Also, insurers undertake serious investigations
if the death of the policyholder occurs within two years of taking the policy.
If the death of the policyholder occurs during the grace period then the full sum assured will be paid to the beneficiary after the deduction of the premium due and all the premiums falling due during the policy year.
a) Death before date of commencement of risk:
If the death of the policyholder occurs before the date of commencement of risk then death benefit pay - out will be return of single premium excluding service tax and any extra premium paid without interest.
Not exact matches
An accelerated
death benefit allows a
policyholder to receive an advance
of the face amount
if diagnosed with a terminal illness and given less than twelve months to live.
If the
policyholder dies early in the contract lifetime the insurance carrier must finance most
of the
death benefit.
Term life insurance is a life insurance policy that provides a
death benefit to the
policyholder's beneficiaries
if that person dies within the specified «term»
of the policy.
If the
policyholder outlives the term
of the policy, however, the beneficiary will not receive a
death benefit.
Term life insurance is a type
of life insurance that only pays out a
death benefit
if the
policyholder dies within the term
of the policy.
Term life insurance pays a
death benefit to the policy beneficiary
if the
policyholder dies within the term
of the policy.
Term life insurance policies are temporary and only pay out a
death benefit to the beneficiary
if the
policyholder dies within the term
of the policy.
This is because with these particular policies, the
policyholder is able to essentially decide
if they want more
of an investment or larger
death benefit.
I.e.
if you just had the mortality info (number
of deaths each year), and the fact that M / F ratio has remained constant, what average - age would you estimate this set
of policyholders to have been in Jun 07, from the CDC tables.
...
if you have dependants you will only get one payout, usually on the
death of the first
policyholder.
If the
policyholder dies while the policy is active, the insurer pays out a tax - free lump sum
of money — the
death benefit.
If the
policyholder outlives the term
of the policy, no
death benefit is paid to their beneficiaries.
If the
policyholder dies within the term
of the policy — and the
policyholder has paid the premiums and the policy is in good standing — the insurance provider will pay a
death benefit to policy's named beneficiaries.
Over time, the savings component provided by the policy grows and the
death benefit shrinks;
if the
policyholder dies after the cash value
of the policy is fully realized, the entire amount paid comes from the cash value rather than the
death benefit.
If the
policyholder dies during the policy term, the
death benefit, a tax - free lump sum
of money, is paid out to named beneficiaries.
Term life offers coverage for a set period
of time and then expires, and pays a
death benefit to beneficiaries
if the
policyholder dies while the policy is in effect.
If, however, a
policyholder does remove cash from the policy — regardless
of whether it is through a withdrawal or a loan — any unpaid balance will be charged against the
death benefit proceeds.
In many cases a whole life insurance policy will provide some sort
of cash value — although that cash value is likely to be far less than the
death benefit that would accrue
if the
policyholder were to die.
With the accelerated benefit rider, the
policyholder can receive up to 75 %
of the
death benefit
if they have been diagnosed with a terminal illness or have been forced into moving to a care home.
Graded
death benefits means that
if the
policyholder dies
of natural causes (any cause other than an accident) during the first two years the beneficiaries will receive all premiums paid plus 10 percent.
Because term life insurance only pays out
if the
policyholder's
death occurs during the term
of their coverage period, policy premiums are generally lower than whole life insurance.
If your income increases, you may need to review the face value (the amount paid to beneficiaries at the
policyholder's
death)
of your life insurance policy.
During that time, the
policyholder pays an annual premium, and
if he or she dies within the period, a
death benefit is paid out to the beneficiaries
of the policy.
The
death benefit is referred to as the total amount
of sum assured together with the bonus (
if any) is paid to the beneficiary
of the policy in case
of any eventuality or uncertain demise
of the
policyholder.
If the life insured dies during the term
of this LIC online term plan chosen by him at the starting
of the plan, the
death benefit is paid which is equal to the Sum Assured chosen by the
policyholder at the time
of inception
of the policy
Over time, the savings component provided by the policy grows and the
death benefit shrinks;
if the
policyholder dies after the cash value
of the policy is fully realized, the entire amount paid comes from the cash value rather than the
death benefit.
