Sentences with phrase «death of the policyholder due»

The insurer provides a compensation to the nominee, subject to the death of the policyholder due to severe bodily injuries arising from an accident due to a visible, violent external means.

Death Benefit: The plan gives a very important death benefit coverage of INR 2,00,000 on the death of the policyholder due to any reasons.

Not exact matches

This is because the policyholder can — within certain guidelines — change the timing of when their premium is due, as well as the amount of money that goes towards the policy's cash component and its death benefit component.

In case of death due to suicide within 12 months from the date of inception of the policy or from the date of revival of the policy, the nominee or beneficiary of the Policyholder shall be entitled to Fund Value / Policy Account Value, as available on the date of death.

Universal life offers both permanent protection and flexibility in that the policyholder can — within certain guidelines — alter the premium due date, and can also decide how much of his or her premium dollars go toward the death benefit or the policy's cash value.

Unfortunately if death happens due to an accident then the nominee of the policyholder can claim the sum assured.

Group personal accident insurance offers complete coverage in the event of death or disablement of the policyholder due to accidents occurring anywhere in the world.

Whole life policies are suitable for people of all ages who wish to protect their families from a financial crisis due to premature death of the policyholder.

In case of death / first diagnosis of cancer, it is payable to the nominee / policyholder at each premium due date for the remaining period of the premium payment term.

In the absence of this rider, if the policyholder is disabled or faces income loss due to which premiums can not be paid, the policy will expire and no death benefit will be paid due to non-payment of due premiums.

If the insurer is having the claim amount for more than six months from the date of settlement, then it is known as the unclaimed amount which includes claim amount paid to the policyholder due to — premium refund, survival benefits, death / maturity etc..

The policyholder's family gets twice the amount of the policy as a result of death due to accidental bodily injury.

From the income so generated, the insurance companies are able to pay policyholders the amounts that may become due on the death of the policyholder, on policy maturity (in the case of investment plans) as well as any bonuses that may become due.

If the policyholder's death results due to suicide within a year of the policy tenure, only 90 % of the sum assured is returned to the nominee.

In these situations, policyholders should ideally assign a percentage rather than a dollar amount because the amount of the death benefit may increase or decrease due to investment gains, earned interest, fees, etc..

In case of death of life insured due to suicide within 12 months: i. From the date of inception of the policy, the nominee or beneficiary of the Policyholder shall be entitled to 80 % of the premiums paid excluding any payment for taxes and extra premiums, provided the policy is in force or ii.

If the death of the policyholder occurs during the grace period then the full sum assured will be paid to the beneficiary after the deduction of the premium due and all the premiums falling due during the policy year.

Death Benefit: In case the policyholder dies before this premium policy matures then all the premiums paid and due are paid to the family of that person.

The most important reason due to which people buy insurance policies is because the insurance providers offer life cover to the dependents in case of the unfortunate death of the policyholder.

The death benefit amount is given to the nominee of the policyholder on the occurrence of death due to any reasons after the 45 days of the cooling period clause.

This insurance can provide financial protection to the policyholder or their dependents on the repayment of a mortgage due to the policyholder contracting a critical illness condition or on the death of the policyholder.

This benefit protects policyholder's family from burdensome loan obligations and the bank from the increased default due to the unfortunate event of the death of the policyholder.

Suicide exclusion: In case of death due to suicide, within 12 months from the date of inception of the policy, the nominee of the policyholder shall be entitled to 80 % of the premiums paid.

In the event of death of Life Insured due to an accident, the Sum Assured under the Rider will be paid to the Policyholder / nominee in addition to the Sum Assured under the base policy and the rider will cease to exist.

So, if the basic sum assured is Rs 25 lakh and the policyholder has attached an ADB rider of Rs 10 lakh, the total claim amount will be Rs 35 lakh, if the death occurs due to an accident.

Even though insurance companies are expected to honour any and every claim that arises due to the death of the policyholder, it is also important for the companies to ensure only genuine claims are honoured.

In the unfortunate event of death of life insured, provided all due premiums till the date of death have been paid and the policy is in - force, the policyholder or nominee shall receive the higher of

Accidental death benefit and dismemberment is an additional benefit paid to the policyholder in the event of his death due to an accident.

In case of death due to suicide within 12 months from the date of inception of the policy or from the date of the revival of the policy, the nominee or beneficiary of the policyholder shall be entitled to the fund value, as available on the date of death.

10 % of Basic Sum Insured is payable for a period of up to 5 years.The Income Benefit will be paid as and when due irrespective of the expiry of the Policy Term or in case of death of Policyholder.