Sentences with phrase «of a lapsed policy»

If the life insured dies due to suicide within one year of plan commencement or within one year of revival of a lapsed policy, 80 % of the premiums paid are refunded.

The policyholder can apply for reinstatement of the lapsed policy within two years from the due date of the first unpaid premium («Reinstatement Period»).

Unlike Reliance, Kotak Premier allows renewal of a lapsed policy within a period of two years from the first unpaid premium.

Had the individual purchased permanent life insurance, he or she could have access to a potentially significant source of supplemental retirement income in the future (depending on the policy type), while preserving the death benefit in perpetuity (note, however, that the death benefit and cash value of a policy is reduced in the event of a loan or partial surrender, and the chance of lapsing the policy increases).

Had the individual purchased permanent life insurance, he or she could have access to a potentially significant source of supplemental retirement income in the future (depending on the policy type), while preserving the death benefit in perpetuity (note, however, that the death benefit and cash value of a policy is reduced in the event of a loan or partial surrender, and the chance of lapsing the policy increases).

In case of a lapsed policy, policy holder has an option to either reinstate the policy within 2 years and restore the benefits or surrender the policy and receive the Surrender Value, if any.

Revival of a lapsed policy is possible if the policyholder submits a written request for reinstatement within a timeframe of two years from the date of the first unpaid premium.

And the fact that break - in, today the simplest option available to renew your lapsed policy, is growing in popularity is borne by a bird's eye view of the numbers witnessed over the months of June, July, and August 2014: • The number of lapsed policies that were revived using break - in has shot up seven times within just three months of its launch (June — Aug 2014.)

However, you revive it within two years from the date of lapsing the policy.

You obviously have the option of lapsing the policy by stopping the premium payments.

The regulator has also asked the life insurers to report the matters on lapsations regularly to it,» The proceeds of the lapsed policies shall invariably be refunded to the policyholder after the expiry of the revival period or at any time after completion of 3 years term as and when demanded by the policyholder.

An inspection of the vehicle will be scheduled, after you provide the details of your lapsed policy on phone.

However, being a short - term plan, renewing it every year is not done zealously and many of us lapse our policies after only continuing it for a couple of years.

The motive is to encourage two - wheeler owners to renew their vehicles after 3 years, so that the ratio of lapsed policies can be minimised.

The restoration of a lapsed policy to in force status is called Reinstatement.

As many Universal Life policyholders faced the potential of lapsed policies, the insurance companies knew they needed to create a policy that had more guarantees built in.

Owners of lapsed policies who'd borrowed could face quite a hefty bill from the IRS.

If you have an insurance policy with a complete range of benefits, then the following tips may be helpful if you don't want to face the trouble of revival of your lapsed policy:

The renewal of lapsed policy can be done if the insured submits a reinstatement request within a period of 2 years since the date due for the payment of first unpaid premium.

Reinstatement: For reinstatement of a lapsed policy, you may need to submit some documents.

In case of a lapsed policy, policy holder has an option to either reinstate the policy within 2 years and restore the benefits or surrender the policy and receive the Surrender Value, if any.

Revival of lapsed policy is available under this policy within the two years of first unpaid premium.

The revival of a lapsed policy is possible if the policyholder submits a written request for reinstatement within a timeframe of two years from the first unpaid premium.

The revival of a lapsed policy is possible if the policyholder submits a request for reinstatement within a timeframe of two years from the date of the first unpaid premium.

One can get information on premium position, bonus, loan, revival of lapsed policies and the products which are offered by LIC.

The revival of a lapsed policy is possible if the policyholder submits a written request for reinstatement within a timeframe of two years from the date of discontinuance.

This section provides you with information on services related to online payment, revival of lapsed policy, claim settlement, policy servicing, grievance redressal etc..

The revival of a lapsed policy is possible if a written request is submitted by the policyholder within a timeframe of two years from the first unpaid premium.

Reinstatement of a lapsed policy is possible if the policyholder submits a written request for reinstatement within a timeframe of two years from the date of the lapse.

As purchasing a life insurance policy is very important similarly renewing your policy time to time and revival of lapsed policy is equally crucial.

The revival of your life insurance policy provides an option to extend the coverage, as the insurers can not decline the revival of your life insurance policy because the option of revival of lapsed policy is always present in the original policy document.

The renewal of the lapsed policy can be done anytime within 5 years from the date of unpaid premium.

The revival of a lapsed policy is possible if the policyholder submits a written request for reinstatement within a timeframe of three years from the date of the first unpaid premium.

Reinstatement of a lapsed policy is possible if the insured person is alive by submitting a written request for reinstatement within two years from the date of first unpaid premium.

When your insurance policy is lapsed, it is mandatory (as per the company policy of some insurers) that your vehicle needs to undergo a thorough inspection before the renewal of a lapsed policy.

The revival of a lapsed policy is possible if the policyholder submits a written request for reinstatement within a timeframe of one year from the date of the first unpaid premium.

The revival of a lapsed policy is possible if the policyholder submits a written request for reinstatement within a timeframe of two years from the date of the first unpaid premium.

The revival of lapsed policies is applicable only on Regular and Limited premium payment policies.

If the Life Assured commits suicide for any reason whether sane or insane within 12 months from the date of inception of the Policy or within 12 months from the date of Revival / Reinstatement of the lapsed policy, the company will not be liable to pay the benefits under the policy other than what is specified below:

One can mainly call to any LIC Customer Care Helpline Number to know about your policy status, premium payment status, bonus, loan facility & eligibility, revival of lapse policies and information about any LIC policy.

The revival of a lapsed policy shall take effect only after the same is approved by the Corporation and is specifically communicated in writing to the Policyholder.

Generally, if the revival of a lapsed policy is done within six months, then no medical declaration is required.

The revival of the lapsed Policy shall take effect only after We have approved the same in accordance with Our board approved underwriting policy and communicated to You in writing.