Sentences with phrase «deceased policyholder»
The phrase "deceased policyholder" refers to a person who had an insurance policy but has passed away. Full definition
«The scheme has also confirmed that the estates of some 8,000 deceased policyholders have been paid and the process of identifying, tracing and contacting the estates of deceased policyholders continues,» Sajid Javid, economic secretary to the Treasury said back in May.
politics.co.uk
In life insurance, claim refers to the payment made by the insurer to the family of the deceased policyholder.
The death benefit feature of a life insurance coverage is generally treated as part of the estate of the deceased policyholder.
This means that the insurance company will pay the remaining mortgage payments on behalf of the deceased policyholder.
On death of the policyholder, the insurer invests the present value of all the remaining premiums at one go on behalf of the deceased policyholder, so that the maturity benefits accrue as planned.
Because of this combination, it provides a financial support for the family of the deceased policyholder any time before the maturity and a good lump sum amount at the time of maturity for the surviving policyholders.
Will a claim be rejected if the deceased policyholder had misrepresented some information in the form?
This unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders.
This combination provides financial support for the family of the deceased policyholder any time before maturity and good lump sum amount at the time of maturity for the surviving policyholders.