Sentences with phrase «applicable in each policy year»

Not exact matches

The Annualised Base premium is the sum of premiums payable in a policy year and excludes modal factors and underwriting extra (if applicable).

If you intend to deposit rewards in an eligible account, it is your responsibility to ensure that the account is one for which contributions on your behalf can be accepted and that, under applicable tax law or program policy, you are eligible to make contributions to that account for the year that the deposit is made.

S 295 - 465 (1B) inserted by No 43 of 2011, s 3 and Sch 3 item 2, applicable to insurance policy premiums paid in the 2011 - 12 income year and later income years.

S 295 - 465 (1A) inserted by No 43 of 2011, s 3 and Sch 3 item 2, applicable to insurance policy premiums paid in the 2011 - 12 income year and later income years.

Surrender Charge Typically applicable to adjustable life, indexed universal life, and variable universal policies, a generally declining schedule of charges against the cash value may be imposed on the policy for a certain number of years from policy inception if the policy is surrendered, the death benefit is reduced, or in some instances, the surrender charge is taken into account in the monthly calculation to determine if the policy is still in force.»

An insurer's insolvency protection shall be applicable only to accidents occurring during a policy period in which its insured's uninsured motorist coverage is in effect where the liability insurer of the tort - feasor becomes insolvent within three years after such an accident.

This feature is applicable only in policy terms of 15, 20 and 25 years.

«Because estate taxes are only applicable to a small percentage of (very wealthy) people that die each year, those policies are very large,» says Elaine Tumicki, corporate vice president of product research for LIMRA, an insurance and financial services trade group based in Windsor, Conn..

* Note: In the event of the death of the insured by suicide within the first year of the policy or with 1 year of the date of renewal the death benefits are not applicable.

Non-negative claw - back additions: After the first five policy years, in the process to comply with the reduction in yield, the Company may give out specific non-negative claw - back additions, if any, which are added to the unit Fund Value, as applicable, at various durations of time.

If policy is surrendered before the completion of lock - in period of 5 policy years from the policy commencement date, the Surrender Value equal to Fund Value less applicable Discontinuance Charge will be kept in the Discontinued Policy Fund and no subsequent charges other than Fund Management Charges for discontinued policy fund will be dedpolicy is surrendered before the completion of lock - in period of 5 policy years from the policy commencement date, the Surrender Value equal to Fund Value less applicable Discontinuance Charge will be kept in the Discontinued Policy Fund and no subsequent charges other than Fund Management Charges for discontinued policy fund will be dedpolicy years from the policy commencement date, the Surrender Value equal to Fund Value less applicable Discontinuance Charge will be kept in the Discontinued Policy Fund and no subsequent charges other than Fund Management Charges for discontinued policy fund will be dedpolicy commencement date, the Surrender Value equal to Fund Value less applicable Discontinuance Charge will be kept in the Discontinued Policy Fund and no subsequent charges other than Fund Management Charges for discontinued policy fund will be dedPolicy Fund and no subsequent charges other than Fund Management Charges for discontinued policy fund will be dedpolicy fund will be deducted.

A waiting period of 15 days from the date of inception of policy is applicable in the first policy year.

If the policy is surrendered before the completion of the lock - in period of 5 policy years from the policy commencement date, the Surrender Value equal to Fund Value less applicable Discontinuance Charge will be kept in the Discontinued Policy Fund of the copolicy is surrendered before the completion of the lock - in period of 5 policy years from the policy commencement date, the Surrender Value equal to Fund Value less applicable Discontinuance Charge will be kept in the Discontinued Policy Fund of the copolicy years from the policy commencement date, the Surrender Value equal to Fund Value less applicable Discontinuance Charge will be kept in the Discontinued Policy Fund of the copolicy commencement date, the Surrender Value equal to Fund Value less applicable Discontinuance Charge will be kept in the Discontinued Policy Fund of the coPolicy Fund of the company.

Dear CHANDRAMOHAN, Generally «suicide clause» is applicable for first 2 policy years in most of the plans.

