Sentences with phrase «by policyholder within»

This includes cases for which the corporation refuses to pay the claimed amount and such cases includes suicide by policyholder within one year of subscribing policy.

In case of linked plans, if the suicide is committed by the policyholder within 12 months from the start of the policy in the course of the policy term, then the nominee is eligible to receive 100 % of the policy fund value.

The company generally settles almost all genuine claims except those that fall under our exclusions list, and these include suicide by policyholder within one year of availing policy and situations including acts of self - injury, criminal and unlawful acts, undertaking abnormal risks and other such abnormal activities.

In certain non-normal cases, the company does not pay the claimed amount which is the assured sum, and this includes suicide by policyholder within 12 months of purchasing or renewing the policy.

The revival of a lapsed policy is possible if a written request is submitted by the policyholder within a timeframe of two years from the first unpaid premium.

Not exact matches

Profits earned by a mutual insurance company must be either kept within the company or distributed to policyholders as dividend distributions or reductions to future premiums.

If the policyholder dies within the time frame set out by the insurance policy, their beneficiaries will receive the death benefit.

In case of emergency, the first thing to do by the policyholder (or a person on his / her behalf) is to contact the Call Center within a maximum of 24 hours and obtain proper guidance.

Depending on the policyholders needs, the policy death benefit can change over time by increasing or decreasing the premium deposits, within certain guidelines.

A policyholder who is not properly guided by the existing life insurance company has the right to exercise the restoration of the existing policy within seven days from the receipt of the new one.

The premiums paid by with - profits and non-profit policyholders are pooled within the insurance company's life fund (Commonwealth) or general account (USA).

The policy also covers injuries that occur at secondary residences or seasonal homes, within recreational vehicles, on the premises of rental properties, or on a boat or watercraft owned by the policyholder.

A policyholder who is not properly informed by the current life insurance company has the liberty to exercise the restoration of the existing policy within seven days from the receipt of the new one.

Free Look Period: The policyholder can cancel the policy within 15 days if he / she is not satisfied with the coverage provided by the policy.

Under this proposal, plans will continue to be able to use the rebate to reduce the subscribers» portion of premium for the subsequent policy year (including by spreading it over the 12 months of the policy year) as long as the subsequent policy year commences within 3 months of receipt of the rebate by the group policyholder.

If the subsequent policy year commences outside this 3 - month window, the group policyholder of a non-Federal governmental plan must distribute the subscribers» portion of the rebate within 3 months in the form of a cash refund or by applying a mid-policy year premium credit to the subscriber's portion of premium.

Investment return within the policy will be taxed within the life policy and paid by the life assurer depending on the nature of the policyholder (whether natural person, company - owned, untaxed or a retirement fund).

In this proposed rule, we propose to amend the provisions for distribution of rebates in § 158.242 (b) to require group policyholders of non-Federal governmental plans to use the subscribers» portion of the rebate for the subscribers» benefit within 3 months of receipt of the rebate by the group policyholder.

In addition, the amount of premium dollars that go into the death benefit, as well as that go into the cash component, can be altered (within certain limits) by the policyholder.

Generally, as long as the policyholder is expected to die within 12 months of the date of the payment of the living death benefit, and that benefit is discounted only by an amount that is consistent with a life expectancy no greater than one year in duration, the beneficiary (s) is not taxed on the life insurance proceeds.

To help keep rates affordable for all Farmers customers, we must occasionally cancel a policy if a policyholder becomes a high risk - for example, by filing multiple claims within a brief time period, causing an accident while under the influence of alcohol or drugs, or taking unnecessary risks (careless use of flammable liquids, reckless driving, etc.).

It also pays for liabilities which results from any injury suffered by an individual within the policyholder's property.

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.

Known within the auto insurance industry and investigatory agencies, «price optimization» is a practice by which insurers use a high - tech data - mining tool to identify loyal policyholders who are potentially the least likely to shop for a new insurance carrier — then charge them more for that loyalty.

These plans are more versatile compared to whole life insurance because the timing and the placement of the premium can be dictated — within certain guidelines — by the policyholder.

The funds that are within the cash component of the burial insurance policy can be borrowed or withdrawn for any reason by the policyholder — including for the payoff of debt, the funding of a college education for a grandchild, and / or to help with supplementing of retirement income.

But if suicide is committed within one year by the policyholder then the company will be liable to refund 80 % of the premium and all rights, benefits, and interests under this policy will nullify.

However, the policy can be revived by the policyholder, to be eligible once again for all the lost benefits within the stipulated time.

The policyholder may revive a policy by the payment of the due premium (s) at any time within a period of 30 days from the date of receipt of the revival notice but before the maturity date of the policy subject to satisfactory medical and financial underwriting.

Free look In the event the policyholder disagrees with any of the terms and conditions of the policy, he / she may return the policy to the Company within 15 days of its receipt for cancellation, stating his / her objections in which case the company will refund an amount equal to the non allocated premium plus the charges levied by cancellation of units plus fund value as on the date of receipt of the free look cancellation request less proportionate risk premium for the period the company has been on risk, less the expenses incurred by the company on medical examination of the life assured and less the stamp duty charges..

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.

Suicide: In case the insured commits suicide within the first year of the iMaximize Single Premium plan, the policy will terminate immediately and the fund value till date will be paid out to the beneficiary chosen by the policyholder.

If the policyholder commits suicide within 12 months of the revival period, then the Surrender Value or 80 % of the premiums paid by the policyholder is received.

Premiums paid by policyholders are pooled within the insurance company's life fund.

As long as the premiums paid by the policyholder fall within this given range, the policy remains active.

Other than a technical mistake by your insurance provider, the reasons for a canceled car insurance policy are normally within the policyholder's realm of control.

Lapsed policy reinstatement: The policyholder can reinstate the lapsed policy within 3 years by paying all the due premiums from the date of first unpaid premium

Funds are accessed by tapping into the cash value accumulated within your Whole Life policy, which as it builds, is like funding a line of credit for Whole Life insurance policyholders.

Here, both the benefit amount and the premium may be changed by the policyholder (within certain guidelines), and the policyholder can also have access to the cash value.