Sentences with phrase «holder during the term of the policy»

In the event of the death of the policy holder during the term of the policy, the beneficiary can claim the proceeds of the death benefit.

It provides an insurance cover to the policy holder during the term of the policy and at the end of the term returns a handsome sum of money back to the policy holder.

Not exact matches

Should a policy holder pass away during the «term,» or time frame, of the policy being in - force, a beneficiary (or beneficiaries) will receive the death benefit proceeds.

Life insurance is an agreement between the policyholder and the insurance company to provide a predetermined amount to the policyholder's dependants in case of the holder's demise during the term of the policy.

Surrender Option & Surrender Value: Policy holders can surrender the policy at any time during the term of the pPolicy holders can surrender the policy at any time during the term of the ppolicy at any time during the term of the policypolicy.

Should a policy holder pass away during the «term,» or time frame, of the policy being in - force, a beneficiary (or beneficiaries) will receive the death benefit proceeds.

It is improper to deprive long term policy holders the value of the contract which they entered into with good faith fully expecting to be covered during the policy and to the maturity of the policy.

Money back policies are quite similar to endowment insurance plans where the survival benefits are payable only at the end of the term period, plus the added benefit of money back policies is that they provide for periodic payments of partial survival benefits during the term of the policy so long as the policy holder is alive.

If the policy holder dies during the policy term, the nominee of the policy holder gets Sum Assured.

Term Insurance is a type of life insurance only, a byproduct that implies financial coverage provided to the policy holder for a particular time period; if the insured dies during the term then death benefits are paid to the beneficiary but it ceases if one outlives the set term of the polTerm Insurance is a type of life insurance only, a byproduct that implies financial coverage provided to the policy holder for a particular time period; if the insured dies during the term then death benefits are paid to the beneficiary but it ceases if one outlives the set term of the polterm then death benefits are paid to the beneficiary but it ceases if one outlives the set term of the polterm of the policy.

These can provide policy holders with a way to access a percentage of the policy's death benefits during life in order to pay for expenses such as a medical or long - term care need.

Upon the diagnosis of terminal illness / death of the policy holder during the policy term, a lump sum benefit is paid out to the nominee.

Some, though not all, policies enable the policy holder to cancel the policy during the term of coverage.

Technically, term plans can be described as a contract between the person insured and the insurance company wherein the company agrees to payout the lump - sum amount, referred to as the Sum Assured if the policy holder expires during the term of the plan.

If the policy holder anytime during the plan term losses the policy documents or the documents get destroyed due to any reason, then on the policyholder's request, the company shall issue a copy of the policy documents which shall be duly endorsed to show the agreeable reasons of the document's loss.

In case of death of policy holder during the policy term, this policy provides 10 % of sum assured every year till maturity and on maturity it again provides 110 % of Sum Assured + Bonuses as maturity.

In case of unfortunate death of policy holder during policy term, this plan proivides 10 % of sum assured every year till maturity and again at competion of policy term maturity amount is also payable.

Term Cover: It refers to the tenure of a term insurance plan wherein the sum assured is only paid to the nominees if the policy holder passes away during the plan tenTerm Cover: It refers to the tenure of a term insurance plan wherein the sum assured is only paid to the nominees if the policy holder passes away during the plan tenterm insurance plan wherein the sum assured is only paid to the nominees if the policy holder passes away during the plan tenure.

In the event of death of the policy holder during the policy term, the policy holder gets the sum of Sum Assured, vested Simple Reversionary Bonus and Final Additional Bonus, if any.

In case of death of a policy holder during the policy term, future premiums are waived off and guaranteed annual payouts are payable to the nominee

The only exception is in case of demise of the policy holder during the policy term.

ON DEATH: During the policy term if policy holder dies LIC will give amount equal to the total amount of premium paid excluding all taxes and extra premium, If any shall be paid.

ON DEATH: In case of death of policy holder during policy term, 10 % of Sum Assured will be provided to nominee every year till one year prior to maturity, and On maturity, 110 % of Sum Assured + Simple Reversionary Bonus + Final Addition Bonus will be payable as maturity amount.

In case, policy holder expires during the policy term, within 5 years from the date of purchasing the policy then death benefit ie Basic Sum Assured on death (10 times of single premium amount) is payable to his nominee.

In case of death during policy term of the plan, Bonus up to year of death & FAB along with Sum Assured will be paid as Death claim to Policy holder's nopolicy term of the plan, Bonus up to year of death & FAB along with Sum Assured will be paid as Death claim to Policy holder's noPolicy holder's nominee.

In case of death during policy term, Death Sum Assured + Bonus up to year of death + FAB will be paid as Death claim to Policy holder's nopolicy term, Death Sum Assured + Bonus up to year of death + FAB will be paid as Death claim to Policy holder's noPolicy holder's nominee.

In case of death of policy holder during policy term, 10 % of Sum Assured will be provided to nominee every year till one year prior to maturity, and

Amulya Jeevan II, is a pure term insurance policy of LIC, which provides high life cover in case of unfortunate death of policy holder during policy term.

Insurance21 Replied: 30-03-2018 12:25:36 If the policy has been taken with premium waiver rider and proposer's death happens during premium paying term (for example 1 or 2 year after taking policy), then further premium will be waived off and all benefits will be paid to child (policy holder) at the time of money back and maturity.