Sentences with phrase «insured is payable to the nominee»

The sum Insured is payable to the nominee / s in the event of the Insured's death.

Not exact matches

In case of unfortunate death of the Life Insured, the Sum Assured on Death which is explained below is payable to the Nominee:

In case of death of the Life Insured during the Policy Term, the Sum Assured on Death will be payable to the Nominee or the Policyholder as the case may be, subject to Policy being in force.

Post maturity, if the insured dies at any age before he reaches 100 years of age, an additional benefit equal to the basic Sum Assured is payable to the nominee.

In case of death of the insured during the plan tenure, a death benefit which is higher of the minimum Sum Assured or 10 or 7 times the annual premium paid depending on the age of the policyholder is payable to the nominee subject to a minimum of 105 % of all premiums paid till the date of death

Term plans promise the insured a lump sum benefit which will be payable to his nominee if the insured dies any time during the term opted by him.

In case of death of the insured during the tenure of the plan, higher of the available Sum Assured as on the date of death or 10 times the annual premium or 105 % of all premiums paid till death is payable to the nominee

Thus, if the Life Insured dies within the policy tenure, the death benefit is payable to the nominee and nothing is payable on the maturity of the policy.

On death of the insured a benefit higher of the chosen Sum Assured or annualized premium multiplied by 10 or 105 % of aggregate premiums paid is payable to the nominee

In case of death of the insured during the tenure of the plan, the Sum Assured is payable to the nominee subject to a minimum of 105 % of all premiums paid till the date of death.

In case the insured member commits suicide whether sane or insane, within 12 months from the policy inception date or from the date of inception of the member under the group insurance scheme, whichever is later, then higher of 80 % of the premiums paid or surrender value in respect of concerned insured member is payable to the nominee / beneficiary.

In the absence of the insured person during the during the policy term, then death benefit is payable to the nominee.

Subject to terms and conditions of the master policy, the Death Benefit will be directly payable to the Master Policyholder to the extent of outstanding loan amount; Death Benefit amount in excess of outstanding loan amount (if any), will be paid to the nominee / appointee / legal heir of the Insured Member.

Sum Assured - The amount of money that is payable to the nominee in case of the unfortunate event of death of the insured is equal to 25 times the single premium paid

• On death of any insured group member during the policy term, the Sum Assured will be payable to the nominee / legal heir of that member

Lump sum benefit and monthly income at the increasing annual rate of 10 % is payable to the nominee if the insured dies during the term period.

Suicide exclusion under Death Benefit: - In case the insured member commits suicide whether sane or insane, within 12 months from the policy inception date or from the date of inception of the member under the group insurance scheme, whichever is later, then higher of 80 % of the premiums paid or surrender value in respect of concerned insured member is payable to the nominee / beneficiary.

While making the claims for the death benefits of the plan, the nominees to whom the benefits shall be payable based on sending a documented notice to the company about the death of the insured within 90 days of the claims arising.

On life insured's demise, higher of the basic sum assured or the fund value or 105 % of the total premiums paid is payable 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.

Death Benefit: If the Life Insured dies within the policy tenure, then the Sum Assured on Death + accrued Bonuses would be payable to the nominee

Reliance Family Income Benefit Rider — under this rider, if the insured dies or suffers total and permanent disability due to an accident, a monthly payout of 1 % of Sum Assured will be payable to the nominee until the end of the rider term or till 10 years whichever is later.

In case of death of the life insured within the policy tenure, the Sum Assured is paid to the nominee as death benefit and the policy terminates and nothing further is payable

Reversionary Bonus: This bonus is declared at the end of each year by a life insurance company for its various policies and added on to the total sum payable to the insured party on the maturity of the policy or to his or her nominees in case the insured does not survive the term of the policy.