The provision will not be applicable in cases where the proceeds from a life policy in a year are less than Rs. 1 lakh.

Guaranteed Loyalty Additions: Every year correspond to the policy year like 1 % in 1st year, 2 % in 2nd year, 3 % in 3rd year and so on Guaranteed Loyalty Additions shall be applicable.

In case of a Unit Linked Life Insurance Policy, if the policyholder chooses to withdraw the policy completely, before the completion of 5 years, then the Fund Value after deducting the applicable surrender charges are transferred to the Discontinued PolicyPolicy, if the policyholder chooses to withdraw the policy completely, before the completion of 5 years, then the Fund Value after deducting the applicable surrender charges are transferred to the Discontinued Policypolicy completely, before the completion of 5 years, then the Fund Value after deducting the applicable surrender charges are transferred to the Discontinued PolicyPolicy Fund.

It depends on the policy year when the policy is discontinued / surrendered and is applicable only in the first four policy years.

In case you have not claimed any insurance and want to renew your insurance plan for 3 year, then an additional 20 % discount will be applicable and 15 % additional discount for renewing policy for 2 years.

Surrender / Discontinuance Charge: The applicable surrender charges depending upon the year of surrender and are applicable if the policy is discontinued in first 4 policy years.

Upon surrendering the policy with - in the lock - in period of 5 years, the Fund Value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of the lock - in ppolicy with - in the lock - in period of 5 years, the Fund Value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of the lock - in pPolicy Fund» and it is refunded upon completion of the lock - in period.

Upon surrendering the policy with - in the lock - in period of 5 years, the fund value (including top - up fund value) less applicable discontinuance charges is credited to the «Discontinued Policies Fund» and it is refunded upon completion of the lock - in period.

Switching Charge: You can avail first fifteen free switches (including 12 automatic fund switches) in a policy year and upon exercising more switches, Rs 500 is applicable on each additional switch.

Upon surrendering the policy with - in the lock - in period of 5 years (Regular & Limited Pay Option), the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of lock - in ppolicy with - in the lock - in period of 5 years (Regular & Limited Pay Option), the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of lock - in pPolicy Fund» and it is refunded upon completion of lock - in period.

Switching Charge: You can avail 12 free switches in a policy year and upon exercising more switches, Rs 250 is applicable on each additional switch.

Upon surrendering the policy with - in the lock - in period of 5 years, the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund II&rpolicy with - in the lock - in period of 5 years, the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund II&rPolicy Fund II».

Upon surrendering the policy with - in the lock - in period of 5 years, the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of lock - in ppolicy with - in the lock - in period of 5 years, the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of lock - in pPolicy Fund» and it is refunded upon completion of lock - in period.

It is applicable only in the year of maturity or death (if demise happens after 5 policy years).

(d) Upon completion of one of the driving courses specified in paragraph (3) of subsection (b) or paragraph (3) of subsection (c), as applicable, of this Code section by each named driver, eligibility for reductions in premiums for such policy shall continue for a period of three years, provided any named driver under such policy does not commit a traffic offense or have a claim against the policy based on any such driver's fault.

Even though FAB is announced every year, it is applicable to your policy only in the year of maturity / demise.

a. Call customer care b. Visit your nearest insurance company office c. Talk to your insurance agent / seller In either case, you will be asked details like your policy number, when you took the policy, premium amount etc. also, cash surrender value is applicable only if you have paid your premiums regularly atleast for a few months / years (depending on type of policy)

The Annualised Base premium is the sum of premiums payable in a policy year and excludes modal factors and underwriting extra (if applicable).

Upon surrendering the policy with - in the lock - in period of 5 years and on complete withdrawal from the policy, the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of lock - in ppolicy with - in the lock - in period of 5 years and on complete withdrawal from the policy, the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of lock - in ppolicy, the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of lock - in pPolicy Fund» and it is refunded upon completion of lock - in period.

Non-Negative Claw - Back Additions is applicable after the completion of 5 policy years, in order to comply with the reduction in yield.

