Sentences with phrase «insured as lump»

In case of cancer, the insurer pays the sum insured as a lump sum regardless of the exact expense of treatment.

The insurer pays the sum insured as a lump sum which is, by any means, a great financial help during a crisis.

The company will pay the Sum Insured as lump sum on first diagnosis of any one of the following Critical Illness, provided that the Insured Person survives a period of 30 days from the date of the first diagnosis.

The nominee receives 10 % of the Sum Assured on the death of the life insured as a lump sum amount.

Not exact matches

So policyholders could insure themselves with one giant lump sum payment, as in my example above.

The Legalese A life insurance policy with a critical illness rider will pay out a lump - sum benefit to the insured if they are diagnosed with a covered critical condition (such as cancer, stroke, or a coma).

Term life insurance is defined as a contract between the owner of the policy and the insurer, for a policy on the life of the insured, whereupon the insured's death, the insurer pays a lump sum death benefit to the beneficiary.

In exchange for premium payments, a life insurance policy provides a tax - advantaged lump - sum payment, known as a death benefit, to the beneficiaries when the insured passes away.

This federally insured program allows you to receive up to $ 400,000 in one lump sum payment or as monthly payments for the rest of your life.

C = The taxable component of the lump sum calculated under sections 307 - 120 and 307 - 125 of the ITAA 1997, as if no deduction under subsection 295 - 485 (2) of the ITAA 1997 were allowed, after excluding the actual (if any) insured amount for which deductions have been claimed under sections 295 - 465 or 295 - 470 of the ITAA 1997.

Life insurance policy is a contract between the insurers or insurance provider wherein a lump sum amount is promised as a death benefit to the beneficiary in the event of the policyholder's death, provided the policy was active and the premiums were paid till the insured's death.

If the settlement provides for the payment of a lump sum in an amount offered by the insurer and, with respect to a benefit under the Statutory Accident Benefits Schedule that is not a lump sum benefit, the settlement contains a restriction on the insured person's right to mediate, litigate, arbitrate, appeal or apply to vary an order as provided in section 280 to 284 of the Act, a statement of the insurer's estimate of the commuted value of the benefit and an explanation of hoe the insurer determined the commuted value.

In exchange for paying premiums on a policy, the insurance company provides a lump - sum payment (far in excess of what you paid in), known as a death benefit, to beneficiaries upon the insured's death.

The plan will pay a lump sum amount to the insured person in case of a financial emergency, such as theft, pilferage or robbery.

The main difference between an endowment plan and term insurance plan is as follows - In case of term insurance plans, a lump sum is paid to the beneficiary if the Life insured dies within the maturity period.

The entire sum insured amount as a lump sum is received, thus helping to plan the treatment accordingly

Similarly, if the insured has a Rs. 5 lakh plan and is diagnosed with a specified critical illness, then he or she is entitled to receive an amount of Rs. 5 lakh as a lump sum

The nominee can avail the death benefit in lump sum or choose to receive the monthly Family Income Benefit of 1.5 % of the Sum Assured as and when it accrues, i.e. following the date of death of the insured till the end of the tenure.

This HDFC life term plan provides a lump sum amount as the death benefit to the family in the event of death of the insured.

In case the insured dies after the completion of first 5 years of the policy, the nominee of the policy receives the basic sum assured + accrued guarantee addition + simple reversionary bonus + final reversionary bonus (if any), which can be paid as a lump - sum or as an annuity, or as a combination of two.

For the loss of employment as a direct consequence thereof immediately permanently totally and absolutely in case of an accident, a lump sum equal to hundred percent (100 %) of the Capital Sun insured will be covered.

For the loss of employment as a direct consequence thereof immediately permanently totally and absolutely in case of an accident, a lump sum equal to hundred percent (100 %) of the Capital Sun insured will be covered in the plan.

For instance, If the sum assured is Rs 5 lakh and the insured suffers an eventuality, death or disability, as the case may be, the beneficiary will be paid out a lump sum of Rs 5 lakh.

Death Benefit - In case of the demise of the insured within the initial 5 years of the policy issued date (i.e. before the vesting date), a basic sum assured plus accrued guaranteed addition in paid to the policy beneficiary either in a lump - sum or as the annuity or as a combination of two.

