Sentences with phrase «attained age of the insured»

Paid - Up Additional Insurance Paid - up additional insurance is also referred to the option of the policyholder to use the dividends or the additional premiums to purchase an additional insurance within the same plan having the amount determine through the attained age of the insured.

Every time the policy is renewed, the premium increases to the amount for the attained age of the insured at that time.

Not exact matches

The policy must be in force for 15 years and the insured must have attained the age of 75 to be eligible.

Re-Entry: A policy provision that allows an insured to renew their term life insurance policy at the end of the term based on their attained age and health status.

(b) is not required to pay a non-earner benefit for any period before the insured person attains 16 years of age.

(b) after the insured person attains 25 years of age, in the case of an insured person who was less than 15 years of age at the time of the accident.

Re-Entry: A policy provision that allows an insured to renew their term life insurance policy at the end of the term based on their attained age and health status.

A renewability feature, perhaps the most important feature associated with term policies, guarantees that the insured can renew the policy for a limited number of years (i.e., a term between five and 30 years) based on attained age.

In addition, the premium that is charged for many types of burial insurance coverage will be locked in and guaranteed not to increase — even as the insured ages, and / or regardless of whether they attain a serious health issue in the future.

Expense Charge A monthly charge paid to an insurance company based on various elements of the policy such as insured's attained age, original rate class, etc..

Attained Age The current age of the insured as measured from the age at the time the policy was issuAge The current age of the insured as measured from the age at the time the policy was issuage of the insured as measured from the age at the time the policy was issuage at the time the policy was issued.

Survival benefits under the plan start to accrue once the insured attains 61 years of age @ 7.5 % of the Guaranteed Maturity Sum Assured and continues for 15 years thereafter.

Under this LIC child plan, the money back benefits will start to be paid only from the policy anniversary which coincides or follows the completion of 20 years of age of the life insured and are payable for 5 years till the insured attains the age of 25 years

This allows the insured to convert his or her existing level - term policy to a permanent plan, at their attained age, regardless of their health condition in the future.

Coverage on each child expires at the earlier of child's attained age 23, the Insured's attained age 65 or when the policy terminates.

If the permanent policy is a whole life insurance plan, the premium amount will be guaranteed never to go up — regardless of the insured's increasing age, as well as if the insured attains an adverse health condition in the future.

Convertible prior to the end of the level premium payment period (15, 20 or 30 years) or prior to insured's attained age 70, whichever comes first

A monthly charge paid to an insurance company based on various elements of the policy such as insured's attained age, original rate class, etc..

The yearly maximum deductible amount for each individual depends on the insured's attained age at the close of the taxable year (see Table 1 for current limits).

The majority of policies end the rider at the child attaining age 25 or the insured attaining age 65, whichever comes first.

The premium will depend on the attained age at start of policy year, gender, the amount of insured death benefit, occupation class and health of the member.

Attained age will use the age of the insured at the time of conversion.

This is because of the insured's older age (and possibly due to any adverse health issues that he or she has also attained).

This charge is levied on the attained age of the Life Insured for the Sum at Risk and is unisex.

Most endowment plans will offer insurance coverage and the promise of benefits even after the maturity date, in some cases up to a time when the life insured attains the age of 100

In case of an eventuality (death of the life insured) the nominee will get fixed Rs. 50,000 monthly till the time the life insured would had attained the age of 60 years or for 120 months whichever is higher.

Max Life Partner Care rider can be availed under the plan wherein the aggregate of all future premiums payable till the end of the term or till the insured attains 60 years of age is payable immediately if the insured dies during the tenure of then plan.

If the insured dies due to an accident before attaining age 65 years, an additional Sum Assured is payable which is equal to the Sum Assured on death subject to a maximum of Rs. 2 crores

The nominee will be paid the life insurance benefit, in the case of unforeseen demise of the life insured before you attain an age of 85 years, subject to the policy being in operation and all the due premiums are paid.

