Sentences with phrase «event of the life insured»

Death benefit: This is the life insurance payout to beneficiaries in the event of the life insured's death.

The person who is nominated to receive the benefits of the policy, in the event of Life Insured's unfortunate death before maturity date is called the Nominee.

In case of an unfortunate event of the life insured's demise, the nominee will gets death benefit, which is the higher of the sum assured or the fund value at that time.

The plan's benefits, however, does cover family income benefits and future premium funding in the event of the life insured's death.

However, the plan ensures that 80 % of the premiums paid, without any interest, are returned to the nominees, in the event of the life insured committing suicide within one year of the insurance coverage commencement.

In the event of the life insured's death, the policy pays out the base sum assured and also waives future premium payments to ensure that that policy continues effectively.

Under this inbuilt benefit, in the unfortunate event of life insured being totally & permanently disabled during the policy term, all future premiums are waived off & the policy continues.

The death benefit payable to the nominee in the event of life insured's death during the policy period is Death sum assured which is higher of:

Not exact matches

Accelerated Access Rider Allows insured to accelerate a portion of their life insurance death benefit in the event they are diagnosed with a chronic or critical illness that meets certain eligibility requirements.

Protection for your group members — Death benefit is paid in event of death of the life insured by the company to the beneficiary.

In case of unfortunate event of death of Life insured (applicable even in case of minor lives), subject to the policy being in force the Sum Assured payable on death will be higher of:

3) Bharti AXA Life Premium Waiver Rider (UIN: 130B005V03): Under this rider in case of the unfortunate event of death, Total Permanent Disability or critical illness (in case of Policyholder) and Critical Illness (in case of Life Insured) the future premiums are waived off and the benefits under the policy will continue.

Accelerated Access Rider Allows insured to accelerate a portion of their life insurance death benefit in the event they are diagnosed with a chronic or critical illness that meets certain eligibility requirements.

Guaranteed Purchase Option Rider: allows the insured to purchase additional life insurance coverage with no evidence of insurability at specific ages or for specific events, such as marriage, buying a home and the birth of a child.

The accelerated death benefit rider pays out a significant portion of the death benefit in the event the insured is diagnosed with a terminal illness (12 - 24 months to live).

Get Higher of Sum Assured on Maturity or 11 times the base annualized Premium or 105 % of premiums paid till date of death, in case of an unfortunate event of death of the life insured.

In the event of the insured's death, a life insurance death benefit will be paid to the named beneficiary on the policy - provided a claim is filed.

In case of unfortunate event of death of the Life Insured during the Policy Term, the following benefits will be payable to the Claimant, subject to Policy being in force.

Mortgage Life Protection pays off the outstanding insured balance of your mortgage in the event of death.

In case of unfortunate event of death of Life insured (applicable even in case of minor lives), subject to the policy being inforce the Sum Assured payable on death will be higher of:

This «living benefit» allows the insured to receive 75 percent of the policy's face amount in advance — up to a maximum dollar amount of $ 750,000 — in the event of a terminal illness diagnosis that will likely result in death within 24 months.

But I like the idea of a small deferred annuity to insure against the extreme tail event of living into my 90s.

In the event of death of the Life Insured during the Policy Term, subject to the policy being in force, the Death Benefit payable shall be equal to the Sum Assured on death.

Life Insurance Benefit: In case of the unfortunate event of death of the life insured, the nominee will receive Higher of (110 % of Sum Assured for Money Back option and 125 % of Sum Assured for Endowment option) or 11 times the base annualized Premium to support your child in a time of nLife Insurance Benefit: In case of the unfortunate event of death of the life insured, the nominee will receive Higher of (110 % of Sum Assured for Money Back option and 125 % of Sum Assured for Endowment option) or 11 times the base annualized Premium to support your child in a time of nlife insured, the nominee will receive Higher of (110 % of Sum Assured for Money Back option and 125 % of Sum Assured for Endowment option) or 11 times the base annualized Premium to support your child in a time of need.

If you live in an area of increased risk it is important that your home insurance covers these events and that you have enough insurance (sum insured) to rebuild or have a total replacement policy.

