Sentences with phrase «final additional bonuses»
Besides, any simple revolutionary bonuses as well as final additional bonuses if any are paid off to the nominee.
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Maturity benefit: In case the policyholder survives the policy period, then the sum assured as the maturity benefit is paid along with any simple revolutionary bonuses as well as final additional bonuses.
These bonuses can be of different types like Simple Reversionary bonus, Loyalty addition, Final Additional bonus etc., So, traditional plans have two components i.e. i) Life cover & ii) Investment Component.
Under this LIC child plan, in case of death post the deferment period, the Sum Assured on death which is higher of 125 % of the chosen Sum Assured or 10 times the annual premium, vested simple reversionary bonuses and a Final Additional Bonus, if any, is paid subject to a minimum of 105 % of all premiums paid till the date of death
Under this LIC child plan, in case of death post the deferment period, the Sum Assured on death which is higher of the chosen Sum Assured or 10 times the annual premium, vested simple reversionary bonuses and a Final Additional Bonus, if any, is paid, subject to a minimum of 105 % of all premiums paid till the date of death
If the life insured survives the whole tenure of the policy, then the sum assured on maturity i.e. 40 % of the basic sum assured + simple reversionary bonus + final additional bonus (if any) is payable after the maturity of the policy.
In case of demise of the life assured, after the date of commencement of risk, the sum assured amount + reversionary bonus + final additional bonus is paid to the beneficiary of the policy.
Maturity Benefit - If the insured person survives the whole tenure of the policy, then the maturity benefit, i.e. the total sum assured amount + reversionary bonus + final additional bonus is paid after the completion of the whole tenure of the policy.
Death Benefit = Sum Assured on Death + vested Simple Reversionary Bonuses + Final Additional Bonus if any.
In case of survival till the policy end, one will get Basic Sum Assured + vested Simple Reversionary Bonuses + Final Additional Bonus, if any as maturity benefit.
(approx data for analysis purpose) The final Bonus amount will be = 0.055 X 1,00,000 X 25 = Rs 137500 / - So on maturity the total amount will be = Rs 100000 + Rs 137500 = Rs 237500 / - You will also get Final Additional Bonus (FAB) with this amount (if any).
Death benefit will be Sum Assured + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.
Maturity benefit (Benefits payable on maturity) = Basic Sum Assured + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.
LIC generally declares Final Additional Bonus if a policy term is more than 15 years.
Simple reversionary bonus (declared annually) and Final Additional Bonus (one - time) are not guaranteed.
In case of sudden death during the policy premium paying term, his / her family or nominee will get «Sum assured on Death» + vested Simple Reversionary Bonuses + Final Additional Bonus, if any as Death benefits.
Maturity benefit will be Sum Assured + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.
On maturity of the policy, the remaining sum assured amount, accrued reversionary bonus and the final additional bonus is paid to the insured.
Therefore, the Final Additional Bonus and the Simple Reversionary Bonuses, if any, must be paid under the policy on the maturity due date regardless of the survival of the Assured Life.
In the case of the demise of the policyholder, the policy must continue to take part in the profits up to the maturity date and the entire fixed Final Additional Bonus and Simple Reversionary Bonus, if any, must be payable on the maturity due date.
In case of death post the first 5 years, the chosen Sum Assured under the LIC pension plan including the accumulated Guaranteed Additions, Simple Reversionary Bonuses and Final Additional Bonus, if any till the date of death is payable to the nominee who can avail the death benefit whether in lump sum or annuity or partly in lump sum and partly in annuity depending on his choice
Maturity Benefit: The sum assured on maturity equals the basic sum assured along with Final Additional Bonus and Reversionary Bonus.
Bonus: This policy participates in the bonuses of the company and the policy accrues Simple Reversionary Bonuses and Final Additional Bonus
Maturity Benefit: On the Life assured surviving the stipulated date of maturity, Sum Assured on Maturity (40 % of the Basic Sum Assured) + Simple Reversionary Bonuses + Final Additional Bonus, if any, shall be payable.
