Sentences with phrase «insured during the policy tenure»

This back - date policy will reduce the premium liability for the insured during the policy tenure.

Money back policies are the most expensive insurance options offered by insurance companies as they offer returns to the insured during the policy tenure.

On death or terminal illness of the insured during the policy tenure, the Sum Assured is given in equated monthly instalments for such time which will be equal to the term of the plan chosen.

In the event of death of the life insured during the policy tenure, the nominee will receive Sum assured on death plus Accrued Reversionary Bonuses plus Terminal Bonus.

On the demise of the life insured during the policy tenure, the sum assured as a single lump sum is paid to the nominee.

Not exact matches

Death Benefit - In case of uncertain demise of the insured person during the tenure of the policy the death benefit is provided to the beneficiary of the policy as basic sum assured along with vested simple reversionary bonus and terminal bonus if any.

In the event of the unfortunate death of the insured (parent) during the policy tenure, insurance companies often offer to waive the premium.

Furthermore, the insured receives back the accumulated premium, if the individual does not fall ill during the policy tenure.

Under regular premium paying option the insured can pay premium during the entire tenure of the policy.

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.

The nominees of the policy can claim death benefits from the insurer in the event of death of the insured during the tenure of the policy.

If the insured person dies during the tenure of the policy, then the death benefit is paid to the nominee of the policy i.e. the child as the sum assured amount, which is 105 % of the total premium paid till demise.

If the insured dies or suffers permanent disability, during the tenure of the policy, the beneficiaries will receive benefits to make up for loss of income or unpaid debts left behind.

A term plan pays a benefit only if the insured dies during the tenure of the policy.

The new framework projects that the health savings account will create a fund over 5 - 15 years and long - term health policies could carry tenure of 3 - 5 years to finance insured's healthcare expenses during their post-retirement years.

Increasing Term Assurance — an option under which the Sum Assured chosen at the time of inception of the SBI term insurance policy increases every year @ 5 % and on death of the insured during the SBI term insurance plan tenure, the Sum Assured as on the date of death is paid to the nominee

Term insurance is the simplest form of life insurance plan that offers comprehensive life coverage over a period of time and in case the insured person dies during the tenure of the policy, the guaranteed death benefit is payable to the nominee of the policy.

The insured can make a lump sum investment into his fund any time during the policy tenure except the last 5 years with the plan.

In case of early demise or in case of policy maturity of the life insured during the tenure of the policy but before the demise of the handicapped person, the benefit is paid partly in installments and partly in lump - sum.

• Income during lifetime: Money back policy ensures that the insured party receives a sum every few years (usually 5 years) after the completion of the policy tenure.

If the life insured dies during the tenure of the policy, then the nominated person receives the death benefit and this policy terminates

By opting for a long term insurance period, insured is protected against the possible rise in premium rates during the policy tenure.

In case of the demise of the insured person during the tenure of the policy, 125 % of the single premium paid or the sum assured, whichever is higher, is paid to the beneficiary of the policy, under single premium mode option.

In case of the insured party passing away during the tenure of the policy, the sum that will be paid to the nominees will be the sum assured and the bonus if any.

If the insured person dies during the tenure of the policy, the lump sum benefit will be passed on to the beneficiary.

Anytime during the entire tenure of the policy if the insured wants to change its financial priorities then the plan provides an option of unlimited free switches under which then he / she can change their financial plan with a facility of unlimited free switching.

In case of demise of the life insured during the tenure of the policy, provided all premiums are paid, sum assured on death plus terminal bonus plus vested bonus is payable to the nominee.

Certain plans will waive off the entire premium to be paid during the policy tenure if the insured person passes away.

During the tenure of the plan, if the life insured is diagnosed with any of the above critical illness, then the premium for the remaining policy tenure is waived off.

Policy Tenure: Term life insurance is usually for a period of 5, 10, 15, 30, or up to 75 years and death benefits are given only when the insured expires during the term of the pPolicy Tenure: Term life insurance is usually for a period of 5, 10, 15, 30, or up to 75 years and death benefits are given only when the insured expires during the term of the policypolicy.

This benefit will continue even if the Life Insured attains 18 years of age during the tenure of the policy.