insurance, is a policy that provides lifelong coverage and will only come to an end after the death of the insured.

The plan has a unique feature of Family Income Benefit under which, after the death of the insured during the tenure of the plan, 10 % of the chosen Sum Assured is paid every year till the end of the plan tenure subject to a minimum of 3 payments and a maximum of 10 payments.

Beneficiary: A person (s) designated by the policy owner to receive the life insurance policy proceeds after the death of the insured.

Vikas, Term insurance amount received by nominee after death of insured is tax free as per section 10 (10D) of the income tax act

The policyholder may also avail of the Education Support Benefit under which the death benefit can be availed as money - backs in the last 5 years of the policy after the death of the insured.

After death of the insured, the remaining fund is paid to the nominee.

Furthermore, future premiums are waived off after the death of the insured but the plan continues to run.

Because the life insurance company uses a combination of the policy cash value (while alive) or the policy death benefit (after death of the insured) to provide collateral and «guaranteed» repayment of the loan.

It involves giving a large amount (but not the full sum assured) to the family / nominee after death of the insured and remaining over a period of years, the frequency of which is decided by the policyholder when he / she is alive.

If monthly income option is selected, 1 % of the Sum Assured is paid every month for 130 months after death of the insured.

This can help to ensure that family members won't need to struggle with bills or that a business can continue to survive after the death of the insured.