Sentences with phrase «during payout period as»

The surrender value is equal to the Special surrender value which is equal to Special Surrender Value Factor x (Number of Premiums Paid / Total number of premiums payable) * (Sum of total benefits payable during payout period as described under the Maturity Benefit)

Option B - Income Protection Under this option, the Death Benefit shall be payable as Monthly Income (payouts made each month) to your nominee during the payout period as chosen by you at inception of policy.

Not exact matches

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

During the first two years of the policy, known as the contestability period, the carrier can dispute a payout if there's suspected fraud.

The waiting period begins as soon as your purchase a policy and, if you pass during that time, your beneficiary will receive a limited payout (return of premiums plus 10 - 30 % interest).

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

Bajaj Allianz, on an average pays 60 - 70 % higher claim payout as compared to a normal vehicle claim during festive period or a long weekend.

Deferral of Social Security income, say from age 62 to age 70, has a similar effect on payouts as in a deferred income annuity (another name for longevity insurance); mortality credits can accrue during this deferral period, say from 62 to 70.

Note: In case, the life assured passes away during the policy period, the insurance company pays the sum assured to the nominee as per the payout opted by the policyholder.

In the event of death during the payout period, regular instalments as per the Maturity Benefits will be paid to the nominee.

Maturity Benefit — If the Life Insured survives the maturity of the Policy with all premiums paid, they receive a Guaranteed Payout as a percentage of the Sum promised during the Maturity Payout Period, and 100 % of the Sum which is certain to be paid on maturity, is paid at the end of the 20th year.

Guaranteed Base Income (GBI), as a percentage of Sum Assured, accrues each year during the payout period.

Even during the Payout Period, you will have an option to receive the present value of the outstanding Survival Benefit as lumpsum (Commutation Option).

The Company provides an option to the policyholder on survival during the payout period or beneficiary in case of death of Life Insured (called Commutation option) to receive the present value of the outstanding survival and death benefit respectively as lump sum.

If you want to receive the outstanding maturity benefit as a lump sum at any time during the payout period, the discounted value @ 9 % per annum discount rate is payable.

If Mr. Raman survives till the maturity of the policy term, he receives Rs 1.94 Lacs is paid as annual payouts during the entire payout period.

Survival Benefit as guaranteed income every year is payable during the payout period.

He will receive income benefits of «12,00,000 during the payout period of 5 years, as below: