Sentences with phrase «annual mode of payments»

As much as possible, go for annual mode of payments.

Discounts are given in premium for choosing annual mode of payment and for higher levels of Sum Assured.

But, do note that an annual mode of payment will be less expensive than either of these three.

Not exact matches

Additionally, the policy owner has the right to change the mode of premium payment, i.e. annual, semi-annual, quarterly or monthly bank draft as well as the payout method, i.s. lump sum, lifetime annuity or period certain annuity.

Generally the single premium amount is lower than the total of the annual premiums, which in turn is lower than the total of the premiums paid through the other modes of payment.

Rebates are allowed in the premium rates for higher levels of Sum Assured options and also for choosing annual and semi-annual mode of premium payment.

Discount is allowed in premium for choosing annual or semi-annual mode of premium payment @ 3 % and 1.5 % respectively.

The frequency or mode of payment can be annual, half - yearly, quarterly, or monthly.

LIC does not offer any variant of the e-Term plan, there are no riders offered and the premium payment mode available is annual.

The monthly premium is expressed as 8.9 % of the annual premium and if the policyholder chooses the monthly mode of premium payment, 3 months» premiums have to be paid in advance.

With the Future Generali Easy Invest Online Plan, you can switch anytime from a monthly to an annual payment mode, and vice versa, at a minimal cost of Rs. 250 per change.

Grace Period: If the insured fails to pay his insurance premium by the due date, then a grace period of 15 days is allowed for monthly premium payment mode and a grace period of 30 days is allowed for annual mode of premium payment.

Grace period is essentially an extension of your regular premium payment mode (monthly, quarterly, biannual or annual).

To ensure consistent coverage it is better to switch to a more manageable mode of payment (monthly or quarterly) in case the policy holder is unable to pay annual premium due to financial constraints.

The mode of payment of premium is annual only and through online mode.

Grace Period: If the insured fails to pay his premium within the premium due date then he is allowed a grace period of 15 days for monthly premium payment mode and 30 days grace period in case of annual premium payment mode, failure to which the policy shall lapse.

The annual premium excludes any loading included by the company due to the mode of premium payment or any service tax charged on the premium.

This plan also offers premium rebate for choosing sum assured of Rs 2 Lacs & above and on opting annual / semi annual premium payment mode.

He chooses to buy MetLife Mera Wealth Plan - premier mode with the policy term of 20 years, premium payment term of 10 years, annual premium of Rs 5 Lacs.

You can get the premium rebate on choosing annual / semi annual payment mode or opting for sum assured of Rs 2 Lacs & above.

His premium comes out to be Rs. 50,000 (without taxes, levies and loading extra) with the annual mode of premium payment.

(@ 4 %): Rajiv gives = Rs. 6.34 Lacs; Rita gets = Rs. 28.4 Lacs -LCB- Rs. 10.8 Lacs (Guaranteed Money - back) + Rs. 9.6 Lacs (Guaranteed Maturity Sum Assured) + Rs. 8 Lacs (Non Guaranteed Bonuses)-RCB-(@ 8 %): Rajiv gives = Rs. 6.34 Lacs; Rita gets = Rs. 80.3 Lacs -LCB- Rs. 10.8 Lacs (Guaranteed Money - back) + Rs. 9.6 Lacs (Guaranteed Maturity Sum Assured) + Rs. 59.9 Lacs (Non Guaranteed Bonuses)-RCB-(Note: The non-guaranteed assumed rates of return chosen in the above example are 4 % and 8 % and the mode of premium payment is Annual).

(@ 4 %) Rajiv gives = Rs. 12.7 Lacs; Rajiv gets = Rs. 28.4 Lacs -LCB- Rs. 10.8 Lacs (Guaranteed Money - back) + Rs. 9.6 Lacs (Guaranteed Maturity Sum Assured) + Rs. 8 Lacs (Non Guaranteed Bonuses)-RCB-(@ 8 %) Rajiv gives = Rs. 12.7 Lacs; Rajiv gets = Rs. 80.3 Lacs -LCB- Rs. 10.8 Lacs (Guaranteed Money - back) + Rs. 9.6 Lacs (Guaranteed Maturity Sum Assured) + Rs. 59.9 Lacs (Non Guaranteed Bonuses)-RCB- * The non-guaranteed assumed rates of return chosen in the above example are 4 % and 8 % and the mode of premium payment is Annual.

The amount of premium is less if you choose an annual mode of premium payment.

From the insurer's perspective, annual payments are significantly superior because renewal of annual payment policies is 25 - 50 % better than other modes.

For policies on annual payment mode, insurers generally allow a grace period of 30 days beyond the due date.