Allows
policyholders to access a portion
of the total
death benefit
if the suffer a chronic illness and need the money to cover the costs
of treatment.
If the
policyholder survives till the completion
of the Premium Paying Term, the Sum Assured on Maturity is paid and in case
of death during this period, the Sum Assured on
death which is higher
of the Sum Assured on maturity or 11 times the annual premium is paid with the accrued reversionary bonuses.
Under the Lifetime Annuity with Return
of 100 %
of Purchase Price on diagnosis
of Critical Illness or
death, the annuity payouts cease and 100 %
of the purchase price is returned
if the
policyholder dies or is diagnosed with a critical illness before the age
of 85 years
On
death of the policyholder, Guaranteed Death Benefit + accrued Paid up Additions + Terminal Bonus, if any is
death of the
policyholder, Guaranteed
Death Benefit + accrued Paid up Additions + Terminal Bonus, if any is
Death Benefit + accrued Paid up Additions + Terminal Bonus,
if any is paid
If the
policyholder becomes terminally ill, the insured can access a portion
of the
death benefit.
If the
policyholder chooses the Save Benefit under any
of the plan option, then on
death or critical illness, the Sum Assured is paid to the beneficiary who is the child, all future premiums are waived off and paid for by the company and the plan continues.
The nominee gets to receive the
Death Benefit
if the
policyholder commits suicide within six months
of reviving the policy.
If joint life plan, on death of the first policyholder, the sum assured is paid out but the plan remains in force till the death of the second life or till the end of the policy term, whichever is earlier Additional sum assured is paid if the second life also dies prior to maturi
If joint life plan, on
death of the first
policyholder, the sum assured is paid out but the plan remains in force till the
death of the second life or till the end
of the policy term, whichever is earlier Additional sum assured is paid
if the second life also dies prior to maturi
if the second life also dies prior to maturity
If the
policyholder commits suicide is within six months
of renewal, the nominee is eligible to get the
Death Benefit.
On
death of the
policyholder, higher
of the basic SA on Maturity including Simple reversionary bonuses and Terminal Bonus,
if any, or 11 times the annual premiums subject to a minimum
of 105 %
of premiums paid is payable
So,
if a
policyholder had purchased a Colony Term universal life 10 policy, and then they decided five years after purchasing it that they wanted to have coverage for the remainder
of their lifetime, then the coverage extension feature would have allowed the insured to extend the
death benefit protection guarantee to either age 90, age 100, or 105 — and, this could occur without the need for the insured to provide evidence
of insurability.
In case
of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee After completing five policy years,
if it is surrendered, then there is no Surrender / Discontinuance Charges and the Fund Value is paid to the
policyholder and the policy will terminate immediately.
If you, the
policyholder, die within 2 years
of signing the policy, then all
death benefits will be forfeited.
In addition to higher premiums, insurance companies that issue guaranteed life policies protect themselves against risk in two additional ways: (1) by offering relatively low payouts, and (2) by typically not providing a
death benefit during the first two years after issuing the policy (
if the
policyholder dies during this time, the company issues a refund
of premiums instead).
If, during the policy term the
policyholder passes away, the nominees receive a
Death Benefit that takes care
of their financial needs in the absence
of the
policyholder.
Depending on the guaranteed life insurance policy and the company you acquire it from,
death benefit payments could be denied or forfeited
if the
policyholder dies within the first 24 months
of policy activation.
With today's mortality table, those clients
of good health might tend to exchange their policy to a new one in a practical way
of buying a lower premium rate while having more benefits on
death even
if the
policyholder is older compared to the previous policy being issued.
This type
of life insurance provides
death benefits
if the
policyholder dies during the specified term, such as 10, 15, or 25 years.
Even
if the
policyholder dies within the window
of policy coverage, your beneficiaries may still have to wait a probationary period
of 1 to 3 years before
death benefits are paid out.
If cash value growth falls below the minimum level
of growth needed to sustain the
death benefit, the
policyholder is required to put enough money back into the policy to prevent it from lapsing.
Term life insurance policies are temporary and only pay out a
death benefit to the beneficiary
if the
policyholder dies within the term
of the policy.