Also, in case of the death of the insured, the lump sum offered to the beneficiary as death benefit is not taxable under section 10 (10D).

For a major stage cancer diagnosis, the entire sum insured or the indexed sum insured (whichever is applicable) will be paid as a lump sum amount, less any amount already paid up during the early stage diagnosis.

So, if the insured gets diagnosed with a critical illness during the policy tenure, he / she becomes entitled to get a fixed lump sum, as mentioned in the policy.

Term life insurance, as the name suggests, is a life insurance policy that covers a set number of years and would pay the lump sum death benefit to the beneficiary if the insured person died during the term of the policy.

Life insurance, such as Adjustable Complife, is purchased to pay a lump sum death benefit in the event of the death of the insured.

The lump sum death benefit is payable as long as the deceased worker was considered to be currently insured, which means they had at least 6 quarters of earnings covered by Social Security withholding during the full 13 - quarter period prior to their death.

In exchange for premium payments, the insurance company presents a lump - sum payment, known as a death benefit to beneficiaries upon the event of the insured's death.

Simply put, life insurance provides a lump sum payment (sometimes known as a death benefit) to beneficiaries in the event of the insured's death.

However, the insured will have an option to commute up to a maximum of one - third of the accumulated value as lump sum at the time of vesting.

Critical Illness Insurance, sometimes referred to as Specified Disease Insurance, is a type of insurance which provides a lump sum benefit if an insured is diagnosed with one of the conditions specifically listed in the policy.

With single premium whole, the insured pays a one - time lump sum as a payment for a lifetime of coverage.

The company's health insurance products consist of accidental injury insurance which provides benefits if insured is injured or dies from an accident; cancer insurance which assists in paying costs related to cancer treatment and recovery; critical illness insurance which offers lump - sum benefits upon the diagnosis of a critical illnesses, such as cancer, heart attack, stroke and kidney failure; heart / stroke insurance which pays indemnity benefits for a range of treatments, services and expenses in the event of a heart attack or stroke; hospital insurance which helps pay costs associated with hospital care, including emergency room visits; and Medicare supplement which protects against the expenses not paid by Medicare.

In case of insured's death, then the beneficiary will receive 20 times the monthly income chosen at time of inception as lump sum.

As the name suggests, in this case, the insured needs to pay only once a lump sum amount and gets coverage throughout the chosen policy period.

Upon diagnosis of as many as six diseases mentioned in the policy document, National Insurance Critical illness policy offers the total Sum Insured amount as a lump sum.

Life insurance is referred as death benefit as it provides lump sum amount to the beneficiaries, upon insured's unfortunate death.

In the event of Permanent Total Disablement of an INSURED PERSON as a result of an Accident that incapacitates him to follow his own / similar / any occupation, a lump sum amount equivalent to the PRINCIPAL SUM shall be paid (Deferment Period: 12 months).

The main deviation between an endowment plan and term insurance plan is as follows - In case of term insurance plans, a lump sum is paid to the beneficiary if the Life Insured dies within the maturity period.

So policyholders could insure themselves with one giant lump sum payment, as in my example above.

This is a plan that provides the nominee with a lump amount as sum assured in case of the death of the insured.

Also known as convalescence benefit or recovery benefit, this refers to handing out a lump - sum to the insured, post hospitalization.

In case of demise of the life insured when the dependent is alive 20 % of the sum assured + guaranteed bonus + terminal bonus if any is paid to the nominee as lump - sum amount and the rest 80 % of the sum assured is utilized to pay annuity for 15 years and life thereafter depending upon the age of the handicapped dependent.

On the maturity of the policy 20 % of the sum assured + guaranteed bonus + terminal bonus (if any) is paid as a lump - sum amount to the insured and the rest 80 % of the sum assured is utilized to pay annuity according to the chosen option (on the age of the handicapped dependent)

The lump sum amount is paid as maturity benefit to the insured after the completion of policy tenure.

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.

The critical illness benefit is paid as a lump - sum if the Life Insured survives for at least thirty days.