Sentences with phrase «nominee as a lump»

Option A - Lump sum Protection Under this option, the Death Benefit shall be paid to the nominee as a lump sum in the event of death.

In case of demise of the life insured when the dependent is alive 20 % of the sum assured + guaranteed bonus + terminal bonus if any is paid to the nominee as lump - sum amount and the rest 80 % of the sum assured is utilized to pay annuity for 15 years and life thereafter depending upon the age of the handicapped dependent.

Life Cover: If the policyholder dies during the policy term, the death benefits shall be paid to the nominee as a lump sum amount and future premium will be paid off and shall be paid by the company itself.

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

Not exact matches

Lazio bowed out without endorsing Paladino, who he lumped in with Democratic nominee Andrew Cuomo as «flawed individuals.»

As is obvious from its name, a lump - sum claim payout term insurance plan provides the nominee with a lump - sum, i.e. a one - time complete payout.

Opting for such a plan will ensure the nominees receive a lump sum benefit under the basic cover as well as regular monthly payments.

The nominee receives 10 % of the Sum Assured on the death of the life insured as a lump sum amount.

The nominee can avail the death benefit in lump sum or choose to receive the monthly Family Income Benefit of 1.5 % of the Sum Assured as and when it accrues, i.e. following the date of death of the insured till the end of the tenure.

In case the insured dies after the completion of first 5 years of the policy, the nominee of the policy receives the basic sum assured + accrued guarantee addition + simple reversionary bonus + final reversionary bonus (if any), which can be paid as a lump - sum or as an annuity, or as a combination of two.

The fixed amount paid by latter to the former is referred to as the premium payment and the lump - sum amount paid to the nominee in the event of the death of the latter if referred to as the death benefit.

In the event that something untoward happens to the policyholder, the insurance company pays out a lump sum, referred to as the «sum assured, to the «nominee» specified in the policy.

• On death of the annuitant, Death benefit2 is payable as lump sum to the nominee and no further amount will be payable.

Extra Life Option: Nominee receives a lump sum as well as an additional one - time payment in case of accidental death.

In the unfortunate event of his demise during the policy term, his nominee will receive a lump sum amount as death benefit.

Your nominee also has an option to take the Death Benefit as a lump sum benefit which is equal to outstanding monthly payouts discounted at 6.25 % per annum compounded yearly.

However, if the nominee prefers to have a lump - sum benefit instead of a staggered benefit, the remaining payouts are discounted at the rate 5.25 % per annum and will be paid as lump - sum immediately.

In case of an untimely demise of the life assured the nominee shall receive the rider benefit as lump sum.

6) His nominee receives the Purchase Price of Rs. 5 lakh -(Premium paid excluding service tax) as lump sum Death Benefit

Lumpsum: When one opts for lump sum payout option, the nominee receives the death benefit as lump sum one - time pay.

During premium payment term: The nominee or legal heir will receive the sum assured as a lump sum amount will be paid.

In this case, his nominee will immediately get Rs 1 crore as lump sum.

Lump - sum: When one opts for lump sum payout option, the nominee receives the death benefit as lump sum one - time Lump - sum: When one opts for lump sum payout option, the nominee receives the death benefit as lump sum one - time lump sum payout option, the nominee receives the death benefit as lump sum one - time lump sum one - time pay.

The nominee has the option at the time of claim settlement to take lump sum Death Benefits as the discounted value of outstanding instalments.

Full lump sum payout: Offers your nominee the basic sum assured in lump sum as specified in the policy schedule in case of an uncertainty.

This is a plan that provides the nominee with a lump amount as sum assured in case of the death of the insured.

In this case, his nominee will immediately get Rs 10 Lakh as lump sum payment.

There is a guaranteed sum assured along with bonuses which would be given in lump sum as the death benefit to your nominees.

You must be thinking that why shouldn't you opt for a term plan instead of a child insurance plan as it offers a high cover at a low cost giving out a lump - sum amount to the nominee.

The only way a nominee may benefit is if the annuitant dies without getting the purchase price back, the nominee will get the amount back, either as a lump sum or over a period of time.

In the same example as above, as an alternative, the nominee may choose to receive the first year's income as a lump sum i.e. INR 10 lakhs.

In case of policy holder's death while the policy is in force, the next of kin / nominee is liable to receive a lump sum equal to the death sum assured as per the policy agreement.

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:

Death Benefit: In case of death of the Life Insured during the policy term, the nominee receives the Death Benefit in a lump sum, which is computed as the highest of the following:

Your nominee also has an option to take the monthly payouts as a Lump Sum benefit at the time of claim settlement.

When you opt for a combination of payout under the income replacement term insurance plan, the nominee receives a part of a sum assured as a lump sum payout at the time of claim, and the rest of the money is paid in monthly installments.

Alternately, Jeevan's nominee has an option to take all monthly instalments as a lump sum at the time of claim settlement.

Scenario II: In the unfortunate event of his demise, his nominee receives a lump sum amount as Death Benefit.

In a lump sum term insurance plan, the nominee receives the sum assured as a lump sum amount, that is, the total payout of sum assured at once and the policy terminates.

In the event of the policyholder's death, the sum assured is immediately payable to policyholders» nominee or legal heir as a lump sum, along with the bonuses.

Death Benefits: If the insured passes away during the term of the policy, the nominee receives a lump sum Death Benefit, which is computed as the highest of the following:

The nominee has the option to take the sum assured on death as a lump sum payout or staggered payment, as per the terms applicable under the plan.

Life Insurance benefits are usually given to the nominees as a one - time lump sum, income benefit rider allows you the choice of distributing policy benefits in installments as a family income to the nominees.

In the event of the death of the life Insured, a lump sum amount equal to the Sum Assured is paid as a life insurance benefit to the nominee.

o Extra Life Option: This option provides a death benefit to the nominee, which is paid as lump sum on death.In the event of ACCIDENTAL death of the life Insured, the additional sum assured as Accidental Death Benefit is paid.

In the event of demise of Mr. Raman during the 8th policy year, a lump sum amount of Rs 5 Lacs plus Accrued Guaranteed Loyalty Additions is payable as the death benefit to the nominee.

The sum assured under the plan is paid as Lump Sum to the nominee as death benefit.

In a whole life insurance, the policy benefits are provided to the nominee as a one - time lump sum amount, but by choosing this rider, the nominee can exercise the option to receive benefits in installments as a guaranteed income.

o Basic Life Cover: In case of the unfortunate event of death, the sum assured is paid as Lump Sum to the nominee.