Sentences with phrase «away during the plan tenure»
Term Cover: It refers to the tenure of a term insurance plan wherein the sum assured is only paid to the nominees if the policy holder passes away during the plan tenure.
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Child plans offer the benefit of waiver of premium, doing away with the premium obligation if the policyholder parent expires during policy tenure.
The nominee / beneficiary receives the sum assured, if the insured passes away during the tenure of the term plan.
In case the applicant passes away during the tenure of the child plan, certain insurers offer the benefit of premium waiver or self - funding of premium, thereby making it easy to continue the policy without burdening the family member for premium payment.
Certain plans will waive off the entire premium to be paid during the policy tenure if the insured person passes away.