Sentences with phrase «death of the policy holder within»

This term may be 1 or more years and the benefits are paid only in the event of death of the policy holder within the term of the policy.

Not exact matches

Whole life insurance (cash value life insurance) offers a permanent accruing death benefit as well as accruing cash value within the policy over the life of the policy holder based upon mortality tables.

Typically, a universal life insurance policy holder may adjust — within certain limits — the death benefit amount, as well as the timing and the amount of their premium.

One reason for this is because the policy holder is allowed — within certain guidelines — to choose how much of his or her premium will go towards the policy's death benefit, and how much will go into the policy's cash value.

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).

Typically, a universal life insurance policy holder is allowed to change — within certain limits — the death benefit, as well as the timing and the amount of their premium.

If the policy holder dies within three years of buying the policy, then it is considered an early death.

This type of policy is considered to be more flexible than whole life, though, because the policy holder may choose — within certain parameters — how much of the premium will go towards the policy's death benefit, and how much will go into the cash value.

The life insurance suicide clause generally states that there will be no death benefit paid if the policy holder commits suicide within the first two years of the policy.

In doing so, the policy holder may change — within certain stated limits — the amount of death benefit proceeds.

These plans provide death benefit protection and a cash value component, but they are considered to be more flexible, as the policy holder (within certain guidelines) may be able to change the frequency and the amount of the premium.

This is because the policy holder — within certain guidelines — may choose how much of the premium will go towards the death benefit, and how much will go into the cash value portion of the policy.

Policy holders can also set the amount of their death benefit — within certain guidelines — when the policy is in Policy holders can also set the amount of their death benefit — within certain guidelines — when the policy is in policy is in force.

Universal life insurance offers policy holders a great deal of flexibility in that they can choose — within certain parameters — when they make their premium payment, as well as how much of that payment is allocated to the death benefit and how much of it is allocated to the cash value component.

These policies offer more flexibility than whole life insurance because the policy holder may allocate — within certain guidelines — how much of the premium goes towards the death benefit and how much goes toward the cash value.

Moreover, the insurance company can always question if the death of policy holder happens within 3 years of purchase of the policy.

If the policy - holder dies within the grace period before the premium is paid, then the insurance provider will deduct the value of the premium from your death benefit.

Plan for a 2 - year waiting period for the death benefit, however, most provide a «return of premium» if a policy holder dies within the first two years.

Whole life insurance (cash value life insurance) offers a permanent accruing death benefit as well as accruing cash value within the policy over the life of the policy holder based upon mortality tables.

Under this benefit, in case the holder of the policy dies within the term of the policy than the sum assured on death plus simple reversionary bonuses and the Final Additional Bonus is there then it will be given.

For instance, if there is an unsettled payment for premiums upon the death of the policy holder and is well within the grace period, the heirs can still avail of the cash benefit.

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.

A term plan is the cheapest form of life insurance where a certain amount (called death benefit) is paid to the policy holder's family if he / she expires within the term of the insurance policy.

Death benefits: If the policy - holder dies within the tenure of the policy, the legal or designated nominees get the death benDeath benefits: If the policy - holder dies within the tenure of the policy, the legal or designated nominees get the death bendeath benefits

The second option for the insurance policy seeker is to opt for the «Term Assurance» plan, under which the policy holder is eligible for an Endowment Assurance plan and the sum assured is paid in case of survival of the assured within the stipulated period, or in the event of his / her earlier death.

The premiums paid are exempt under Section 80 C (within the overall limit of Rs 1.5 lakh) and the benefits received on maturity or death of the policy holder are exempt under Section 10...

The premiums paid are exempt under Section 80 C (within the overall limit of Rs 1.5 lakh) and the benefits received on maturity or death of the policy holder are exempt under Section 10 (10D) of the Income Tax Act.

In case of death, nominee has to inform the branch of the policy holder within the 30 days of the event.

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.