Sentences with phrase «nominee of the insured»

In the event of the death of the insured person 100 % of the Sum Assured will be provided to the legal representative or assignee or nominee of the insured person.

This bonus amount is also paid to the nominees of the insured in case the unfortunate comes to pass.

The nominee of the insured receives the money on death.

The nominee of the insured needs to intimate the claim to the insurance company by filling a claim form completely.

In other words, it will act as a financial support to the nominees of the insured person, when he is not around anymore.

These are simplest forms of life insurance policies designed to offer sufficient amount of monetary reimbursement to the nominees of the insured, upon the death of the insured.

These plans offer the promised sum assured along with periodic pay - outs that act as a pension to the nominees of the insured.

This is a dual death benefit plan under which a complete sum assured is paid in the first option and in the second option after death of the insured, the insurance company pays 50 % of the total sum assured immediately to the nominee of the insured and the remaining amount is paid monthly as a regular income at 3 %.

Term insurance is a type of life insurance policy wherein the nominee of the insured person gets death benefit if any uncertainty (death) occurs before the end of the policy term.

Under this policy, the insurer promises to pay a large sum assured amount to the nominee of the insured individual, in case the insured dies within the policy term.

Term Insurance is a type of life insurance in which substantial amount of financial reimbursement to the nominees of the insured incase of unexpected death or accident.

The death benefits are what are given to the nominees of the insured in case of the death of the insured party.

This is called premium, and if during this time the insured dies, the insurance company pays a guaranteed amount of money, known as sum assured, to the nominee of the insured.

The sum assured and all the bonuses are paid either to the insured on his or her survival at the endowment term end or to the nominees of the insured in case of his or her death.

The nominee of the insured is paid a monthly income in some term plans for a specific number of years.

Lump sum payout involves the insurance company handing over the entire cover amount to the dependent family members / nominees of the insured.

And, if the insured commits suicide, within 1 year of plan renewal, then the higher of the Surrender Value and 80 % of the premiums paid till death shall be paid to the nominees of the insured.

In case the insured person dies without surviving till the maturity date, the nominee of the insured person would be paid the «Sum Assured on Death» + vested bonuses as Death Benefit.

If the death claim proceeds are not received by the nominee of the insured (assuming the policy is in premium paying status) then the entire purpose of premium payment and buying an insurance policy goes in vain.

Under this scheme, if the insured dies due to an accident, the nominee of the insured will get Rs 2 Lakhs as death benefit.

Accidental Death (AD): In the event of Death due to an accident, the insurance company shall pay 100 % of the Sum Insured to the nominee of the Insured Person.

Death claim Settlement is the payment of claim amount by a life insurance company to the nominee of the insured.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) offers death coverage of Rs. 2, 00,000 (2 lakh) which will be offered to the nominee of the insured person.

During the payout period, RMI will be payable to the nominee of the insured member and will increase each year by 5 % p.a. compounded yearly.

Under this scheme, if the insured dies due to an accident, the nominee of the insured will get Rs 2 Lakh as death benefit.