Sentences with phrase «at death of the policyholder»

Term life insurance awards a fixed amount of money at the death of the policyholder, and universal life insurance policies offer this as an option.

Life insurance, meanwhile, generates an estate, diminishes the financial uncertainty of passing away too soon, grants the beneficiary a specified amount at death of the policyholder in exchange for a premium which is determined by sex, age, type of insurance, amount of death benefit and health.

Not exact matches

A Single Premium policy is the one in which the premium amount is paid in lump sum at the beginning of the policy as a return for the death benefit which is guaranteed to be paid up until the death of the policyholder.

Rather, they are only paid when the policy pays out at the time of the policyholder's death.

It made sense that policyholders would want to keep term insurance instead of expensive whole life insurance, especially here in Palo Alto or the Bay Area, where housing prices and incomes were rising very quickly and folks realized that they needed larger and larger amounts of term insurance to replace the income of the main breadwinner or to pay off a large mortgage at death.

An accelerated death benefit rider of up to $ 250,000 is included at no extra charge and policyholders are given the option to select a specific death benefit protection period for added flexibility.

In case, the policyholder purchases a policy without mentioning this fact, he may be granted the cover based on his declaration, however, in case of an early death, the insurance company is within its rights to repudiate the claim as he has not disclosed material facts at the time of entering the contract.

If your income increases, you may need to review the face value (the amount paid to beneficiaries at the policyholder's death) of your life insurance policy.

That means more premiums paid and, for the 20 percent of joint policies that are made up of term life insurance, a higher chance that the death benefit won't be paid out at all (because the policies will expire before the policyholders do).

The maturity proceeds are paid at the end of the term or after the unfortunate event of the policyholder's death.

If the life insured dies during the term of this LIC online term plan chosen by him at the starting of the plan, the death benefit is paid which is equal to the Sum Assured chosen by the policyholder at the time of inception of the policy

Older adults might not have their needs fully covered with health insurance, and while some life insurance policies come with riders that let policyholders access the death benefit early in cases of terminal illness, it won't be available to them to cover long - term care services like nursing homes or at - home care.

Answer: This policy gives us the option to receive a return of purchase price at the time of the death of the policyholder.

All the bonus amounts acknowledged at the end of the premium payment term will be paid out at the end of the policy term or on the policyholder's death during the policy tenure.

There are two preferences of payment of death benefit under this HDFC child plan which are Save Benefit and Save - n - Gain Benefit and the death benefit will be paid as per the Benefit Payment Preference chosen by the policyholder at the time of buying the plan

The policyholder can nominate a person (the beneficiary) to receive the Death Benefit in the event of the demise of the life insured or make a change in nomination at any time during the tenure of the plan, provided the plan is in force, by submitting a written request to the insurance company.

Also available at no charge is an accelerated death benefit which allows the policyholder to receive a portion of the death benefit if they are diagnosed as terminally ill.

At the end of 2016, Assurity Life Insurance Company had taken in more than $ 195.5 million in net premiums and deposits, and during that same year, the company had paid out nearly $ 63 million in policyholder payments, and more than $ 113 million in death benefits.

The policyholders have to give the name of the beneficiary who would receive the money after death at the time when they are purchasing the plans.

At the core of combined coverage plans is the life insurance policy, with a designated face amount that will provide the policyholder's beneficiary with an income tax free death benefit.

In life insurance, insurers are looking at hiring counsellors to help policyholders at the time of a death claim

What this means is that policyholders will only receive a percentage of the death benefit for the first three years the policy is owned — until the policy reaches full or level benefits at year three.

In this case, the policyholder may elect to have the dividends purchase additional death benefits, which will increase the death benefit at the time of death.

Universal life is another, more flexible type of permanent policy, allowing the policyholder to increase or decrease the death benefit at any time, and decide how much or little to pay in premiums, within limits set by the company.

Graded policies provide limited coverage for the first few years, with each subsequent year providing increased coverage until the policy reaches maturity, at which point it will pay out 100 percent of death benefits upon the policyholder's death.

Fixed Death Benefit — Standard term policies also have a fixed death benefit, the amount of which is determined by the policyholder at issuance and affects the premium payments that will be Death Benefit — Standard term policies also have a fixed death benefit, the amount of which is determined by the policyholder at issuance and affects the premium payments that will be death benefit, the amount of which is determined by the policyholder at issuance and affects the premium payments that will be made.

