Sentences with phrase «canceled by the policyholder»

Unlike term, a permanent life insurance policy will stay in force, unless it is canceled by the policyholder or the premium stops being paid for the coverage.

These rights can only be canceled by the policyholder if the irrevocable beneficiary offers his or her consent.

Not exact matches

If the policyholder cancels the policy before the end of the surrender period, it is not likely the policyholder will receive any amount of the cash value because these costs are incurred by the insurance company to set up the policy.

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 policyholder may cancel this policy by giving us notice in writing to AIG Europe Limited, 30 Northwall Quay, IFSC, Dublin 1

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.

Trip cancellation coverage reimburses policyholders for non-refundable expenditures and deposits incurred when a scheduled trip is cancelled for any reason acknowledged by the insurance 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.

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.).

If the cash value ever reaches zero due to investment failures or withdrawal of cash by the policyholder, the policy is cancelled, so types of universal life insurance policies are less permanent than whole life insurance policies.

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

If the policyholder has committed fraud or misrepresentation, then the policy will be immediately cancelled by refunding the applicable Surrender Value.

Once the policy is canceled, the policyholder receives the premium of the policy after deducting the proportionate premium for the risk borne by the company.

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.

If the policy is surrendered (cancelled), the policyholder will receive the cash value accumulated by the insurance plan.

In some cases, if the policyholder dies just before the premium due date and the final payment is missed, the grace period will give the survivors a little room to correct the oversight by making the payment so the policy is not be canceled.

The flat charges for revival shall be Rs. 500 / - and for alteration shall be Rs. 250 / - which will be deducted by canceling the Policyholder's Fund Value appropriately and the deduction shall be made on the date of revival / alteration in the policy.

Partial Withdrawal Charge: A flat amount of Rs 100 is deducted by cancelling appropriate units from the Policyholder's Fund Value.

This charge is levied at the beginning of each month by canceling appropriate number of units from the Policyholder's Fund Value.

Mortality Charges: Mortality mortality charge is levied on Sum at Risk and it is deducted at the beginning of each month by cancelling the appropriate number of units from the policyholder's fund till maturity, death, discontinued or surrendered..

• 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 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 policyholderpolicyholder's account.

A Galaxy survey commissioned by comparison website iSelect found that 50 % of policyholders planned to compare or switch health funds to make sure they're getting the best deal, while 24 % planned to downgrade or cancel their policy.

• Provide advance payments on flood claims, even before visits by an adjuster • Increase the advance payment allowable for policyholders who provide photographs or video depicting flood damage, along with receipts or canceled checks for their out - of - pocket expenses, or a contractor's itemized estimate • Waive the initial Proof of Loss (POL) requirement to allow advance payments • Extend the standard 30 - day grace period for NFIP policy renewals