In case of the unfortunate event of
death of policyholder during the income benefit period, the remaining payouts will be made to the nominee.
A double accident life insurance policy provides for the payment of an additional amount equal to the sum assured in case of
death of the policyholder due to an accident.
The nominees can opt for full lump sum amount payable
on death of the policyholder, or 50 % upfront, followed by annual income for next 10 years.
On the event
of death of the policyholder during the policy term, the beneficiary will receive the amount chosen at the time of choosing the policy.
In case
death of a policyholder occurs under such a circumstance, the beneficiary may approach the Insurance Regulatory and Development Authority (IRDA) to consider the issue on humanitarian grounds.
On
death of the policyholder under HDFC Life Progrowth Plus, higher of the Sum Assured net of Partial Withdrawals made 2 years prior to death or Fund Value or 105 % of premiums paid is payable to the nominee if attained age is less than 60 years
· There is an additional rider available with this policy, which is the Future Generali Linked Accidental Death Rider, which provides an additional insurance cover
if death of the policyholder results from an accident.
Death Benefit - In case of
untimely death of the policyholder during the policy term, the nominee will receive the sum assured in the form of death benefit + simple revisionary bonus + final additional bonus (if all due premiums have been paid).
Life insurance, meanwhile, generates an estate, diminishes the financial uncertainty of passing away too soon, grants the beneficiary a specified amount
at death of the policyholder in exchange for a premium which is determined by sex, age, type of insurance, amount of death benefit and health.
An endowment plan without profit guarantees only the sum insured to be paid to the nominee in case of
death of the policyholder without any bonus, profit or any other benefit while an endowment plan with profit gives you sum assured along with the profit, bonus and all other benefits accumulated during the policy term.
Edelweiss Tokio Life Protection is a pure Term Insurance Plan which provides a lump sum to the family in the event of
death of the policyholder taking care of the income replacement needs.
The nominee gets the Sum Assured (SA) on
death of the policyholder which is higher than 10 times the annual premium or 105 % of all premiums paid till death under the Lump sum Benefit option.
On
death of the policyholder higher of the SA on death + accrued reversionary bonuses and Terminal Bonus if any or 105 % of all premiums paid till death is payable
Paid up sum assured (Death) = Sum assured on
death of policyholder x (number of premiums already paid / number of premiums that are payable during the premium paying term)
LIC's Aadhaar Stambh Plan also provides financial support to the family in case of
unfortunate death of policyholder before maturity and a lump sum amount the time of maturity for the surviving policyholder.
One thing in common present in their policies is the opportunity that they afford the policyholders to either accumulate cash, and / or the provision for a death benefit that the family of the policy can receive
upon death of the policyholder.
In the
accidental death of the policyholder due to an Infection except for the infections caused by any external wound and accidentally sustained, insured person under the influence of drugs except under the prescription of a registered medical practitioner, self - inflict injury, involvement in any criminal acts or unlawful activity, during any war or invasion or a riot or civil commotion, nuclear contamination, radioactive or involvement in hazardous activities.
LIC's Aadhaar Shila Plan also provides financial support to the family in case of unfortunate
death of policyholder before maturity and a lump sum amount the time of maturity for the surviving policyholder.
[x] An insurance where there is an agreement between the insurer and the insured, where the insurer (insurance company) agrees to pay a certain amount of money in the event of
death of the policyholder or to the policy holder after a certain period of time.
Tata AIA Life Insurance iRaksha Supreme is an online pure term plan which provides a high life coverage at very cheap rates so that the family is secured against premature death of the policyholder
Nominee receives higher of sum assured or 10 times the annualised premium or 105 % the total premiums paid as on the date of death on
death of the policyholder in this HDFC term plan
Post the payment of maturity benefit, the plan continues and
on death of the policyholder after the end of the term and before turning 100, additional Sum Assured is paid without bonuses
Death Benefit - In case of unfortunate
death of the policyholder during the tenure of the policy, the beneficiary of the policy receives the death benefit as the sum assured amount, which is 105 % of the total premium paid till demise.
Phrases with «death of the policyholder»