Sentences with phrase «insured during the payout period»

Note: In case of death of the life insured during the payout period, the nominee can exercise an option to either continue receiving the Income Benefit and one — time Terminal Benefit or opt for the Commuted Value of the same.

On the death of the Life Insured during the Payout Period, the beneficiary will continue to receive the outstanding survival benefits (Income Benefit and Terminal Benefit).

In case of death of the life insured during the payout period, the guaranteed payouts are paid to the nominee till the end of the 17th year.

Not exact matches

In case of demise after premium paying term or during the payout period, the nominee receives the sum assured along with other benefits and the lump sum of payout left in the insured's account.

If the person whose life is insured passes way during the payout period, the nominee receives the balance outstanding payouts.

The insured has the option to change the account details before the payouts start or even during the payout period.

If the insured dies during said time period, the beneficiaries can claim the payout.

The policy is valid for a specific period of time, and the payout is only awarded if the insured dies during the active term.

Maturity Benefit — If the Life Insured survives the maturity of the Policy with all premiums paid, they receive a Guaranteed Payout as a percentage of the Sum promised during the Maturity Payout Period, and 100 % of the Sum which is certain to be paid on maturity, is paid at the end of the 20th year.

Even if the life insured (the parent or guardian) dies during the policy period, the policy continues and all the payouts are made on time.

Three types of Survival Benefit is paid if the person whose life is insured is alive during the payout period.

o Monthly Income Benefit: In case of death of the life insured during the policy term, the nominee is entitled to receive the monthly income that starts from the date of death till the end of the policy term, subject to a guaranteed payout for a minimum period of 36 months.

The Company provides an option to the policyholder on survival during the payout period or beneficiary in case of death of Life Insured (called Commutation option) to receive the present value of the outstanding survival and death benefit respectively as lump sum.

Pure Income Benefit Option: If the life insured survives during the benefit payout period (starts immediately after completion of the premium payment term till maturity of the policy), he / she will receive Annual Guaranteed Income, Special Additional Bonus, & Simple Reversionary Bonus.

Lumpsum fixed Payout is given to the insured on diagnosis of any of the 13 covered Critical Illnesses during the policy period opted.

In the event of death of the insured during the policy period, the payout is higher of 105 % of all premiums paid or the accumulated Fund Value.

This annual payout is guaranteed during the payout period, provided the life insured is alive and policy is in - force.