Sentences with phrase «death sum insured»

Not exact matches

The general function of life insurance is to create a sum of money payable at the death of the insured in order to replace the economic loss resulting from the person's death.

A family income benefit rider provides steady income to beneficiaries to cover monthly costs beyond the lump - sum death benefit in the event the insured dies prematurely,.

If the insured dies within this term (10, 15, 20, 25, 30, or 35 years), the life insurance company pays a lump sum death benefit to the policy's beneficiaries.

At its most basic, life insurance provides a sum of money, called a death benefit, to the beneficiary of a life insurance policy upon the death of the insured.

At that point, your insurance is paid up, meaning you no longer have to pay any premiums, but the sum insured remains in force until your death.

Death Benefit - In case of uncertain demise of the insured person during the tenure of the policy the death benefit is provided to the beneficiary of the policy as basic sum assured along with vested simple reversionary bonus and terminal bonus ifDeath Benefit - In case of uncertain demise of the insured person during the tenure of the policy the death benefit is provided to the beneficiary of the policy as basic sum assured along with vested simple reversionary bonus and terminal bonus ifdeath benefit is provided to the beneficiary of the policy as basic sum assured along with vested simple reversionary bonus and terminal bonus if any.

Term life insurance is defined as a contract between the owner of the policy and the insurer, for a policy on the life of the insured, whereupon the insured's death, the insurer pays a lump sum death benefit to the beneficiary.

In exchange for premium payments, a life insurance policy provides a tax - advantaged lump - sum payment, known as a death benefit, to the beneficiaries when the insured passes away.

Dear sir I am taking online plan but on company toll free no they tell me that in montly income plan policy we get sum assured at the insured person death & after that nominee also receive a monthly income for 10 years.

You make payments on the policy and, in return, the insurance company provides a lump - sum payment, also called a death benefit, to the beneficiaries you have chosen upon the death of the insured.

The insurance company pays out a lump sum death benefit to the beneficiary of the policy upon the death of the insured.

The cash value policy pays out a lump sum cash benefit upon the death of the insured for the benefit of the life insurance beneficiary.

Lump sum, where the life insurance company pays the total amount of the benefit in one single payment at the death of the insured

This type of life insurance policy allows those with disposable cash to pay a lump sum into a life policy for a death benefit that will be paid up until the insured dies.

Death Benefit: In case of death of the Life Insured during the policy term, the sum assured on death will be paid to the nominee which is highesDeath Benefit: In case of death of the Life Insured during the policy term, the sum assured on death will be paid to the nominee which is highesdeath of the Life Insured during the policy term, the sum assured on death will be paid to the nominee which is highesdeath will be paid to the nominee which is highest of:

Term Insurance: This type of policy guarantees the sum assured in case of death of the insured during the term of the policy.

In the event of death, diagnosis of an insured critical illness or an accidental dismemberment / paraplegia, a lump sum payment will be made based on your outstanding account balance up to a maximum of $ 25,000.

The reduced sum assured along with the accrued bonuses (if any for 5 years) will be paid on maturity or on death of the insured.

Life insurance policy is a contract between the insurers or insurance provider wherein a lump sum amount is promised as a death benefit to the beneficiary in the event of the policyholder's death, provided the policy was active and the premiums were paid till the insured's death.

Upon the death of the insured, the lump sum death benefit is paid income tax free to the policy beneficiary.

$ 500,000 Term Life Insurance Term life insurance is a financial security product that pays out funds in a lump sum upon death of the insured.

Lump - sum payments do not accrue interest: A $ 200,000 policy will pay out exactly $ 200,000 upon the death of the insured party.

In life insurance, the insurer agrees to pay the beneficiaries a specified sum (death benefit) to indemnify them for the financial loss resulting from the death of the insured.

Pays an additional lump sum death benefit upon insured's death if such death occurs by covered accident.

Most people are aware that life insurance companies usually pay out a lump sum death benefit upon the death of the insured.

In exchange for paying premiums on a policy, the insurance company provides a lump - sum payment (far in excess of what you paid in), known as a death benefit, to beneficiaries upon the insured's death.

Upon the death of the insured, the lump sum death benefit is paid income tax -LSB-...] Continue Reading

Endowment can also refer to a type of insurance policy that pays a lump sum upon the insured's death or after a specific term.

Life insurance guarantees payment of a specified sum of money on the death of the insured person.

Accidental death and invalidity: Offers a lump - sum payout to the insured for personal disability or to their survivors in the event of accidental death.

Life insurance is a contract where, in exchange for premium payments, a lump sum of money is paid upon the death of the insured person.

Tax deductions under Section 10 (10D): Under this section of the Income Tax Act, the amount of sum assured plus any bonus (i.e. the policy proceeds) paid on maturity or surrender of policy or on death of the insured are completely tax free for the receiver, subject of course to certain conditions.

Death Benefit is the sum paid to the beneficiary upon the insured's death irrespective of the cause of dDeath Benefit is the sum paid to the beneficiary upon the insured's death irrespective of the cause of ddeath irrespective of the cause of deathdeath.

Part of the sum assured is payable in the event of the insured person's death, while the rest is paid as a monthly income to the beneficiaries for 10 — 15 years.

Immediate financial support to the family In the unfortunate case of the death of the life insured, 100 % of the sum assured along with the accrued bonuses, if any, is paid to the nomineeA person or firm into whose name the policy is transferred in order to facilitate transactions, while leaving the customer as the actual owner..

The benefit provides a payment of Rs. 1 lakhs of the Sum Assured in lump sum to the nominee within 48 hours of death of the insured if the company has been duly notified.

Recurring payout option also allows the beneficiary to receive a lump sum benefit instead of regular monthly or yearly payouts anytime after the death of the life insured.

Life option — under this HDFC term insurance plan, the death benefit is paid in lump sum in case of unfortunate death of the life insured

In the event of the death of the insured, the insurance company pays the full sum assured along with survival benefits.

Income Option — under this HDFC term insurance plan, 10 % of the Sum Assured is paid in lump sum immediately on death of the life insured.

According to the plan, family / dependents of the life insured is / are eligible for a lump sum amount in case of death or critical illness, if applied for, of the life insured and during the term of the policy.

A lump sum amount equal to total Sum Insured is given to the family, in case of accidental death or permanent disability.

Accidents causing death of the insurer would be compensated by 100 % of the capital sum insured under the policy.

A term insurance plan which provides a lump sum in case of death of the insured.

The endowment without profit policies are also known as term insurance plans offer the nominee the sum assured only, upon death of the insured.

The policyholder may additionally choose the disability benefit option under which, in case of death or disability of the insured during the tenure of the plan, the aggregate of all future premiums is paid which can be availed immediately in lump sum or can be invested in the fund where it will attract market linked returns.

In the event of death caused due to accident or due to any consequence of injury within 12 Months post occurrence of accident is covered up to the full sum insured amount.

The nominee receives 10 % of the Sum Assured on the death of the life insured as a lump sum amount.

100 % of sum insured in case of accidental death and 200 % of sum insured if death occurs while traveling as a fare paying passenger on a common carrier.

On accidental death or permanent total disablement of the insured, 100 % of the capital sum insured shall be compensated.