Sentences with phrase «insured than a lump sum»

These plans including the LIC»S single premium plan provides insurance cover of the policyholder which means that if any unfortunate incident takes place to the insured than a lump sum amount will be given to the family.

Not exact matches

A convalescence benefit is provided in the form of a lump sum amount if the insured person is hospitalized for more than 20 continuous days

This plan pays the insured 30 % (25 % in Connecticut and Michigan) of the policy coverage amount in a lump sum upon the occurrence of a terminal condition that will result in a limited life span of less than 12 months.

Terminal Illness Rider — This plan will pay out 30 % (in most states) of the death benefit in a lump sum if the insured is diagnosed with a covered terminal illness and is given a limited life span of less than 12 months.

If life insurance death benefits are paid to you in a lump sum or other than at regular intervals, include the life insurance death benefits in your gross income on your tax return only to the extent the life insurance death benefits are more than the amount payable to you at the time of the insured person's death.