Provided that the death benefit is at least 105 % of the total premiums paid till death If the life insured dies before reaching 60 years of age, the Sum Assured would be deducted for any partial withdrawals made during two years prior to death If the life insured dies after attaining 60 years, any partial withdrawals made after crossing 58 years of age would be deducted from the Sum Assured.

Make unlimited partial withdrawals from your fund for supporting emergency situations, at any time after the completion of 5 policy years or when life insured attains the age of 18, whichever is later, subject to a minimum partial withdrawal amount of Rs. 5,000

If the life insured dies after attaining 60 years, any partial withdrawals made after crossing 58 years of age would be deducted from the Sum Assured.

Step 4 — when the insured attains 61 years of age, 7.5 % of the guaranteed maturity Sum Assured is paid every year till plan completion.

Fund your emergency requirements by making unlimited partial withdrawals from your fund at any time after the completion of 5 policy years or when life insured attains the age of 18, whichever is later, subject to a minimum partial withdrawal amount of Rs. 5,000

For all those emergency situations, avail the facility of making unlimited partial withdrawals from your fund, any time after the completion of 5 policy years or when life insured attains the age of 18, whichever is later, subject to a minimum partial withdrawal amount of Rs. 5,000

Make unlimited partial withdrawals from your fund, any time after completion of 5 policy years or when life insured attains the age of 18, whichever is later, subject to a minimum partial withdrawal amount of Rs. 5,000

Under premier mode, for single pay, it is lower of Rs 6000 or 850 increasing @ 3 % p.a and for other pay options, it is lower of Rs 6000 or 2.20 % of premium increasing @ 3 % p.a.. Under online mode, for single pay, it is lower of Rs 6000 or 850 increasing @ 3 % p.a and for other pay options, it is lower of Rs 6000 or 5.50 % of premium increasing @ 3 % p.a. Mortality Charges: Mortality charge is based on the option applicable, attained age of the life insured, rate and applicable Sum at Risk.

Usually, the policy expires on life insured attains 100 years of age.

The charge per Rs 1000 of Sum at Risk will depend on the gender and attained age of the life insured.

Max Life Partner Care Rider which pays the sum of all future premiums payable under the base policy or till life insured attains 60 years age (whichever is earlier), immediately on the death of the life insured and after payment, the rider will terminate.

This rider expires once the insured attains 60 years of age.

2) Another example is if life insured is 7 years of age, his commencement of risk is within 8 years (since they attained 8 years of age)

Date of commencement of risk: If life insured is > 8 years of age, date of commencement is immediately; else it would be after attaining 8 years of age.

In case of survival of the life insured on attaining age 100 years, the maturity benefit is payable as per the opted premium payment term (PPT).

The Mortality Charges will vary on the amount of life insurance cover, the attained age of Life Insured, the occupation of the Life Insured, the health of the Life Assured and the Fund Value.

This benefit will continue even if the Life Insured attains 18 years of age during the tenure of the policy.

Guaranteed Maturity Sum Assured + Accrued Paid - Up Additions (if any) + Terminal Bonus (if any) is payable to the policyholder as Maturity proceeds on the policy anniversary immediately following or coinciding with Life Insured attaining age of 75 years.

Guaranteed Lump Sum Benefit (GLB) is a survival benefit payable only upon the survival of the life insured at the end of the Premium Paying Term and at the end of policy year when Life Insured attains age 75 and is equal to Sum Assured on Mainsured at the end of the Premium Paying Term and at the end of policy year when Life Insured attains age 75 and is equal to Sum Assured on MaInsured attains age 75 and is equal to Sum Assured on Maturity.

It is payable on death or at the end of policy year when Life Insured attains age 75, whichever is earlier.

Till the end of PPT: Sum Assured on Death Plus accrued Reversionary Bonus (RB1) After the end of PPT till end of policy year when Life Insured attains age 75 years: Sum Assured on Death Plus accrued Reversionary Bonus (RB2) After attaining age 75 years: Sum Assured on Death.