Sentences with phrase «demise during the tenure of the plan»
Not exact matches
In case of death during the tenure of the plan, the Sum Assured on death is payable which will be higher of Sum Assured or 10 times the annualized premium with a minimum of 105 % of aggregate premiums paid till demise of the insured
https://www.policybazaar.com/
The policyholder can nominate a person (the beneficiary) to receive the Death Benefit in the event of the demise of the life insured or make a change in nomination at any time during the tenure of the plan, provided the plan is in force, by submitting a written request to the insurance company.
For instance, if you take a term plan with a Sum Assured of Rs. 1 crore for a term of 30 years and God forbid if you meet with an untimely demise during this tenure, your family will receive this amount as a lumpsum or regular monthly income, as the option selected by you.