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

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.

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.

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.

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

In simple terms, the Term insurance plan is one which provides risk coverage to the nominee in case of death of the policy holder without any maturity amount.

Option to select accidental death benefit where in case of death of policy holder due to an accident, an additional equal sum assured would be paid to the nominee.

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.

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

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

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.

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.

A normal ULIP terminates on payment of a lump sum amount in case of death of the 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.

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

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.

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.

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.

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, the company waives off the insurance premiums as well.

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.

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.

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.

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.

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.

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.

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

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: 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.

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.

Not exact matches

In many of these cases, a term life insurance policy is often the most inexpensive choice and the full face value of the policy pays out on the policy holder's death.

Hence, child plans provide the nominee of the policy a death benefit in case of the unfortunate death of the policy holder.

Term plans are meant to provide the dependants of the policy holder enough funds to cover the policyholder's income in case of his / her death.

Term insurance has garnered importance in recent times as it is a policy which provides a life cover for a definite period of time and benefits the nominee of the deceased policy holder in case of his / her death.

A Life Insurance Policy is essentially a contract between an insurance holder and an insurance company wherein the parties agree to certain conditions which provide the policyholder a lump - sum amount of money in case of his / her death.

In case of unfortunate death of the policy holder death risk commencement, only premium paid will be paid back.

Like other endowment plans, it is meant to give double benefit: death benefit to family in case of policy holder's demise, and maturity benefit to policy - holder in case of survival.

This would be the case if one of the policies becomes inactive (other than the death of a policy holder), or when individuals no longer reside in the same household.

Life insurance living benefits — also referred to as a policy's accelerated death benefits — can allow the policy holder to use some (or in some cases, even all) of the death benefit proceeds during his or her lifetime.

In case of «Whole Life Plan'the policy holder is obliged to pay a fixed amount of premium on a regular basis till the term of the policy, failing which will cease the death benefit payable under the policy.

This means that one can opt from various options on how death benefit is provided to nominee in case of policy holder's demise.

Furthermore, in the case of death, the policy holder's gains usually aren't taxed.

Hello Liz, You are correct, as a California resident policy holder, in the very remote case of liquidation of Genworth, the California Health & Life Insurance Guarantee Association would pay as follows: Life insurance death benefit protection: 80 % of the policy death benefit up to a maximum of $ 300,000; However, as Chris mentioned in the article, our sincere expectation is that Genworth will not have to be liquidated nor become bankrupt, as we expect any number of other much better resolutions will occur.

ACCELERATED DEATH BENEFITS A benefit that can be attached to a life insurance policy that enables the policy holder to receive cash advances against the death benefit in the case of being diagnosed with a terminal illDEATH BENEFITS A benefit that can be attached to a life insurance policy that enables the policy holder to receive cash advances against the death benefit in the case of being diagnosed with a terminal illdeath benefit in the case of being diagnosed with a terminal illness.

It is the simplest and cheapest insurance policy available in the insurance market that provides financial benefits to the family of the insured in case of untimely death of the policy holder.

So, if the policy holder had an INR 1 crore coverage, in case of death due to an accident the nominee will get INR 2 crore.