Sentences with phrase «nominee of the policyholder»

The benefit of this plan is that nominees of the policyholders receive financial security and if the policyholder survives the policy term, he or she gets back all the paid premiums.

Life Cover: This is the most important benefit of life insurance where nominee of the policyholder gets a lump sum amount in case of an unfortunate death of the policyholder.

In case of death, the nominee of the policyholder receives the higher of the fund value or sum assured amount or 105 % of the total premiums paid.

The nominee of the policyholder receives the corpus accumulated over a period of time, till the death of policyholder.

It promises to give a lump sum amount to the nominees of the policyholder in case the policyholder dies.

Insurance companies also offer another less known way of giving sum assured to the family / nominees of the policyholder — annuity.

Financial protection is also provided to the nominees of the policyholders in the unfortunate event of the death of the life insured.

In the event of death of the insured, an ULIP like HDFC Progrowth Plus pays the higher of the life cover or fund value to the dependent family members / nominees of the policyholder.

• Death Benefit, here a sum of money equalling the amount assured will get paid to the nominee of the policyholder if the policyholder happens to experience an unfortunate sudden demise during the active period of the policy

The nominee of the policyholder or the policyholder himself (in case of total & permanent disability caused due to an accident) will not receive any benefit if the accident is caused due to any of the following circumstances.

The death benefit amount is given to the nominee of the policyholder on the occurrence of death due to any reasons after the 45 days of the cooling period clause.

Option 1: The nominee of the policyholder is paid basic life insurance cover along with accrued non-guaranteed reversionary bonuses and terminal bonuses, if any

If a policyholder of the Amulya Jeevan II Plan meets with death during the tenure of the policy, then it may apply to the beneficiaries or nominees of the policyholder the sum assured by the policyholder.

If the event of death of the life insured, whether sane or insane commits suicide within 12 months from the date of commencement of the policy or the revival of the policy, the nominee of the policyholder is entitled to receive the fund value as available on the date of death.

Suicide exclusion: In case of death due to suicide, within 12 months from the date of inception of the policy, the nominee of the policyholder shall be entitled to 80 % of the premiums paid.

On the unfortunate demise of the policyholder, the Purchase Price is paid to the nominee of the policyholder and the policy is terminated.

A few other companies like Bharti AXA General Insurance, Future Generali etc. also offer the same terms to the nominee of the policyholder in case of death.

Insurance21 Replied: 28-11-2017 19:13:06 In option 6, the purchase price is returned to the nominee of the policyholder in case of policy holder's death whereas in case of option 10, after policy holder's death his / her spouse starts getting same pension as long as he or she is alive and In case of spouse death nominee gets the purchase price returned..