Guaranteed Death Benefit + Accrued Paid - up Additions (if any) + Terminal Bonus (if any) Here, the Guaranteed Death Benefit is computed as the highest of 11 times the Annualised Premium or 105 % of all premiums paid by the Policyholder as on the date of death of the Life Insured or Guaranteed Maturity Sum Assured chosen by the Policyholder at the time of taking the poDeath Benefit + Accrued Paid - up Additions (if any) + Terminal Bonus (if any) Here, the Guaranteed Death Benefit is computed as the highest of 11 times the Annualised Premium or 105 % of all premiums paid by the Policyholder as on the date of death of the Life Insured or Guaranteed Maturity Sum Assured chosen by the Policyholder at the time of taking the poDeath Benefit is computed as the highest of 11 times the Annualised Premium or 105 % of all premiums paid by the Policyholder as on the date of death of the Life Insured or Guaranteed Maturity Sum Assured chosen by the Policyholder at the time of taking the podeath of the Life Insured or Guaranteed Maturity Sum Assured chosen by the Policyholder at the time of taking the policy.

Total premiums paid compounded monthly at 1 % p.a. interest plus accrued guaranteed additions plus accrued bonuses till the death of death, OR 105 % of all premiums paid till the date of death Upon death of the policyholder, the nominee shall have the option to

In a case of the unfortunate event of the death of the policyholder, the nominee is supposed to file a claim to receive the amount as decided at the time of buying the term policy.

Income Plus Option: The nominee shall receive 100 % of sum assured at the time of death of the policyholder and 0.5 % of sum assured in arrears will be paid as monthly income over the next 10 years.

Policy continues even after the death of policyholder till the maturity and nominee get the maturity value of the policy at the end of the policy.

The number would rely on the term set up, with the number increasing, decreasing or remaining constant no matter at what juncture of the policy tenure the policyholder's death happens.

The policyholder enjoys the Guaranteed Death Benefit which is payable to the person nominated at the time of the death of the policyhoDeath Benefit which is payable to the person nominated at the time of the death of the policyhodeath of the policyholder.

A child plan is designed to provide financial assistance to parents in fulfilling educational goals at different stages, even in case of the policyholder's death.

It has been found out that in this plan company will be settling the death claim and simultaneously providing the sum assured within a time period of 12 days, post the receipt of all relevant death claim documents from the nominee or claimant, provided entire premium is paid by the policyholder for at least three policy years and the necessary claim application documents are deposited.

In case of death / first diagnosis of cancer, it is payable to the nominee / policyholder at each premium due date for the remaining period of the premium payment term.

A cash value policy payable to the policyholder on the maturity date, if living, or to a beneficiary at the time of the insured's death.

If the policyholder dies at the age of 50 years or above, the nominee will receive the Sum Assured including Top - up sum assured net of partial withdrawals or Minimum Death Benefit or Fund Value including Top - up Fund Value (Whichever is higher).

Death Benefit: In case of sudden demise of the policyholder during the tenure of the policy, the Sum Assured at the time of Death along with the acquired Bonuses are paid to the person nominated by the policyholder.

Endowment plans pay out the sum assured in case of death as well as survival of the policyholder at the end of the policy term.

Increasing Monthly Incomes @ 0.4 % of the Sum Assured in the first year which increases by 10 % p.a. at a simple rate on the first year's monthly income is paid for 10 years post the policyholder's death

If the policyholder dies during the policy term, the nominee shall be paid death benefit that will be higher of sum assured or the fund value at that time.

On the event of death of the policyholder during the policy term, the beneficiary will receive the amount chosen at the time of choosing the policy.

Since Amulya Jeevan II is a pure insurance plan, the plan only offers death cover or death benefits which means that if the policyholder meets with death at any time during which the policy is in force then LIC will give to the nominee (s) of the policy holder's Amulya Jeevan II policy the sum assured on death amount.

In the unfortunate event of death of the policyholder or parent invested in a child plan, future premiums are waived off while the child receives a lump sum beneficiary amount as life cover along with maturity cover benefits at the end of policy tenure.

At policy maturity or on death of the insured, the fund value of this amount is returned to the policyholder / beneficiary.

On death of the policyholder, the insurer invests the present value of all the remaining premiums at one go on behalf of the deceased policyholder, so that the maturity benefits accrue as planned.

This plan provides annual survival benefits at the end of the completion of premium payment up to 100 years of age and a maturity lump sum amount at maturity of term or death of the policyholder during the term.

LIC Jeevan Lakshya plan provides death benefits and a lump sum at maturity period, regardless of the survival of the Policyholder.

As explained above, first the company pays at the time of death of the policy holder and because of its Waiver of Premium (WOP) feature it continues to invest in the fund on the behalf of the policyholder.