Sentences with phrase «divided in equal installments»
In such a term insurance plan, in the event of death, the claim amount is divided in equal installments and paid over a fixed period of time.
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The death benefit can be availed in annual installments over a period of 5 or 10 years and the benefits will be equal to 1.04 times the death benefit divided by 60 (for 5 years) and 1.08 times death benefit divided by 120 (for 10 years).