Sentences with phrase «due date of premium payment»

Description: With each premium payment a receipt is issued which indicates the next due date of premium payment.

Another perk is that you don't have to remember the due date of premium payment.

Will a cover get suspended soon after the due date of the premium payment?

But due to some extreme situation, if you miss the due date of premium payment and your policy lapses, then rather than panicking, you should look for the above available options and choose the best one for yourself.

Suppose the due date of premium payment is 1 July 2016, then he has to pay it by 16 July 2016 to renew or continue a policy in force without loss of continuity benefits, else his risk cover may lapse.

Universal life is considered to be more flexible than whole life in that the policyholder is able — within certain guidelines — to change the due date of the premium payment, based on his or her needs.

We like Gerber Life because they offer clients the flexibility of changing the due date of their premium payments based on individual needs.

Gerber Life offers you the flexibility to change the due date of your premium payments based on your individual needs.

Not exact matches

There should not be any dues in payment of premiums on date, in order for the renewal to take place.

With respect to effective dates other than regular effective dates, meaning retroactive or accelerated coverage effective dates resulting from enrollment under certain special enrollment periods (including birth and marriage), resulting from the resolution of appeals, or resulting from amounts newly due for prior coverage based on issuer corrections of under - billing, we considered a premium payment deadline of 10 - 15 business days from when the issuer receives the enrollment transaction.

Most concerns raised by commenters opposed allowing premium payments after the coverage effective date due to the uncertainty of payment for services provided after the coverage effective date if a premium is not paid and the enrollee is subsequently cancelled.

Enrollment requires written notification of the new Dependent's name, birth date, gender, and citizenship as well as payment of any additional premium due.

There is a grace period provision of 30 days after the due date for payment of your renewal premium.

A grace period provision is also defined within a life insurance policy that provided for a period of time, usually 30 or 31 days in which an insured must pay a premium payment beyond the date of which the premium is usually due, without losing coverage.

The provision of payment of 80 % of the premium will be applicable only if the LIC term plan is in force meaning that all the due premiums have been paid till the date of suicide.

If the chosen Benefit Payment Preference is Save - n - Gain under any of the plan option, in case of death or critical illness suffered by the insured during the tenure of the plan, the Sum Assured is paid to the beneficiary who is the child, all future premiums are waived off and 50 % of the premiums are paid by the company towards the plan and 50 % to the beneficiary on every premium due date and the plan continues.

The renewal of lapsed policy can be done if the insured submits a reinstatement request within a period of 2 years since the date due for the payment of first unpaid premium.

And, a grace period of 30 days is allowed on the failure of other premium payment modes from their due date.

Grace Period: The policy offers a limited period of time, i.e. 30 days since the date due for the payment of unpaid premiums.

With respect to effective dates other than regular effective dates, meaning retroactive or accelerated coverage effective dates resulting from enrollment under certain special enrollment periods (including birth and marriage), resulting from the resolution of appeals, or resulting from amounts newly due for prior coverage based on issuer corrections of under - billing, we are considering a premium payment deadline of 10 - 15 business days from when the issuer receives the enrollment transaction.

Grace Period is the time provided to the policyholder over and above the exact due date to make the payment for the renewal premium without lapsing the policy or reducing any of the policy benefits.

The court also held that because the insurer had previously accepted 22 premium payments during the grace period (a short period of time after the premium due date during which an insurer will still provide coverage if a premium payment is made) did not mean that it had waived its right to terminate the policy in this case, because the grace period had expired.On the 22 prior occasions, the payment was made during the grace period, but again, in this case, it had expired.

There is a grace period of 30 days from the due date for payment of limited premiums.

Grace Period You get a grace period of 30 days for Yearly, Half yearly and Quarterly Premium Payment Frequency and 15 days for Monthly Premium Payment Frequency from the premium due date to pay your missed premium.

A grace period of 30 days is provided by Kotak Life Insurance company in case you miss the premium payment due date.

This plan offers a grace period of 30 days from the premium payment due date in case of any modes of premium payment.

All you need to do is to ensure that you have paid all your due premiums on time and your policy is active on the date of payment of Loyalty Additions.

If you don't pay the premium on or before the due date, the company will provide you a grace period of 30 days to make the payment (in case of monthly premiums, the grace period is only for 15 days).

The policyholder may revive a policy by the payment of the due premium (s) at any time within a period of 30 days from the date of receipt of the revival notice but before the maturity date of the policy subject to satisfactory medical and financial underwriting.

Non-payment & late payment of premium In case the premium is not paid on the due date, the policy is considered as lapsed and the policyholder loses its benefits.

A grace period is an extended duration; of 15 days for monthly premium payment mode & 30 days for other premium payment modes, from the premium due date given to the life assured to pay his due premium.

Grace Period: A grace period of 15 days is allowed for policies under monthly payment mode and a grace period of 30 days is allowed for policies under all the other payment modes from the premium due date to pay the premium.

In case of monthly payment mode, the grace period is 15 days from the due date of the policy premium payment date.

Grace Period: If the insured fails to pay his insurance premium by the due date, then a grace period of 15 days is allowed for monthly premium payment mode and a grace period of 30 days is allowed for annual mode of premium payment.

On expiry of 2 years from the date of policy lapse due to the failure of premium payments, where the policy has not been reinstated and the policy has not acquired any Paid - Up value.

In case, any of the covered critical illness occurs, depending upon the selected coverage options, the Life Insured is paid the Sum Assured on Critical Illness, subject to Policy being operational on the date on which the critical illness occurs of the life insured and the payment of all the due premiums have been made.

It's quite a troublesome task to visit the LIC office / branch every time you want to check even the smallest of details related to your LIC policy — be it about premium payments, due dates or its status.

Grace Period: A grace period of 30 days from the due date of unpaid premium is permitted for the payment of premium without interest.

Payment in full amount equal to all the policy premiums due but unpaid till the effective date of renewal.

If the policyholder fails to pay the premium within the due date, then a period of 30 days is provided as a Grace period from the first due date (15 days for those who have opted for monthly mode) of premium payment.

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.

You can make the advance premium payment only 30 days before the due date of your active policy.

Grace Period: If the insured fails to pay his premium within the premium due date then he is allowed a grace period of 15 days for monthly premium payment mode and 30 days grace period in case of annual premium payment mode, failure to which the policy shall lapse.

Grace Period: The insurance company provides a grace period from the premium due date for payment of unpaid premium.

Grace Period: The insurance company provides a grace period from the premium due date for payment of unpaid premiums.

Keeping you away from the hassle of premium payments and remembering the due dates.

It is the extension in the number of days after premium payment due date during which the policyholder can make the payment.

Grace period: Offers a grace period of 30 days in case you miss the due date to make the premium payment in case of yearly, semi-annual and quarterly mode.

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.

However, one should be careful and avoid policy lapse which can occur by missing premium payments as there will be no insurance agent to remind you of your premium payment due date.