Sentences with phrase «nominee as a lump sum amount»

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

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

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.

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

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

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

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

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.

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.

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 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:

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

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.

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.

It provides a sum assured amount as a lump sum to your family or nominee that helps them attain financial independence, even when you are not around.

The Commuted Value is calculated by using a discount rate of 5.7 % per annum from the date of receipt of the request for opting commutation and it is paid as a lump sum amount to the policyholder or nominee.

In the event of the policyholder's death anytime during the policy term, the child / nominee receives the lump sum amount (death benefit) as promised at the time of purchasing the policy.

If something happens to you, your nominee will bepaid a lump sum amount, and ensures that your family can live withthe same standard of living as before.In Endowment policy, a periodic sum is received aspremium every month and a lump sum amount in case of suddendeath.There are many other insurance policies like Money Back LifeInsurance Policy, Group Life Insurance and Unit Linked InsurancePlan that can benefit you.

In the event of the policyholder's death anytime during the policy term, the nominee receives the lump sum amount as promised at the time of purchasing the policy.

In the event of the demise of the life insured, the nominee will receive the sum assured amount as a lump sum and the policy terminates thereafter.

In case of demise of the life insured during the policy term, the nominee is entitled to receive a Sum Assured amount as a lump sum payout.

In the event of the demise of the life insured, the nominee / legal heir will receive the sum assured amount as a lump sum.

In the event of demise of Mr. Raman during the 8th policy year, a lump sum amount of Rs 20 Lacs or above is payable as the death benefit to the nominee.

In the event of demise of Mr. Raman during the 3rd policy year, a lump sum amount of Rs 5.5 Lacs is payable as the death benefit to the nominee.

In the event of demise of Mr. Raman during the 15th policy year, a lump sum amount of Rs 10 Lacs or above plus guaranteed accrual additions is payable as the death benefit to the nominee.

This type of payout option allows the nominees to receive the portion of claim benefit as a lump sum and the remaining amount as installments in the form of a monthly or yearly income for a specified period of time depending upon the plan conditions.