Sentences with phrase «in event of death of policy holder»

This plan also provides you a guarantee of return of full purchase price in the event of death of the policy holder.

For a life insurance policy, Sum Assured is the minimum amount assured to the nominee (of the policyholder) in the event of death of the policy holder.

This is because in event of death of policy holder, the insurer needs to pay only Rs 30 lacs from its pocket.

In the event of death of the policy holder, the beneficiary will be paid Rs 50 lacs (higher of 30 lacs, 50 lacs).

In the event of death of the policy holder, the insurance company pays the sum of fund value or sum assured to the nominee / beneficiary.

Insurance company pays all the future premiums in event of death of the policy holder.

The nominee will get Rs 1 crore in the event of death of the policy holder.

The benefit of a mortgage life insurance is that in the event of the death of the policy holder, your family will receive benefits to pay on the mortgage.

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.

Do note proceeds from a life insurance policy in the event of death of the policy holder are exempt from income tax irrespective of what is mentioned above.

The sum - at - risk is the amount insurance company will have to pay from its own pocket in the event of death of policy holder.

If the policy has death benefit, in event of death of the policy holder, all the money paid as premium shall be returned to his family.

A term rider acts in similar manner as a term insurance policy i.e. a monthly income will be provided to the nominee in event of death of the policy holder before end of the policy term.

Case 1: Upon death of the insured Insurance policy proceeds received by the family members in the event of death of the policy holder is completely tax exempt under section 10 of income tax act.

Under type II ULIPs, in the event of death of the policy holder, the insurance company pays the beneficiary both sum assured and fund value.

In regular term plans, the entire Sum Assured is paid to the nominee in the event of death of the policy holder.

Under type I ULIPs, in the event of death of policy holder, the insurance company pays only the higher of sum assured and fund value.

There is no date of expiry like in a term life insurance and the death benefits will be received by the beneficiary mentioned in the policy only in the event of the death of the policy holder.

This term may be 1 or more years and the benefits are paid only in the event of death of the policy holder within 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.

Not exact matches

Term life insurance offers a fixed payout to the policy holder's beneficiaries in the event of his or her death.

This means in the event of the policy holder's death, a spouse would continue to collect payments until they pass away.

Life insurance policies provide both policy holders and their loved ones peace of mind that financial difficulties may be avoided in the event of a person's death.

Life insurance plans are essential as they compensate your dependents or the policy beneficiaries in the unfortunate event of the policy holder's death, provided he has been duly paying his premiums.

The Beneficiary can claim the insurer when the event of death of policy holder happens only in the insured period.

In the event of a policy holder's death, life insurance can help to pay off a mortgage or other debts, cover funeral costs and related final expenses, replace lost income from the decedent, and pay for a child's future education costs.

[x] An insurance where there is an agreement between the insurer and the insured, where the insurer (insurance company) agrees to pay a certain amount of money in the event of death of the policyholder or to the policy holder after a certain period of time.

In the event of the policy holder's death, the beneficiary will receive enough money to cover outstanding bills, burial costs and enough funds to maintain their current standard of life.

However, in the event of the policy holder's death, the nominee receives the sum assured.

Extra Life Option: Under HDFC 3D Plus cover option, all the benefits of live cover option are provided to the policy holder along with an additional Extra Life Sum Assured option is provided to the nominee in the event of accidental death of the policy holder.

In case of unfortunate event of death of policy holder, 10 % of sum assured will be paid on every policy anniversary till the policy maturity.

Life Insurance: It's a contract between the policy holder and insurance company, where the company promises to pay a stated death benefit in the event of death of a policyholder.

While in term assurance policy, benefit ispayable in the event of any eventuality of the policy holder, inpersonal accident policy benefits are payable when the insured isfatally injured on encounters unfortunate death.

In the event of eventuality of the policy holder, the beneficiary is the nominee to get the death benefit amount.

Because of death benefit, family of the policy holder receives all the returns in the event of demise of the policy holder.

The second option for the insurance policy seeker is to opt for the «Term Assurance» plan, under which the policy holder is eligible for an Endowment Assurance plan and the sum assured is paid in case of survival of the assured within the stipulated period, or in the event of his / her earlier death.

On the occurrence of insured event e.g. death in case of life insurance, Sum Assured is the guaranteed amount payable to the policy holder or her nominee, as applicable.

In case of death, nominee has to inform the branch of the policy holder within the 30 days of the event.