Sentences with phrase «date of commencement of the policy»

Risk cover starts from date of commencement of policy for all lives including minors.

Can a policy be cancelled without customer's consent after date of commencement of the policy?

In the form of maturity claim on completion of age 80 years or on expiry of term of 40 years from date of commencement of the policy whichever is later.

In case, the Policy Holder is less than 8 year old, then, Life Cover will start 2 year after Date of Commencement of Policy or completion of 8 year of age, whichever is earlier.

For Ulips, the lock - in period will continue to be five consecutive years from the date of commencement of the policy.

Star Health Insurance Company also provides for coverage of pre existing diseases, subject to expiry of 12 months of the date of commencement of the policy.

The company also provides for coverage of pre-existing diseases, subject to expiry of 11 months of the date of commencement of the policy.

In most cases, companies allow consumers to return the policy within a few weeks from the date of commencement of the policy.

Deferment period is the period that lasts from the date of commencement of the policy to the date of commencement of risk on the child's life.

Above benefits shall be reversed if the policy is terminated / cease to be in force within 2 years for traditional products and 5 years for ULIP products after the date of commencement of policy.

This is a charge expressed as a percentage of Annualised Premium and is levied at each monthly anniversary by canceling proportionate Units starting from the date of commencement of Policy.

** For monthly mode, 3 monthly premiums are collected in advance on the date of commencement of the policy.

In such case 3 months premium amount will be collected in advance on the date of commencement of the policy and adjusted towards only on the policy due dates.

On each monthly anniversary, appropriate number of Units are canceled from the Unit Account at their Unit Price to meet mortality for the Life Insurance starting from the Date of Commencement of the Policy.

Partial Withdrawals under the base plan: You are allowed to make partial withdrawals after 5 years from the date of commencement of the policy or on attainment of age 18 by the life assured whichever is later.

If the insured commits suicide within one year from the date of commencement of the Policy or date of revival of the Policy, the company will pay death benefit equal to 80 % of the premiums paid till the date of suicide.

However, common ailments such as diabetes, hypertension, hernia, age - related osteoarthritis and osteoporosis, are usually covered only after two years from the date of commencement of the policy.

Cancellation of the policy can be done only if the journey is not undertaken by the insured and policy cancellation will not be entertained for less than 14 days from the date of commencement of policy.

* for entry age below 5 years, risk commences after 1 Year and 11 months from the date of commencement of the policy.

If the Life Assured commits suicide for any reason, while sane or insane, within 12 months from the date of commencement of this policy or the date of any revival of the policy this policy shall be treated as null and void, and the Company will limit the death benefit to the Fund Value and will not pay any insured benefit

In case of demise during 1 year and 11 months following the date of commencement of the policy, 105 % of total premiums paid (till the date of death) is then payable.

When occurred within 12 months, from the date of commencement of the policy, the nominee is entitled to receive 80 % of the premiums paid only when the policy is in - force.

If the event of death of the life insured, whether sane or insane commits suicide within 12 months from the date of commencement of the policy or the revival of the policy, the nominee of the policyholder is entitled to receive the fund value as available on the date of death.

If the age at entry is less than 8 years, the risk will commence either one day before the completion of 2 years from the date of commencement of the policy or one day before the policy anniversary coinciding with or following the completion of 8 years, whichever is earlier.

The regulator had also said that in the monthly premium payment mode, insurers could accept three months» premiums in advance only on the date of commencement of the policy.

This bonus is added from the date of commencement of the policy until the completion of the policy term or death of the life assured, whichever occurs earlier.

The mortality charge will be levied on the basis of «Sum at Risk» on every monthly anniversary by canceling units from the unit account starting from the date of commencement of policy.

Every month, the appropriate number of units are canceled from the Unit Account starting from the date of commencement of the policy.

There is also a waiting period of 90 days between the date of commencement of the policy and diagnosis of the critical illness and if a claim is made within that period, no CI benefit is payable.

Example: - Date of commencement of policy was: - 04/02/1990 Client age at the time of taking policy: - 30 yr.

In case of death of the life assured after the date of surrender but before the completion of 3 years from the date of commencement of policy the monetary value payable on completion of 3 years shall be payable to the nominee / legal heir immediately on death.

i) where the policy is not revived during the period of revival, the policy shall be terminated after completion of 3 years from the date of commencement of the policy or on expiry of revival period, whichever is later.

No amount shall be payable within 3 years from the date of commencement of policy.

In case of death of life assured after the date of surrender but before the completion of 3 years from the date of commencement of policy the monetary value payable on the completion of 3 years shall be payable to the nominee / legal heir immediately on death

If the life assured commits suicide within one year of the date of commencement of the policy, the insurance company will not be liable to pay any benefit.

Where the life to be insured is a minor at the date of commencement of policy, there shall be a proposer to propose Life Insurance cover on the life of the minor.

1) Mrs.Ramya dies after 5 years from the date of commencement of policy.

No charges shall be deducted thereafter and this monetary value shall be paid on completion of 3 years from the date of commencement of policy.

This is a fixed charge for all the variants, levied at each monthly anniversary by canceling proportionate units starting from the date of commencement of policy.

If you apply for surrender of the policy within 3 years from the date of commencement of policy, then the Policyholder's fund value of units shall be converted into monetary terms.

This bonus amount is added from the date of commencement of the policy till death or completion of the policy term, whichever is earlier.

If the life insured age is less then 8 years, than the risk will commence after 2 years from the date of commencement of policy.

In case the surrender of the policy within 3 years from the date of commencement of policy, then the Policyholder's Fund Value shall be converted into monetary terms.

Sum assured plus accrued bonuses and the terminal bonuses, if any, on the policyholder attaining age 80 years or on expiry of term of 40 years from the date of commencement of the policy whichever is later

This bonus is added from the date of commencement of the policy until completion of the chosen policy term or death, whichever occurs earlier.

Simple Reversionary Bonuses is added from the date of commencement of the policy till the chosen policy term or the date of death, whichever occurs earlier.

For Life Insured with entry age below 5 years: For minor lives, where the entry age is below 5 years, in case of death during the 1 year and 11 months from the date of commencement of the policy, 105 % of total premiums paid till date of death.

Policyholder's Fund Value will be converted to annuity, if policy is discontinued or surrendered after 5 years from the date of commencement of policy.

This bonus is added from the date of commencement of the policy until death or completion of the policy term, whichever occurs earlier.