Sentences with phrase «immediate claim payouts»

An immediate claim payout means that an insurance claim can be submitted even if a policyholder passes away immediately after getting a life insurance policy.

Not exact matches

This is a common misconception — no - fault insurance only allows all parties involved in the accident to claim their insurance payout for immediate medical treatment, while the insurers of the parties involved decide which company should be the one to pay the other company.

Recurring Payout Option: Under this payout option, the nominee receives 10 % of the sum assured on the death of life insured as an immediate payment once the claim is accepted.The balance amount of sum assured is paid either as monthly or yearly iPayout Option: Under this payout option, the nominee receives 10 % of the sum assured on the death of life insured as an immediate payment once the claim is accepted.The balance amount of sum assured is paid either as monthly or yearly ipayout option, the nominee receives 10 % of the sum assured on the death of life insured as an immediate payment once the claim is accepted.The balance amount of sum assured is paid either as monthly or yearly income.

This insurance comes either with immediate payouts (your claim will be paid even if you die directly after buying a policy) or deferred payouts (your claim will not be paid if a death occurs within initial 1 - 2 years (timing depends on the policy).