Sentences with phrase «due premiums»

For single pay policies, surrender value is payable if you have paid all due premiums for three policy years.

There will be a grace period for payment of due premium of the policy.

If due premiums of the first three years are not paid within the Grace Period, the policy will lapse.

The amount of death benefit is reduced by the outstanding loan amount, accumulated interest, due premiums with Interest, the unpaid premiums in the year of death.

I understood the policy must be in effect for 2 yrs before paying in full but you are at least due the premiums back.

In general, it should only be one month of past - due premiums owed, as premiums are not charged after the plan was terminated.

If the payment is received late, the buyer is due a premium for the additional time his or her money is invested.

Grace Period: A grace period of 30 days is allowed for the payment of due premiums.

This policy acquires Surrender Value after payment all due premiums for at least three full policy years.

Lapse: Failure to pay three years of due premiums within the Grace Period will result in the policy lapsing.

Once the policy has acquired a surrender value, in case of non-payment of due premiums till the expiry of the grace period, the policy will not lapse but will become Reduced Paid Up (RPU).

Sum Assured plus Vested Bonus plus Terminal Bonus, if any, if you have paid all due premiums under your policy.

Most companies, at the end of the grace period when the policy is lapsed and no coverage exists, will send another letter and offer a chance to simply pay the past due premium for a short period, usually another 20 or 30 days without requiring a reinstatement application.

Premium billing would start over as of the new effective date, and the insurance company was not allowed to require the person to pay up their past - due premiums from the previous plan.

In case of unfortunate death of the life insured, a Guaranteed Death Benefit (GDB) is higher of Sum Assured, 10 times of annual premium or 105 % of the premiums paid less unpaid due premiums.

If the policyholder does not pay due premium amount even within this time then after the grace period is over the policy lapses and can be only revived as per the rules and regulations and on the grounds of genuine reasons within two years of a policy lapse.

Once the policy has acquired a surrender value, in case of non-payment of due premiums before the expiry of the grace period

The policy acquires Paid Up Value if premiums are paid for a minimum of three policy years and no further due premiums are paid.

Bonuses are added to a policy in which due premiums are regularly paid.

Additionally, each claim - free year under Religare Health Insurance Policy fetches a considerable discount on the amount of the next due premium.

Special Revival - under this scheme the date of commencement of the insurance holder can be shifted and the insured person can pay only one due premium according to his / her age during revival.

While it is essential to stay invested in any ULIP through the policy term, there are options available in case they are unable to pay due premiums towards a policy due to financial emergencies: When premium payment is discontinued in the first five policy years the policy will be converted to a discontinued policy, and the discontinued fund value will be available to the customers at the end of the fifth policy year

Non forfeiture provision: States that if a policy has been in force for a minimum of three full years and subsequent due premiums are not paid, then the policy will have proportionately reduced sum assured along with vested bonus.

Lapse: Failure to pay two years of due premiums within the Grace Period will result in the policy lapsing.

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 premium.

Depending on the Maturity Benefit option chosen, benefits are paid to the life insured provided all due premiums have been paid and the policy is in - force.

Once the policy has acquired a surrender value, in case of non-payment of due premiums till the expiry of the grace period, the policy will not lapse but will become Reduced Paid - Up (RPU).

The amount payable as Death Benefit is reduced by the outstanding loan amount, accumulated interest and due premiums with interest, unpaid premiums in the Policy Year when death occurs (when Premium Frequency is other than Annual).

This policy acquires Surrender Value after payment all due premiums for at least three consecutive policy years.

If you have paid all due premiums under your policy, you will receive the Survival Benefit as Money Backs on each due date and the Maturity Benefit on the maturity date.

Also ask them to send you a copy of all correspondence concerning the payment being late and the policy being near lapsing and then lapsing and any correspondence concerning reinstatement for past due premiums.

In case of death during the Grace period, the Death Benefit after deducting the unpaid due premium shall be paid.

If your health insurance company has clearly described (in paper or electronic form) the consequences of non-payment on future enrollment prior to your loss of coverage for non-payment of premiums, they may, in order to complete your enrollment, require you to pay any past - due premium amounts you owe them for coverage in the past 12 months.

If your policy was canceled for non-payment of premiums in 2017 and you re-enroll with the same insurer (or another insurer owned by the same parent company) during open enrollment, the insurer will be able to require you to pay your past - due premiums before effectuating your new coverage.

The Paid - Up Value is acquired if premiums are paid for at least three policy years, and no further due premiums are paid.

During these days, the policy will be valid and any claims will be subject to deduction of due premiums.

Maturity Benefit: In case the Life Insured survives till maturity and all due premiums have been paid till the date of maturity, Maturity Benefit will be payable to the Policyholder as Sum Assured on Maturity equal to the chosen Sum Assured.

Savings through Maturity Benefit: At the end of your policy term, you will get Sum Assured on Maturity provided all due premiums have been paid and policy is in - force.

The life insurance benefit will be payable to nominee, in event of unfortunate event of death of Life Insured before the age of 85 years, subject to policy being in force and all due premiums have been paid.

In case of occurrence of any of listed Critical illness, the Benefit (as chosen during inception) will be payable to you as a lump sum amount, irrespective of the death benefit payout option chosen, subject to policy being in force and all due premiums have been paid.

2) Guaranteed Additions: Subject to the Policy being in force and all due premiums being paid, Guaranteed Additions, equal to 10 % of the Sum Assured shall accrue as per the schedule given in the table below:

Non-Guaranteed Annual Simple Reversionary Bonus gets accrued to the policy at the end of each year provided all due premiums are paid.

Death Benefit Payable: In the event of death, provided the policy is in force & all due premiums have been paid the death benefit will be paid out as equal annual instalments for 15 years or 20 years depending on the death benefit option selected by the customer.

In case if the insured fails to pay the premium on time then they can pay the due premium under the grace period of 30 days offered by the insurer.

Death Benefit: In case of death of the Life Insured provided the policy is in - force and all due premiums till the date of death have been paid during the policy term, the sum assured on death will be paid to the nominee which is highest of:

You start receiving guaranteed tax - free income after the completion of the Premium payment term, until Maturity, provided the policy is in force and all due Premiums have been paid.

In case of the death of the Life Insured during the grace period allowed for payment of due premium, the Death Benefit less the outstanding charges shall be payable.

In the event of the unfortunate death of the life assured during the policy term and if all due premiums have been paid, the above mentioned Death Benefit will be paid to the nominee in the form of lump sum.

In case this death is due to an accident and if all due premiums have been paid, an additional Sum Assured will be paid to the nominee in the form of a lump sum