In the event the insured meets certain criteria, the policy will payout a portion of the death benefit to the insured while living.

Life insurance policy is a contract between the insurers or insurance provider wherein a lump sum amount is promised as a death benefit to the beneficiary in the event of the policyholder's death, provided the policy was active and the premiums were paid till the insured's death.

Insurance Broking, including brokers» duties to clients on preparation of proposals, notification of insured events and other communications with underwriters; Underwriting decisions; Reports for insured parties and underwriters in cases where underwriters are seeking to avoid a policy; Disputes between insurers and reinsurers; and Personal insurance cover, including life and health insurance, residential property, PPI and motor claims.

Accidental death life insurance is an insurance policy that pays out benefits to your beneficiary in the event of accidental death of the insured.

In the event the insured dies and the policy lapsed within three years from the date of commencement (start) of the life insurance policy, then the insurance company is not liable to settle such claims.

Life Insurance: Coverage placed on the life of an individual whereas an insurance company issues a policy and pays a stated death benefit in the event of the insured's deLife Insurance: Coverage placed on the life of an individual whereas an insurance company issues a policy and pays a stated death benefit in the event of the insured's delife of an individual whereas an insurance company issues a policy and pays a stated death benefit in the event of the insured's death.

Pure Endowment A life insurance contract that provides payment only upon survival of the insured to a certain date and not in the event of that person's prior death.

Living benefits include policy loans, the right to make collateral assignments, and, in some cases, the right to take benefits in the event of the insured's terminal illness.

Since insurance rates generally depend on the likelihood of the insured event occurring, life insurance for young adults who are healthy will usually be considered a lower risk, and rewarded with a similarly lower rate.

Additional living expenses in the event you are temporarily unable to live in your home because of a fire or other insured disaster.

What's more important to your peace of mind than knowing your home and belongings are secure and knowing you are well - insured against life's unexpected events?

Face Value (also referred to as Face Amount) is the amount indicated in a Life Insurance policy which will be paid out to the beneficiaries in the event of the insured's death.

For example, a homeowner's insurance policy will normally include liability coverage which protects the insured in the event of a claim brought by someone who slips and falls on the property; automobile insurance also includes an aspect of liability insurance that indemnifies against the harm that a crashing car can cause to others» lives, health, or property.

The face value of an endowment policy will be given to the policyholder on the «maturity date» or to the beneficiary of the life insurance policy in the event the insured dies.

Common Disaster Provision — To further define who receives death benefits in the event of the simultaneous or nearly simultaneous death of both the insured and primary beneficiary, a common disaster provision can be included in a life policy by the policyowner.

The Uniform Simultaneous Death Act — Enacted in 1940 this act allows a court to decide which individual outlived the other in the event that the insured and primary beneficiary died in the same accident and no proof exists of who lived longer.

This HDFC life term plan provides a lump sum amount as the death benefit to the family in the event of death of the insured.

They help to secure the family needs and monetary goals if the insured party is unable to earn a living or in the unfortunate event of his demise.

The policyholder can nominate a person (the beneficiary) to receive the Death Benefit in the event of the demise of the life insured or make a change in nomination at any time during the tenure of the plan, provided the plan is in force, by submitting a written request to the insurance company.

LIC's e-Term policy is a pure life cover policy that provides financial protection to the insured's family in case of any unfortunate event.

In the event of an accident, the company will also reimburse the expenses incurred for purchasing of supporting items like, artificial limb, tricycle, wheelchair, stretches, crutches etc which in opinion of medical practitioner is necessary for the life insured.

As life insurance plans are considered to be legal contracts, the terms that are found within these contracts will essentially outline the limitations of the particular events that are insured.

Generally, the purpose of life insurance is to provide peace of mind by assuring that financial loss or hardship will be alleviated in the event of the insured person's death.

Accelerated death benefit - An optional provision in a life insurance policy that provides for a specified percentage of the death benefit to be paid prior to the insured's death in the event a doctor certifies that the insured's life expectancy is limited (usually 12 months or less).

In legal terms, life insurance is a contract between a policy owner and insurer, wherein the latter agrees to reimburse the occurrence of the insured individual's death or other event such as terminal illness or critical illness.