Sentences with phrase «nominee of a policy holder»

If the policy holder dies during the policy term, the nominee of the policy holder gets Sum Assured.

Under such circumstances, the nominee of the policy holder will be paid the sum assured of the term plan.

Yes, good option for policy holders (or rather nominees of the policy holder).

This has to be made by the nominee of the policy holder and the original copy of the policy has to be submitted when applying for the claim.

Not exact matches

3. - suppose policy life is 2 years and 9 month when policy holders dies... if nominee files for claim after 3 months... i.e. after 3 years of policy starting date.

Like Max's plan, Kotak's plan also has the option called «Recurring payout» wherein part of the claim is paid on policy holder's death and a fixed monthly / yearly amount is paid for next 15 years to the nominee.

Hence, child plans provide the nominee of the policy a death benefit in case of the unfortunate death of the policy holder.

Like any other Life Insurance, here also you will get assured sum after maturity and in case of death of the policy holder the nominee will be benefited by the amount.

Term insurance has garnered importance in recent times as it is a policy which provides a life cover for a definite period of time and benefits the nominee of the deceased policy holder in case of his / her death.

Aegon Life Easy Protect Insurance Plans - This type of plan helps the nominee to lead the same lifestyle even in the absence of the policy - holder.

On the Maturity date of the policy, the policy holder or the nominee are paid the Sum Assured with the Bonuses.

A Policy holder nominates a person at the time of filling up the proposal form wherein the nominee is entitled to the death benefits under this policy, on event of the demise of the Life AsPolicy holder nominates a person at the time of filling up the proposal form wherein the nominee is entitled to the death benefits under this policy, on event of the demise of the Life Aspolicy, on event of the demise of the Life Assured.

These repositories are required to maintain records of e-insurance accounts with an unique number, records of e-insurance policies issued and records of e-insurance policies converted back into physical form, index of policy holders and their nominees / assignees / beneficiaries in the respective life insurance policies, among others.

This means that one can opt from various options on how death benefit is provided to nominee in case of policy holder's demise.

In case the policy holder dies in between the term tenure, then the policy sum assured with bonus amount will be paid to nominee of the policy.

In simple terms, the Term insurance plan is one which provides risk coverage to the nominee in case of death of the policy holder without any maturity amount.

So, if the policy holder had an INR 1 crore coverage, in case of death due to an accident the nominee will get INR 2 crore.

In regular term plans, the entire Sum Assured is paid to the nominee in the event of death of the policy holder.

In life insurance, the policy holder's nominee will receive claim amount on death of the insured.

Term insurance is the purest and oldest form of insurance that provides payment of the sum assured to the nominee on the death of the policy holder.

Like Max's plan, Kotak's plan also has the option called «Recurring payout» wherein part of the claim is paid on policy holder's death and a fixed monthly / yearly amount is paid for next 15 years to the nominee.

LIC agent has approached me for new endowment plan for 16 years, sum assured Rs. 9,00,000, premium is Rs. 60,000 pa, maturity benefits is Rs. 21,24,187 after maturity if I opt for pension plan Rs. 16,197 pm till the death of policy holder at his death maturity benefit amount will be paid to nominee.

The other legal heirs of the policy holder can also recover money from the nominee.

All terms plans provide nominee the Sum Assured amount in the event of demise of the policy holder.

Option to select accidental death benefit where in case of death of policy holder due to an accident, an additional equal sum assured would be paid to the nominee.

The nominee comes into picture only after the death of the life assured (policy holder).

Offers protection against the repayment of loan liability by the nominee or legal heir in case of death of the policy holder.

Upon the diagnosis of terminal illness / death of the policy holder during the policy term, a lump sum benefit is paid out to the nominee.

If the policy holder dies, higher of the maturity sum assured 10 * annual premium or 105 % of premiums paid till death is paid to the nominee.

Under this plan, the policy holders, family members or the nominees named in the policy are entitled to avail the sum insured in case of injury, death, permanent disability, total or partial disability caused to the policy holder by an accident.

When the policy matures, the sum assured + accrued revisionary bonus + guaranteed additions will be payed to the policy holder or to the nominee in case of an early death of the life insured.

Life Option: Under this cover option, nominees assigned by the policy holder are paid the lump sum benefit upon the diagnosis of terminal illness or the death of the policy holder.

In addition, the nominee also gets the Income Benefit, which is 10 % of the Sum Assured, every year till the end of the policy term, from the date of death of the policy holder.

However, in the event of the policy holder's death, the nominee receives the sum assured.

The riders available of money back policy are as follows: • Critical Illness rider: This rider offers a guaranteed sum if the Insured is diagnosed with some critical illness including major organ failure, coronary diseases, different types of cancer etc. • Accident rider: In case the policy holder's unexpected death due to accident the nominee receives a sum assured • Disability benefit rider: This type is rider helps in case the policy holder is left paralyzed due to some major accident in his life.

The nominee in these policies are generally father or mother of the policy holder.

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.

Additionally, if the policy holder commits suicide within a year from the date of revival of the policy, the nominee will be entitled to an amount which is higher than 80 % of the premium paid or the surrender value.

Income Replacement Option: Under this cover option, nominees get regular monthly income upon the death of the policy holder.

In regular term life insurance cover, the nominee receives the entire sum assured in case of the demise of the policy holder.

Income Option: Under HDFC 3D Plus cover option, the nominees are provided with a lump sum benefit and also a fixed income upon the death of the policy holder.

An acquired Surrender Value or a higher of 80 % of premiums paid is provided to the nominee in case the insurance holder suicides within 12 months of policy revival.

Extra Life Option: Under HDFC 3D Plus cover option, all the benefits of live cover option are provided to the policy holder along with an additional Extra Life Sum Assured option is provided to the nominee in the event of accidental death of the policy holder.

Since Amulya Jeevan II is a pure insurance plan, the plan only offers death cover or death benefits which means that if the policyholder meets with death at any time during which the policy is in force then LIC will give to the nominee (s) of the policy holder's Amulya Jeevan II policy the sum assured on death amount.

In case of death of policy holder, the fund value accumulated till date will be paid to nominee in case death before the date of commencement of risk.

As it is a pure death risk plan the nominee gets the sum assured only on the death of the policy holder.

As per the above table, it is clear that premium for lesser term is more than that for higher term and total premium to be paid not to be confused with sum assured as it is minimum amount to paid to nominee in case of death of policy holder even single premium has been paid.

It provides you with a life — cover which means if an unfortunate event of death occurs to the policy holder his / her nominee will receive the sum assured.

Death Benefit: In case of unfortunate death of policy holder, the highest amount of below 3 will be paid to nominee

Life Cover - in the event of the demise of the policy holder, an amount equivalent to sum assured is given to nominee