Sentences with phrase «death of the insured»

The insurance cover amount is payable to the nominee in case of death of the insured person during the term of the policy.

In this scenario, the beneficiaries will no longer have a share of the proceeds upon death of the insured person.

Upon death of the insured person, this provision allows the death benefit to be paid in one lump sum, in monthly payments, or some other way.

The nominees of the policy can claim death benefits from the insurer in the event of death of the insured during the tenure of the policy.

This option provides regular monthly income on death of the insured member.

After this term if death occurs, then the balance 50 % sum assured is paid to the nominee after death of the insured.

Some of the policy also offers accidental death benefit rider in case of accidental death of the insured person on top of the death benefit.

If death of the insured occurs during the policy term, the beneficiary collects the face amount (death benefit) of the life insurance policy income - tax free.

In the unfortunate event of death of the insured within the term of the policy, the nominee (s) stands to receive the sum assured.

Insurance cover is provided for death of the insured member and has attractive premium rates.

In case of death of the insured member, apart from the scheme specific death benefit, fixed life insurance cover amount of Rs 1000 per member, shall also be payable.

There are some requirements regarding ownership of the policy before and at death of the insured for the benefit to qualify as tax free in some circumstances.

The explanation for why the cash value expires upon death of the insured party is due to the fact that only cash value or a death benefit may be claimed.

On the unfortunate death of the insured person, the beneficiary is provided with the death benefit that is higher of the fund value and the basic sum assured.

In case of death of the insured individual during the policy term, the death benefit is paid by the company to the beneficiary.

Life insurance payouts resulting from death of the insured are barred from the beneficiary's income and not subject to tax.

The income payout starts from the 1st day of month immediately following death of insured and continues for the outstanding policy term, i.e. till the original maturity date of the policy.

This section covers the physical damage or death of the insured by any accident, violence or any other external and evident means which is mentioned in the policy.

These are payable on maturity of the policy, with basic sum assured or on earlier death of the insured with sum assured on death.

Under this policy, the child is the beneficiary and in the event of an unfortunate death of the insured parent, the child receives the death benefit.

It is usually a part of some of the policies and is used mainly for generating income post death of the insured.

It is useful post the sudden death of the insured especially if he is the sole earning member of the family.

A group life insurance contract that protects a creditor in the event of death of the insured prior to their debt being fully paid.

The insurer makes a contract with the insured to provide a sum assured as a death benefit to the nominee in the event of an unexpected death of the insured.

This rider provides extra financial benefits to the nominee in case of death of the insured arising from an accident.

Life insurance provides a very important function against the financial loss due to an unexpected premature death of an insured, whether it be a family member, business partner or key individual.

The life cover would provide financial compensation to the beneficiary in case of natural death of the insured whereas the personal accident cover would be applicable in case of accidental death.

This is the only guaranteed part of the endowment policies that you will get the assured sum on the policy maturity date or before in case of early death of the insured.

I think the company is liable to pay to insured nominee in case any reason death of the insured except mention above.

Any medical expenses incurred due to an accidental injury, sudden illness or any unfortunate event leading to the sudden death of the insured student, the family is compensated for the loss.

The plan provides comprehensive insurance cover to the borrowers of the institution and offers to pay off the principal loan outstanding in the event of death of the insured borrower.

For example, a death certificate to evidence death of an insured for a life insurance policy.

In case of death of the insured executive, the firm receives a lump sum death benefit.

Upon the ultimate death of the insured the balance of the death benefit was paid to the beneficiary.

The beneficiary it the named person or entity on a life insurance policy that will receive the death benefit upon death of the insured.

After death of the insured, the remaining fund is paid to the nominee.

Special assistance, if provided, in the event of accidental death of the insured or injury or disability.

In case of death of the insured during the tenure of the plan, all future premiums are waived off and the plan continues.

A life insurance policy covers death of the insured person resulting from an accident or natural causes.

A rider or supplemental benefit that provides an additional death benefit if death of the insured is by accidental means.

In case of death of insured due to an accident then beneficiaries are entitled to a higher compensation.

This section covers the physical damage or death of the insured by any accident, violence or any other external and evident means which is mentioned in the schedule.

In the event of unfortunate death of the insured, 10 % of the sum assured will be paid out on every policy anniversary till the policy matures.

You will also be glad to know that the policy offers a provision to receive complete benefits without paying future premiums, in case of death of the insured parent.

This rider ensures additional financial benefits to the nominee in case of death of the insured arising from an accident.

And it will safeguard the family in case of a premature death of the insured.

The plan continues to provide coverage in case of the sudden death of the insured and even after the maturity of the plan.

In the event of death of the insured before the completion of 5 years, the income benefit amount for the remaining years will be payable to the insured's nominee.