Sentences with phrase «nominee of the insured person»

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.

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

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.

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.

Not exact matches

The person who is nominated to receive the benefits of the policy, in the event of Life Insured's unfortunate death before maturity date is called the Nominee.

Whole - Life Plan — insurance company collects premium from the insured till the retirement or the term of the policy and pays the claims to the nominees only after the death of the insured person.

When the insured person who is the parent faces death within the term of the SBI child plan, the Sum Assured is paid to his nominee which should not be lower than 105 % of the premiums paid during his lifetime.

In the event of the passing away of the person insured, the nominee receives the Sum Assured plus Guaranteed Additions as part of the Death Benefit.

In the unfortunate event of the demise of the person insured, the nominee receives the Sum Assured as the Death Benefit.

In the unfortunate event of the demise of the person insured, the nominee receives the Death Benefit.

In the event of the passing away of the person insured, the nominee receives the Death Sum Assured plus Accrued Reversionary Bonus.

Death benefit is paid as the total sum assured amount to the nominee of the policy in case of uncertain demise of the insured person of the policy.

Under this rider benefit the nominee of the policy receives the extra sum assured amount on top of basic sum assured amount in case of accidental demise of the insured person.

Nominee is the person selected by the policyholder to receive the benefit in case of death of the life insured.

If the insured person dies during the tenure of the policy, then the death benefit is paid to the nominee of the policy i.e. the child as the sum assured amount, which is 105 % of the total premium paid till demise.

A nominee is the person designated by the policyholder to receive the proceeds of an insurance policy, upon the death of the insured.

In case of death of the person insured anytime during the Policy Term, the nominee will receive Death Benefit.

In the absence of the insured person during the during the policy term, then death benefit is payable to the nominee.

However, if the insured person dies before the maturity of his / her endowment plan, the nominee will receive the sum assured (plus the bonus, if any) from the insurer.

it is important to know before taking policy becaz now a days after death of person so many life insurance companies rejecting death claim simply showing different logics / tactics which r not informed to life insured before taking policy not even mentioning in sales policy brochure & policy document which ultimately results laments to nominee.

On the demise of the insured person, the nominee of the policy receives the sum assured on death along with vested reversionary bonus and terminal bonus, if any.

Death by Suicide: In a case if the insured person commits suicide within 12 months since the inception, higher of acquired Surrender Value is paid or 80 % of premiums paid to the nominee.

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.

In the eventuality of the insured person passing away, their legal nominees get the full sum assured amount.

A nominee can be defined as a person who is eligible to receive the benefits out of a life insurance policy in the event of the demise of the insured during the policy period.

If the person insured commits suicide within one year of policy reinstatement when the revival has been done within six months from the date of discontinuance the Death Benefit is paid to the nominee..

In the case of insured person's death, his nominees shall receive the assured sum with bonus benefits throughout the plan term.

If the person insured commits suicide within one year of policy reinstatement when the revival has been done after six months from the date of discontinuance, the Fund Value is paid to the nominee

If the insured person commits suicide within a year since the policy reinstatement, then the nominee shall receive the highest amongst 80 % of the paid premiums or the Surrender Value.

Under regular or limited premium mode option, 10 times of the yearly premium or 105 % of the total premium paid till the time of the death of the insured person, is paid to the nominee of the policy.

Family care benefit — with sum assured being paid in case of demise of the insured person to the nominee.

Within the first year of the policy: If an insured person dies within the first five years of the policy and provided all the premiums are paid, the nominee will be provided with the Basic Sum Assured + accrued Guaranteed Additions.

For any reason, if the insured person expires during the term of the policy, then most likely it is the death benefit that gets paid to the nominee.

Under this option, an extra lump - sum benefit is offered to the nominee of the policy, in case of accidental demise of the insured person.

● Single Pay plan: If an insured person dies within the first five years of the policy and provided all the premiums are paid, the nominee will be provided with the Basic Sum Assured + accrued Guaranteed Additions.

In the case of the death of the insured person, the death benefits are paid to the nominee and the policy terminates.

In the event of the death of an insured person, the nominee of the policy would receive an amount called the sum assured which can then be used effectively to plan for their future.

In case an insured person commits suicide within 12 months of policy commencement, the nominee is entitled to 80 % the premiums paid.

If case of demise of insured person before policy maturity, the amount payable to the nominee is an assured sum of INR 50,000 / - under the Bhagyalakshmi policy.

It is an insurance plan which provides life coverage for a particular time period and the death benefit is payable to the nominee if the insured person expires within the term of the plan.

If the insured person dies within the period of the policy, the nominee gets insured amount.

For example, the Life Assured is the person whose life is insured by a Life Insurance policy and whose nominees will receive a pay - out in case of his / her death.

Now after 5 year's of the policy if the person is not in the job and does not have regular income and in case a claim is made on death of the insured, should the nominee prove that the person was earning that CTC at the time of death.Also please suggest a best term policy for 1 crore iam 38 yrs now and non tobacco user.Also is there any term policy which settles sum assured in case of permanent disability.

This payment is over and above lump sum payment on diagnosis of the illness and is paid to the nominee even after the death of insured person.

The insurance cover amount is payable to the nominee in case of death of the insured person during the term of the policy.