Sentences with phrase «by the master policyholder»

For Administrative purposes, all such free - look requests should be registered by Master Policyholder on behalf of Scheme Member.

The plan can be bought by the Master Policyholder and the members can be covered automatically or through voluntary participation

Policy Termination or Surrender Benefit: the policy may be surrendered by the Master policyholder but the member may continue the cover till the end of the term but there is no Surrender Value payable

* Premiums paid by the master policyholder are tax deductible as business expense (section 37 of Income Tax Act, 1961) and are not taxable as a perquisite in the hands of the member.

The policy will be renewed at Policy Anniversary date every year and will be in force unless it is specifically terminated by Master Policyholder or us

The policy will be renewed at Policy Anniversary date every year and will be in force unless it is specifically terminated by Master Policyholder or Exide Life Insurance.

However, in case the group policy is surrendered by the master policyholder, the insurer shall give an option to individual members of the group, on such surrender, to continue the coverage and the insurer shall continue to be responsible to serve such members till their coverage is terminated / expires.

On death of the insured member, Sum Assured covered under this option shall be paid in form of regular monthly payouts for the payout period opted by the master policyholder.

No change of option and the RMI term can be exercised by the Master policyholder during the entire term of the policy.

Not exact matches

As defined in the rules of the group insurance scheme under administration or as defined by the employer for employer - employee group and Master Policyholder for non-employer-employee group.

In December 2014, the Insurance Regulatory and Development Authority (IRDA) issued guidelines applicable to group insurance policies and schemes executed by institutions acting as group organizers or master policyholders — the scheduled commercial banks regulated by the Reserve Bank of India (RBI), NBFCs with certificate of registration from RBI, and National Housing Bank (NHB)- regulated housing finance companies.

• On encashment of leaves by a member while in service or in case of death / retirement / resignation or termination, the Master Policyholder will be paid an amount equivalent to the amount payable to the member as per the Company's Leave Encashment Rules, by canceling the units of equivalent amount from the master policyholder's acMaster Policyholder will be paid an amount equivalent to the amount payable to the member as per the Company's Leave Encashment Rules, by canceling the units of equivalent amount from the master policyholdePolicyholder will be paid an amount equivalent to the amount payable to the member as per the Company's Leave Encashment Rules, by canceling the units of equivalent amount from the master policyholder's acmaster policyholderpolicyholder's account.