At the end of the maturity period the Simple reversionary bonus and the Final Additional Bonus (if applicable) is paid out
The maximum maturity age as per the plan is 75 years If the policyholder survives till the maturity of the policy, then he would be entitled to the basic Sum Assured in addition to simple reversionary bonuses and Final Additional bonus (if any).
This policy participates in the profits of LIC and offers simple Reversionary Bonus and Final Additional Bonus, if any
On death after the first five years, basic Sum Assured + accrued Guaranteed Additions + vested Simple Reversionary Bonuses and Final Additional Bonus, if any is paid either in lump sum or in annuity or partly in lump sum and partly in annuity.
In case of demise of the policyholder during the term of the policy, then the death benefit which is equal to the summation of «Sum Assured on Death», Simple Reversionary Bonuses, and Final Additional bonus (if any) will be given to the beneficiary.
The fixed Final Additional Bonus and the Simple Reversionary Bonuses, if any, contained in the Death Benefit must be payable on the maturity due date.
On Maturity, 40 % of the base Sum Assured + vested simple reversionary bonuses + Final Additional Bonus, if any, are paid.
As a with - profit endowment assurance plan the policy accumulate profit made by LIC through the final additional bonus and simple reversionary bonus and these add - on bonuses are paid out at the termination of the maturity period.
Another form of bonus that may be declared and given by the company to the policyholder at the end of the policy period is the final additional bonus.
On death after the risk cover has begun, the Sum Assured (SA) on death + vested simple reversionary bonuses + Final Additional Bonus, if any, is payable subject to a minimum of 105 % of all premiums paid till death.
Thereafter, Simple Reversionary Bonuses and Final Additional Bonus are paid from the 6th policy year depending on the profit experience of the company
Bonus: This is a participating policy as the policyholder gets Final Additional Bonus and Simple Reversionary Bonuses.
On Vesting, basic Sum Assured + Guaranteed Additions + vested simple reversionary bonus + Final Additional Bonus, if any, is payable to the policyholder.
If all the regular premiums for decided term are paid with no balance premium, the Death benefit is calculated by adding following amounts: Death Benefit = Sum Assured on death + Vested simple Reversionary Bonus + Final Additional Bonus.
If the policyholder has paid all the premiums that is the full amount and survives till the end term of the policy than the Maturity Benefit will be included in the Sum quoted on the maturity plus the vested Simple reversionary benefits and the Final Additional Bonus if any is there will be added.
At the end of this policy, the final additional bonus may be declared if the person insured has paid all the premiums on time.
After the policy matures, maturity amount which includes 40 % of sum assured + Accrued Bonuses (vested Simple Reversionary Bonuses) + Final Additional Bonus (FAB — if any) will be paid.
Participation in Profits benefit: This plan is eligible to participate in corporation's profits and receive Simple Reversionary Bonuses or any final additional bonus when a claim is made either by death or maturity provided the policy is active.
Final Additional Bonus depends upon the year of policy maturity or the year in which it is claimed under Death of the policyholder.
Continuing the policy for more than 15 and 20 years, the policy holder will be entitled to get the Final Additional Bonus and the Loyalty Bonus.
Simple Reversionary Bonus and Final Additional Bonus: These are the technical terms to describe the share of profits of LIC that you get under this policy.
Benefit on Vesting would be provided under the policy in full force, on vesting an amount equal to the Basic Sum Assured along with accrued Guaranteed Additions, vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be made available to the Life Assured.
In addition to the above, vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall also be payable.
Final Additional Bonus (FAB) or Terminal Bonus: This is also another kind of bonus which is changing every year as per LIC declaration.
If Mr. Ashish survives as said in the first case, then he gets the maturity benefit as follows: Maturity Benefit = Sum Assured on maturity + Vested simple Reversionary Bonus + Final Additional Bonus.
On the successful completion of the term policy i.e. when all the due premiums have been paid, Sum Assured on Maturity along with vested reversionary bonuses and final additional bonus is paid.