Sentences with phrase «case of death of the policy holder»

It is a type of pure insurance plan where the beneficiary will get the benefit only in case of death of the policy holder during the policy term.

This benefit of amount is generally applicable after the maturity of the policy, but even at cases of death of the policy holder and sometimes during critical illnesses.

In case of the death of the policy holder how will the insurance company pay the benefits.

Life insurance is primarily a policy that provides adequate financial support to the beneficiaries (could be one or more) of the policy in case of the death of the policy holder.

• Savings cum protection: The policy buyer deposits a lump sum to the insurance company as premium, and his nominees receive the assured amount in case of death of policy holder during the term.

10 times of single premium paid (excluding Service Tax) + Loyalty Addition is payable as death claim amount, in case of death of the policy holder before completing 15 years or the maturity date of the policy.

Endowment plan — This plan differs from term plan only in one aspect, the endowment plan makes a pay out in case of death of policy holder as well as in case of the maturity of the plan term.

you have not considered that entire sum assured will be given to nominee in case of death of policy holder dies any time before maturity without deducting the survival benefits already paid.

Sum assured is the minimum amount payable by the insurance companyin case of death of the policy holder.

As per the above table, it is clear that premium for lesser term is more than that for higher term and total premium to be paid not to be confused with sum assured as it is minimum amount to paid to nominee in case of death of policy holder even single premium has been paid.

ON DEATH: In case of death of policy holder during policy term, 10 % of Sum Assured will be provided to nominee every year till one year prior to maturity, and On maturity, 110 % of Sum Assured + Simple Reversionary Bonus + Final Addition Bonus will be payable as maturity amount.

Sum assured (in case of death of the policy holder before maturity) is 10 lakhs and maturity amount (applicable only if the policy holder survived the tenure) is Rs. 23, 10,000.

Insurance21 Replied: 01-12-2017 10:26:35 NO, It does not provide life insurance, in case of death of policy holder paid amount excluding GST is return in option 6 and 10 only.

Hi Vipul, on maturity of ulip for Type 2 option on a ulip do you get funds value + sum assured or is it only in case of death of policy holder.

In case of death of the policy holder, the company waives off the insurance premiums as well.

Like any other Life Insurance, here also you will get assured sum after maturity and in case of death of the policy holder the nominee will be benefited by the amount.

Term life insurance plans ensure that the beneficiaries or the claimants are eligible to receive a lump sum amount as the death benefit in case of the death of the policy holder.

Amount paid in the case of death of the policy holder or at maturity of a policy.

The main benefit is the provision of finances in case of the death of the policy holder.

Offers protection against the repayment of loan liability by the nominee or legal heir in case of death of the policy holder.

In case of the death of the policy holder, all future premiums will be waived and a lump sum amount will be paid out

If I have to say in simple terms, a term plan is nothing but an insurance policy under which a family will get the lump - sum benefit in case of death of policy holder.

In case of death of the policy holder during the policy term, the Death Benefit which implies the Sum Assured on Death + Vested Simple Reversionary Bonuses along with Final additional bonus, if any, is payable to the nominee.

Your family becomes eligible to receive bonus along with sum assured in case of death of the policy holder during the policy period of 15 years

In case of death of policy holder, the fund value accumulated till date will be paid to nominee in case death before the date of commencement of risk.

An Endowment Assurance Plan with financial protection in case of death of policy holder.

In case of death of policy holder during the policy term, this policy provides 10 % of sum assured every year till maturity and on maturity it again provides 110 % of Sum Assured + Bonuses as maturity.

In case of the death of policy holder, annual income payments are made to the policy holder's family

It is the most affordable type of life insurance and suits the most important purpose of a life insurance policy, which is to provide financial protection for your family in case of the death of the policy holder.

In case of death of a policy holder during the policy term, future premiums are waived off and guaranteed annual payouts are payable to the nominee

In case of death of the policy holder, with beneficiary already deceased and there is no will, the Insurance Company will pay only to the Legal Heir of the Policy Holder.

In case of death of the policy holder, the company waives off the insurance premiums as well.

Like other plans here also you will get assured sum after maturity and in the case of the death of the policy holder the nominee will be benefited by the sum assured amount.

c) Income Option: 10 % of Sum Assured is paid in case of death of the policy holder and balance is paid in equal monthly instalments for the next 15 years of time frame.

A pension plan is a plan in which you pay once and you start receiving pension at a pre-decided frequency (choice of yearly, half yearly, quarterly, monthly payout options) for life with a guarantee of return of full purchase price in case of death of policy holder.

In this case, the insurance company agrees to pay a guaranteed sum of money to the beneficiary in case of death of policy holder in return for the premiums paid by the policy holder.

Insurance21 Replied: 27-04-2017 15:53:51 No, in case of death of policy holder, his / her nominee will get death claim amount and policy will stop.

LIC's Amulya Jeevan II is a term plan, which provides life cover in case of death of policy holder, Lets take an example of a person who is purchasing Amulya Jeevan II with following details.

Insurance21 Replied: 27-11-2017 12:06:20 It means, in case of death of policy holder, the deposited amount will be returned to nominee.

Insurance21 Replied: 26-01-2018 19:49:58 There is no provision that in case of death of policy holder (Annuitant), his daughter gets annuity but same provision is available for spouse.

In case of death of policy holder before 15 years or date of maturity, 10 times of single premium paid (excluding Service Tax) + Loyalty Addition will be death claim amount.