Sentences with phrase «master policy holder»

The master policy holder has option to choose higher sum assured also.

The Master Policy Holder in the case of an «Employer Employee Group» is the Employer and for other groups it would be the entity with members who would not have come together solely for the purpose of buying insurance.

Amount available in the account less the surrender charges and market value adjustment is returned to the master policy holder.

The Company buying the policy (Master Policy Holder) can save income tax on the premium paid under the Income Tax Act, 1961.

There will only be one master policy holder in any case.

Rest of the members clearly need to specify their relationship with the master policy holder, to be eligible.

Surrender benefit available on request either through master policy holder or individual members subject to premium payment of two years.

Ans: All cancellation request needs to be routed via Master policy holder only.

Another Rs 25 lakh penalty was imposed since Irda said the procedure adopted in issuing cheques favouring the Master Policy Holder was in violation of its group insurance guidelines.

b. to save administrative costs, there is often a Master Policy Holder who will retain the documentation on behalf of the members, and may deal with the members on behalf of the insurer

The Master Policy Holder of a Group Life Insurance Plan in the case of an «Employer Employee Group» is basically the Employer and for other groups would be the entity that has an insurable interest in the lives of its members.

For example, In India, broker procured group term insurance, unlike Canada, does not intrinsically have any price advantage to the buyer i.e. the Master Policy Holder.

All fulltime members are invited to join the Policy at the master policy holders» invitation.

Not exact matches

(i) no more than 25 of the certificate holders are Vermont residents; or (ii) the master policy covers one or more certificate holders who reside in Vermont, are employed at a workplace located outside Vermont and have obtained insurance coverage through the workplace;