Sentences with phrase «first year premium»

The insurance company saves the commission (about 30 % of first year premium, 5 % after that on an average) that it would have otherwise paid to the agent.

In case the life insured commits suicide in first year the premium paid is returned and no claim is payable.

Here the return of premium excludes extra or rider premium along with first year premium.

Guaranteed Surrender Value: It is generally calculated as a % of the total premiums paid excluding first year premium and extra premium, if any.

• Qualified for company's leadership club convention within the first year, exceed first year premium average, ranked Top 40 in the company for sales in accident and health insurance.

The minimum amount guaranteed is equal to 30 % of annual premium paid less first year premium along with the entire vested bonus.

Guaranteed value is equivalent to 50 % of all premiums paid barring first year premium or any additional premiums paid in between.

Most carriers I've seen pay 90 - 110 % of first years premium!

With effect from April 1, 2012, Service Tax Rate has been changed to 3.09 % on first year premium and 1.545 % on subsequent year premium for traditional endowment & annuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date.

The insurer collected Rs 7,041 crore as first year premium in the last fiscal compared to Rs 5,386 crore in 2008 - 09.

Glancing at the stats of 2013 - 14, LIC accounts with more than Rs 90,000 crore i.e. 75.33 % in first year premium income and 84.44 % market share in the number of policies.

In April this year, the largest insurer Life Insurance Corporation's first year premium stood at Rs 4,173 crore, compared to Rs 2,113 crore in the corresponding month last year, translating into a growth of around 100 per cent.

For an example, let's say that the agent is paid a 60 % rate of commission on a whole life insurance product with first year premiums due of $ 4,000 (or about $ 333 per month).

Dad enquired and said if I surrender I lose first year premium and will get only 30 % of remaining premium I have two LIC policies: 1) New endowment, Enroll Date = 2014, Sum assured = 15L, Policy Term = 21 yrs, Premium = 69,000 yearly (Was 35,000 half yearly, but I made it to Yearly last year).

Policy Termination or Surrender Benefit: The policyholder is allowed to surrender the policy after completing 3 policy years if first years premium is fully paid.

So far I have paid 8 yearly premiums (including first year premium) and next yearly premium is due on 28th Oct 2016.

As the sales of new polices had dropped last year, the commission paid towards regular, single premium and first year premium declined.

«We have earned first year premium of Rs 288 crore during April - December period and expect to close the fiscal with premium collection of Rs 750 crore,» Future Generali Managing Director Deepak Sood told reporters after launching Sanjeevani Plus, a unit linked whole life insurance - cum - investment plan.

For example if you go for a policy with regular premium structure, an agent can get about 7 to 30 per cent of first year premium amounts and this is no mean sum by any standards.

Insurance21 Replied: 29-06-2017 11:13:29 Yes, 814 is an endowment plan and its premium will attract GST at the rate of 4.5 % on first year premium and 2.25 % on 2nd year premium.

It was a hard decision to make losing out Rs 45000 paid as first year premium.

There are some ULIP's which indicated that 100 % of first year premium paid would be the policy administration charges.

Bajaj Allianz Life Insurance today reported a 380 per cent jump in first year premium to Rs 860 crore in 2004 - 05.

Presently i have paid First year premium.

That salesman who hides behind the «financial advisor» title but is selling whole life insurance gets paid a huge commission (as high as 75 % of your first years premium!!)

Currently I have spent rs. 1,40,000 in this policy (all prem paid till date) and current value is Rs. 1,59,000 [while units are not allotted from the premium of first year, as first year premium will go as a Guaranteed maturity addition and 80 % value will be added in total fund value]

You can get guaranteed surrender value which is roughly 30 % of premiums paid excluding the first year premium.

For instance, the analysis below shows an updated estimate of the economic value of the policy, where $ 4,500 of cash value is available to cover all of the first year premium and part of the second year's as well.

This new year - long premium membership will feature exclusive early access to eight new operators that will be released alongside Seasons throughout the year, and equivalent VIP benefits as the first year premium membership, including a boost to allow players to unlock content quicker, headgear, battle dress uniform (BDU) and more.

In an annuity, first year premiums are any payments used to initially purchase the policy or that are paid during the first year.

First year premium of the life insurance companies rose by a marginal 1.4 per cent year during the first two months of the current financial year, according to data released by the Insurance Regulatory and Development Authority (IRDA).

According to industry sources, the industry mopped up first year premium of Rs 1.09 lakh crore in 2009 - 10 compared to Rs 87,108 crore in 2008 - 09.

With a first year premium of Rs. 99,556, the company made a modest beginning in 1950.

The first year premium of India's life insurance companies fell 3.9 per cent on year to Rs 7,346 crore in October dragged by private insurers, data compiled by the Insurance Regulatory and Development Authority showed.

Plus, by converting term life to a permanent life or universal life insurance policy, the new policy's first year premium could be reduced.

By these estimates, while an agent might make 30 - 40 percent of a term policy's first - year premium, they might earn 80 - 100 percent of a whole life policy's first year premium (which, remember, might have premiums that are 10 times as much as term).

Guaranteed premiums for one year, after the first year premiums, increase annually and are not guaranteed.

From what i know, a street rep gets 25 % of the first years premiums.

In terms of the volume of the first year premium, it has increased from Rs 44,332.40 crore to Rs 59,996.46 crore during the year 2009 - 10.

These are all payable against the first years premiums only.

New business performance by the corporation for nine months ended December 2017 has shown an impressive growth of 19.47 per cent with its first year premium netting Rs 99,783.33 crore.

The guidelines also added that the maximum expense, including commission, should not exceed 27.5 per cent of the first year premium in the first year, 7.5 per cent of the premium in the second and third year and 5 per cent in the 4th year and subsequent premium.

Kotak Mahindra Old Mutual Life Insurance Limited (KMOMLIL) is targeting 100 per cent growth in its first year premium income (FPI) in 2006 - 07.

Commissions for these agents are based on a percentage of the first year premiums (in some cases up to 110 %) and their job is sell these low quality policies to unsuspecting and vulnerable seniors.

Yes, any staff of the Reliance Life Insurance Company or any staff under the Anil Dhirubhai Ambani Group shall get a one - time premium discount of 10 % on the first year premium.

The motive wasto get 40 % commission on the first year premium and 7.5 % on the second year's premium.