In case of death of the insured during the plan tenure, a benefit higher of 105 % of all premiums paid including any top - up premiums paid or aggregate premiums paid including any top - up premiums compounded @ 1 % or the available balance in the Individual Pension Account is payable to the nominee

In the case of death of the insured before the date of the maturity, then the benefits of death that are payable to the nominees in a lump sum amount are as follows:

On death of the insured, higher of the fund value or 105 % of all premiums paid or total premiums compounded at 0.5 % - 3 % depending on the risk profile chosen, is payable to the nominee who can withdraw the entire amount or use the amount to avail annuity from the company

Death benefit: If the insured had died within the coverage duration, then the sum assured could be payable to their own family contributors or nominee selected by using the Iinsured had died within the coverage duration, then the sum assured could be payable to their own family contributors or nominee selected by using the InsuredInsured.

Death benefit: If the insured dies within the coverage period, then the sum assured may be payable to their own family or nominee.

o Option A: - Base: In the event of insured's unfortunate demise, the base sum Assured (less terminal illness benefit already paid) is payable to the nominee as a lump sum amount.

In case of unfortunate death of the life insured during the policy term, the sum assured as applicable shall be payable to the nominee.

o Pure Protection Option: In case of unfortunate demise of the life insured during the policy term, the death benefit (as applicable to the policy) is payable to the nominee.

o Income Plus Option: In the event of death of the life Insured the nominee receives 100 % of sum insured and additionally, a level monthly income equal to 0.5 % of the Sum Assured shall be payable for a period of 10 years.The monthly income can be opted as level or increasing at 10Insured the nominee receives 100 % of sum insured and additionally, a level monthly income equal to 0.5 % of the Sum Assured shall be payable for a period of 10 years.The monthly income can be opted as level or increasing at 10insured and additionally, a level monthly income equal to 0.5 % of the Sum Assured shall be payable for a period of 10 years.The monthly income can be opted as level or increasing at 10 % p.a.

In the event of unfortunate demise of the life insured within the policy term, the death benefit is payable to the nominee.

In the event of death of the life insured during the policy term, Entire Sum Assured plus the Guaranteed Additions accrued till date is payable to the nominee.

In the event of the untimely demise of the life insured, the sum assured is payable to the nominee.

In the event of death of the life insured during the term of the policy, the sum assured chosen is payable to the nominee, provided all due premiums have been paid in full.

On unfortunate demise of the life insured before the vesting date, the death benefit payable to the nominee is higher of the Fund Value as on the date of intimation of death or the Guaranteed Death Benefit.Guaranteed Death Benefit is 105 % of the sum of all premiums and top - up premiums paid till the date of death.

In case of an unfortunate demise of the life Insured during the policy term, Sum Assured on death is payable to the nominee along with a vested Compound Reversionary Bonus and Terminal Bonus (if any) provided the policy is in force.

In case demise of the life insured during the policy term, the death benefit is payable to the nominee as a lump sum amount.

In the event of the untimely death of the life insured during the policy term, the total death sum assured is payable to the nominee as per the variants opted and payout option opted.

In the event of death of the life insured before the date of maturity, but after the date of commencement of risk, Sum Assured on Death plus Vested Simple Reversionary Bonuses & Final Additional Bonus is payable to the nominee.

In case of an unfortunate demise of the life Insured during the policy term, Sum Assured on death is payable to the nominee along with a vested Compound Reversionary Bonus and Terminal Bonus.

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.

In the event of death of the life insured during the policy term, the Death Benefit as a lump sum is payable to the nominee, which is higher of the sum assured or single premium fund value Plus higher of top - up premium sum assured or top - up premium fund value, if any.

In the event of death of the life insured during the policy term, lump sum death benefit as Guaranteed Death Sum Assured (GDSA) is payable to the nominee.

Return of Capital - Annuity is payable as long as Life Insured is alive and then the remaining Capital would be returned to the nominee

If case of demise of insured person before policy maturity, the amount payable to the nominee is an assured sum of INR 50,000 / - under the Bhagyalakshmi policy.

On Death of the Life Insured during the Policy Term, lump sum Death Benefit equal to Guaranteed Sum Assured on Death (GSAD) will be payable to the nominee.

In case, the insured dies during the Policy Term, then a Death Benefit will be payable to the nominee and the policy would be terminated.