Upon surrendering the policy with - in the lock - in period of 5 years, the Fund Value (including top - up fund value) less applicable discontinuance charges is credited to the «Discontinued Fund» and it is refunded upon completion of the lock - in period.

No Claim Bonus (NCB) as 20 %, 25 %, 35 %, 45 % & 50 % is applicable, in case of a claim - free policy year.

Also, there is a lock - in period of 3 to 5 years applicable in some of the plans, during which an insured can not opt - out from the policy.

In case of surrendering the policy within the first 5 policy years, company credits the fund value into the Discontinued Policy Fund after deducting Surrender / Discontinuance, as applipolicy within the first 5 policy years, company credits the fund value into the Discontinued Policy Fund after deducting Surrender / Discontinuance, as applipolicy years, company credits the fund value into the Discontinued Policy Fund after deducting Surrender / Discontinuance, as appliPolicy Fund after deducting Surrender / Discontinuance, as applicable.

Upon surrendering the policy after the lock - in period of 5 years, Fund Value under the base policy (including Top - ups) less applicable Discontinuance Charges will be paid to the policyholder.

Upon surrendering the policy with - in the lock - in period of 5 years, the Fund Value (including top - up fund value) less applicable discontinuance charges is credited to the «Discontinued Pension Policy Fund» and it is refunded upon completion of the lock - in period.Upon surrendering the policy after the lock - in period of 5 years, Your fund value will be paipolicy with - in the lock - in period of 5 years, the Fund Value (including top - up fund value) less applicable discontinuance charges is credited to the «Discontinued Pension Policy Fund» and it is refunded upon completion of the lock - in period.Upon surrendering the policy after the lock - in period of 5 years, Your fund value will be paiPolicy Fund» and it is refunded upon completion of the lock - in period.Upon surrendering the policy after the lock - in period of 5 years, Your fund value will be paipolicy after the lock - in period of 5 years, Your fund value will be paid out.

Upon surrendering the policy with - in the lock - in period of 5 years, the Fund Value (including top - up fund value) less applicable discontinuance charges is credited to the «Pension Discontinued Policy Fund&rpolicy with - in the lock - in period of 5 years, the Fund Value (including top - up fund value) less applicable discontinuance charges is credited to the «Pension Discontinued Policy Fund&rPolicy Fund».

The guaranteed annual payouts are also payable in the last 5 years (20 % in each of the last 5 years) and it is applicable when the policy term is 15 to 25 years.

He will also receive Survival benefit (as applicable) that starts from the end of the 5th Policy year and thereafter, it is payable in every 5th year till 20th policyPolicy year and thereafter, it is payable in every 5th year till 20th policypolicy year.

Scenario II: On Demise of Rohit during the premium paying term In case of demise of Rohit during the 4th policy year, the nominee will receive Death Sum Assured, Additional Annual Payouts and Scheduled Annual Payouts, as applicable.

No Claim Bonus (NCB) up to 50 % is applicable, in case of a claim - free policy year.

Upon surrendering the policy with - in the lock - in period of 5 years, the Fund Value (including top - up fund value) less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of the lock - in ppolicy with - in the lock - in period of 5 years, the Fund Value (including top - up fund value) less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of the lock - in pPolicy Fund» and it is refunded upon completion of the lock - in period.

No Claim Bonus (NCB) of 20 %, 25 %, 35 %, 45 % & 50 % is applicable, in case of a claim - free policy year.

After completion of 5 policy years, non-negative residual additions, are credited to the policy to meet the maximum reduction in yield as applicable in Regulation 37 of IRDA (Linked Insurance Products) Regulations, 2013.

Upon surrendering the policy with - in the lock - in period of 5 years, the unit fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of the lock - in ppolicy with - in the lock - in period of 5 years, the unit fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of the lock - in pPolicy Fund» and it is refunded upon completion of the lock - in period.

Upon surrendering the policy with - in the lock - in period of 5 years, For Single Pay policies, the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of the lock - in ppolicy with - in the lock - in period of 5 years, For Single Pay policies, the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of the lock - in pPolicy Fund» and it is refunded upon completion of the lock - in period.