Sentences with phrase «nominee during the coverage period»
Can I change nominee during the coverage period?
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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.
God forbid, in the unfortunate event of your demise during the policy coverage period, your nominee would be paid ten times the annualized premium or 125 % of the Basic Sum Assured along with simple vested reversionary bonuses and additional final bonus.
This coverage will provide a benefit to the nominee, in the event the insured dies during the defined period.