Sentences with phrase «due during the policy year»

If the death of the policyholder occurs during the grace period then the full sum assured will be paid to the beneficiary after the deduction of the premium due and all the premiums falling due during the policy year.

Less mortality charges and rider charges (if any) due during the policy year in which death occurs, which were not recovered already

Not exact matches

For example, if you purchased a 20 - year $ 500,000 level term policy, should you die at any point during the 20 year term due to a covered event (and have paid all premiums) the beneficiary would receive a $ 500,000 payout.

So as a result of the policies being pushed by Commissioner Stefan Pryor, Connecticut teachers and students spent thousands of hours during the past school year prepping and taking the Connecticut Mastery Test and state and local taxpayers spent tens of millions of dollars paying for the Connecticut Mastery Test but the man in charge of the entire testing scheme now says that «some of the more pronounced decreases in lower grades may be due to the shift to the Common Core curriculum... [and]... Students using the new curriculum haven't covered some of the areas in the test.»

During the first 10 to 20 years of coverage, a whole life insurance policy's cash value is quite small due to fees and the cost of coverage.

However, if the policy offers a graded or deferred benefit it can mean that death benefits are limited during the first few policy years or simply not covered if death is due to medical reasons.

According to the recent report out in Foreign Policy, and according to other eyewitness accounts and news reports coming in from coastal West Africa during recent years, sea level rise and increasing erosion due to powerful storms continue to produce worsening impacts for the region.

With these policies, if the insured passes away due to natural causes, the policy beneficiary can receive 25 percent of the policy's face amount in year one, and 50 percent of the face amount if the insured passes away during the second year of being covered by the plan.

This policy provides a graded benefit, which means that if death of the insured that is due to natural causes — in other words, death that is caused by means other than an accident — during the first two years in which the policy has been in force, the named policy beneficiary will only receive back all of the premiums that were paid in, plus 10 percent, as versus the face amount of the policy.

For example, if you purchased a 20 - year $ 500,000 level term policy, should you die at any point during the 20 year term due to a covered event (and have paid all premiums) the beneficiary would receive a $ 500,000 payout.

Term life policies provide coverage for a set number of years — and usually, during this time period, both the proceeds and the premium due will remain the same.

A graded death benefit means the product does not pay out for two years, accept in the event of an accidental death.So if you die due to natural causes during the first two years of the policy, the company will return your premiums paid.

Policy Lapse: If the insurance premium remains unpaid during the grace period in the first 3 policy years, the insurance policy lapses (together with riders) from the due date of the unpaid prPolicy Lapse: If the insurance premium remains unpaid during the grace period in the first 3 policy years, the insurance policy lapses (together with riders) from the due date of the unpaid prpolicy years, the insurance policy lapses (together with riders) from the due date of the unpaid prpolicy lapses (together with riders) from the due date of the unpaid premium.

REVIVAL PERIOD - If due premiums are not paid during the grace period, the policy may be revived during the Policy Term within a period of two years from the due date of first unpaid prpolicy may be revived during the Policy Term within a period of two years from the due date of first unpaid prPolicy Term within a period of two years from the due date of first unpaid premium.

If the policyholder is unable to pay the due premiums during the first five policy years, the policy shall be converted to a discontinued policy and the fund value will be transferred to a discontinued policy fund, wherein it will continue to earn applicable returns.

This Policy covers all types of deaths except death due to suicide during first Policy year or within one year from the date of revival.

Death benefit Option1: In case of death of the Life Assured, nominee will receive the following: Higher of Sum Assured or Fund Value or 105 % of total premiums paid Death benefit Option2: Triple Benefit Option In case of death of the Life Assured during the Policy Term, nominee will receive the following: Higher of Sum Assured or 105 % of total premiums paid + All future premiums due will be paid by the Company (additional savings benefit) + Amount equal to the annual premium will be paid every year to the nominee (Income Benefit).

You can, decrease any or all of the risk covers within the specified limit once in a year during the Policy term, provided all due premiums under the Policy have been paid.

The amount payable as Death Benefit is reduced by the outstanding loan amount, accumulated interest and due premiums or the unpaid premiums during the policy year in case of death.

The suicide clause in a life insurance policy simply states that during the first two years of the policy (one in some states) the policy does not have to pay if the death is due to a suicide.