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

In addition, the nominee also gets the Income Benefit, which is 10 % of the Sum Assured, every year till the end of the policy term, from the date of death of the policy holder.

Not exact matches

However, universal life is thought of as being more flexible than whole life because the policy holder has more control over when the premium due date is, as well as how much of the premium goes towards the death benefit, and how much goes towards the policy's cash value (within certain guidelines).

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.

There is no date of expiry like in a term life insurance and the death benefits will be received by the beneficiary mentioned in the policy only in the event of the death of the policy holder.

Only plus point in this policy is if death of policy holder occurs at any time (after commencement of policy), all the payouts will be given by company (as mentioned earlier) from the date of claim settlement.

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.

On death before the beginning of risk, an amount equivalent to the policy holder's fund value will be payable, whereas on death after the date of beginning of risk, an amount equivalent to the higher of sum assured or policy holder's fund value to be paid.

In case of death before the commencement of risk, policy holder's family will get the paid premiums till date after deducting taxes, extra premium and rider Premiums (if any).

After the date of maturity, all death claim benefits cease to exist and the policy holder is paid the agreed sum assured along with vested bonus.

On death of policy holder, his / her family will get highest of any one of them: 10 times of annualized premium or guaranteed sum assured or 105 % of all the premiums paid as on the date of death.

The suicide clause indicates that the insurance carrier is not obliged to give the death benefit to the heirs, if the policy holder commits suicide within two years of the date of purchase.

In case, policy holder expires during the policy term, within 5 years from the date of purchasing the policy then death benefit ie Basic Sum Assured on death (10 times of single premium amount) is payable to his nominee.

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.