Sentences with phrase «by the policyholder during»

As a living benefit, any cash value may be drawn upon by the policyholder during their life.

Term plans offer death benefit which is equal to the sum assured opted, by the policyholder during the policy term.

Not exact matches

So, if funds are needed by a variable life policyholder during his or her lifetime, these plans will typically allow the individual to either withdraw or borrow cash from the investment component of the policy.

Nationwide boasts that it kept its promise to protect policyholders by paying out more than $ 16 billion in claims and other benefits during 2015.

In India, the word term insurance refers to a policy that provides financial cover by assuring an amount for the life of a person who is the policyholder during a specified interval of his life (called the term).

The maximum limit of liability payable by an insurance carrier on behalf of a policyholder during any given policy period

1Terms & conditions apply 2Total premiums paid is equal to all premiums payable during the premium paying term of the policy excluding extra premiums, Goods & Service Tax paid by the policyholder but includes any frequency loading.

Policyholders will now be able to claim for Additional Living Expenses incurred during the period of time in which access to the premises is prohibited by Civil Authority / Mass Evacuation Order, subject to the new 30 - day maximum.

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

Under the second option, Option B, in case of death of the insured during the tenure of the plan, 30 % - 80 % of the Sum Assured can be availed by the policyholder as per his choice and 110 % of the balance amount is paid over a period of 5 years in monthly instalments.

The rider states that if the parent who is the policyholder and life insured under the plan dies during the tenure of the plan, all future premiums payable under the plan will be waived and paid for by the company.

An insurance contract will promise to pay out the sum assured when the premium is paid by the policyholder and an insured event occurs during... read more

In case the policyholder disagrees with any of the terms and conditions, he / she has the option to cancel the plan during the free look period by returning the original plan document along with a written request stating the specific reasons and objections for cancellation.

The amount payable by the policyholder at regular intervals during the Premium Paying Term, and at the Premium Payment Frequency

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.

In addition to higher premiums, insurance companies that issue guaranteed life policies protect themselves against risk in two additional ways: (1) by offering relatively low payouts, and (2) by typically not providing a death benefit during the first two years after issuing the policy (if the policyholder dies during this time, the company issues a refund of premiums instead).

So, if funds are needed by a variable life policyholder during his or her lifetime, these plans will typically allow the individual to either withdraw or borrow cash from the investment component of the policy.

Further, the nomination can be revoked or cancelled at any time during the lifetime of the policyholder at his will and pleasure or by a subsequent assignment.

Note: In case, the life assured passes away during the policy period, the insurance company pays the sum assured to the nominee as per the payout opted by the policyholder.

The investment risk during the settlement period will be borne by the policyholder.

One of the advantages offered by this rider is that in the case of death of the insured during the term of the policy, an additional amount equivalent to the sum assured of the term assurance rider is liable to be paid to the policyholder as long as the applicability of the coverage of the plan rider is there.

During this period the policyholder can cancel the policy if he / she is not satisfied with the coverage provided by the policy.

An insurance contract will promise to pay out the sum assured when the premium is paid by the policyholder and an insured event occurs during the contract's term.

The people who bought the policy in question during the period of 2008 - 09 and 2010 - 11 would be the main beneficiaries of the refund order, according to which the policyholders will get 44 % of the Rs 625 crore premiums that was collectively paid by them for the plan.

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.

The policy allows policyholders to change the mode of premium payment at any time during the policy term by submitting a written request for the same.

If policyholder feels that he / she needs cover for additional risks, then he / she may opt for these rider features, and these include the accidental death and accidental disability riders and can be opted along with the basic plan during any policy anniversary of the premium paying term of the policy by payment of the additional premium amount.

Death benefit option shall be chosen by policyholder at inception and it can not be changed during the Policy Term.

Benefits received by the policyholder on the completion or during the Policy Term are called Survival Benefits.

Life Cover: If the policyholder dies during the policy term, the death benefits shall be paid to the nominee as a lump sum amount and future premium will be paid off and shall be paid by the company itself.

Nominee is the person nominated by the policyholder to receive the benefit under a life insurance policy during settlement of claim.

Monthly Payout — Amount chosen by the policyholder is payable at the beginning of every month during the payout period.

If a policyholder of the Amulya Jeevan II Plan meets with death during the tenure of the policy, then it may apply to the beneficiaries or nominees of the policyholder the sum assured by the policyholder.

If the insured dies during the period of receiving installments, then the remaining installments are paid to the beneficiary or the nominee as mentioned by the policyholder.

Also, with Life Stage Protection benefit the policyholder can increase your Sum Assured (by paying revised extra premium) or reduce the additional cover later during the policy term (which will result in a proportional decrease in future premiums).

The nominee can be changed by the policyholder any time during the policy period by giving a notice to the insurer.

If the policyholder elects not to have the benefit paid out immediately upon his death but instead held by the insurance company for a given period of time, the beneficiary may have to pay taxes on the interest generated during that period.

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