Sentences with phrase «of death of policy holder paid»

Insurance21 Replied: 01-12-2017 10:26:35 NO, It does not provide life insurance, in case of death of policy holder paid amount excluding GST is return in option 6 and 10 only.

Not exact matches

Life insurance pays money to beneficiaries after the death of a policy holder.

If you're not familiar a term life insurance policy is a contract that pays a specific amount of money upon the policy - holder's death.

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.

Life Insurance benefit: This is the sum assured that is paid on the unfortunate death of the policy holder.

In many of these cases, a term life insurance policy is often the most inexpensive choice and the full face value of the policy pays out on the policy holder's death.

But if the policy holder dies, and cause of death was related to a pre-existing medical condition, the policy may not pay out.

Because it is impossible to predict an annuitant's age of death, in some instances where a policy holder lives an exceptionally long life, they will receive significantly more than what they paid into it.

In many ways, indexed universal life insurance works in a similar fashion as most other types of coverage in that the policy holder pays their premium, and the net premium is then applied to the actual life insurance death benefit.

Survivorship / Second - to - Die Life Life Insurance covers two individuals (usually a married couple), and pays it's death benefit after the passing of the second policy holder.

Life insurance policies pay out after the death of the policy holder.

Life insurance is financial coverage that pays a specified amount of money to a chosen beneficiary upon the death of the main policy holder.

10 times of single premium paid (excluding Service Tax) + Loyalty Addition is payable as death claim amount, in case of death of the policy holder before completing 15 years or the maturity date of the policy.

In case of unfortunate death of the policy holder death risk commencement, only premium paid will be paid back.

Many people are worried about how their family members will pay the premiums after the death of the policy holder.

Premium, it is the amount paid to the companies for an agreed amount of time to ensure that beneficiaries receive the insurance claim after the death of the policy holder.

Traditionally, life insurance policies only pay out at the time of the policy holder's death.

Amount paid in the case of death of the policy holder or at maturity of a policy.

The family gets a lump sum upon the death of the parent, and the future premiums of the policy are paid by the insurance company on behalf of the policy holder.

Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder).

It defines life insurance «as a contract between and insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.»

Life insurance, or rather, standard life insurance, consists of a policy that is either permanent life insurance or term life insurance, with a death benefit paid to the beneficiaries upon the insurance holder's death.

Both types of insurance pay a lump sum of money to the beneficiary upon the death of the policy holder.

Life insurance pays money to beneficiaries after the death of a policy holder.

The life insurance suicide clause generally states that there will be no death benefit paid if the policy holder commits suicide within the first two years of the policy.

Permanent life insurance offers an insurance component that pays a stated amount of proceeds upon the death of the insured, while at the same time providing a cash value or investment component that accumulates cash value that the policy holder may withdraw or borrow against.

Policy holder has to pay the premium for the entire life until the event of death occurs.

In its most basic sense, life insurance consists of a policy holder paying a premium to an insurance company and in return, the insurance company paying out a death benefit to the beneficiaries of the insured if and when the insured passes away — provided that the policy is in force at the time of the individual's death.

The beneficiary is paid the lump sum amount on the event of death of the policy holder.

This term may be 1 or more years and the benefits are paid only in the event of death of the policy holder within the term of the policy.

Life insurance plans are essential as they compensate your dependents or the policy beneficiaries in the unfortunate event of the policy holder's death, provided he has been duly paying his premiums.

This means that a policy holder can use the cash value — or even a portion of the death benefit — while still alive for the purpose of paying medical expenses, long - term care costs, or other financial obligations.

In the event of a policy holder's death, life insurance can help to pay off a mortgage or other debts, cover funeral costs and related final expenses, replace lost income from the decedent, and pay for a child's future education costs.

In case of «Whole Life Plan'the policy holder is obliged to pay a fixed amount of premium on a regular basis till the term of the policy, failing which will cease the death benefit payable under the policy.

Longevity annuities are like «reverse life insurance», meaning premium dollars are collected by the life insurance company by its policy holders to pay income when a policy holder lives a long life, instead of collecting premium dollars and paying a death claim on a policy holder's short life in ordinary life insurance.

This online term plan is designed to pay out the entire sum assured as lump - sum on death of the policy holder or on diagnosis of Terminal Illness.

[x] An insurance where there is an agreement between the insurer and the insured, where the insurer (insurance company) agrees to pay a certain amount of money in the event of death of the policyholder or to the policy holder after a certain period of time.

A whole life is a policy you pay till death of the policy holder and term life is a policy for a fixed amount of time.

Hello Liz, You are correct, as a California resident policy holder, in the very remote case of liquidation of Genworth, the California Health & Life Insurance Guarantee Association would pay as follows: Life insurance death benefit protection: 80 % of the policy death benefit up to a maximum of $ 300,000; However, as Chris mentioned in the article, our sincere expectation is that Genworth will not have to be liquidated nor become bankrupt, as we expect any number of other much better resolutions will occur.

Accelerated Benefits — If the policy holder is diagnosed with a terminal illness and have a life expectancy of only one year or less, half of the death benefit amount can be accessed in order to pay medical bills or other pressing needs.

Permanent life insurance is lifelong and only pays out upon the death of the policy holder.

Life insurance pays only on death of the policy holder.

Under type I ULIPs, in the event of death of policy holder, the insurance company pays only the higher of sum assured and fund value.

So, now that we know that term insurance plan pays only on death of the policy holder.

Life insurance is a contract between an insured (insurance policy holder) and an insurer, where the insurer promises to pay a designated beneficiary a sum of money (the «benefits») upon the death of the insured person.

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

There are many nice advantages that can be gained by owning a universal life insurance policy — including the fact that their holders have a great deal of flexibility regarding when and how much premium they pay (provided that there is enough cash in the cash value component to cover the cost of the policy's death benefit).

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.