Sentences with phrase «of death of the insured»

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

In case of death of the insured during the tenure of the plan, all future premiums are waived off and the plan continues.

Life insurance is a contract by which an insurance company agrees to pay a sum of cash or stream of payments in the event of the death of an insured person.

It does not provide any claim amount in case of the death of insured person due to self injury, or suicide or attempt to suicide.

Generally, amounts you receive under a life insurance contract paid by reason of the death of the insured are not included in your gross income; such proceeds are received tax - free.

In case of death of the insured member, apart from the scheme specific death benefit, fixed life insurance cover amount of Rs 1000 per member, shall also be payable.

The interest is paid only if the policy has completed its 2 years from the date of policy inception to the date of death of the insured.

In the unfortunate event of death of the insured within the term of the policy, the nominee (s) stands to receive the sum assured.

In the event of death of the insured before the completion of 5 years, the income benefit amount for the remaining years will be payable to the insured's nominee.

The documents needed generally include the birth certificate of the insured, residence information, policy numbers and the death certificate showing the date and cause of death of the insured.

Generally, if you receive the proceeds under a life insurance contract because of the death of the insured person the benefits are not taxable income and do not have to be reported.

You will also be glad to know that the policy offers a provision to receive complete benefits without paying future premiums, in case of death of the insured parent.

The risk taken by the insurer is the risk of death of the insured.

A group life insurance contract that protects a creditor in the event of death of the insured prior to their debt being fully paid.

This rider provides extra financial benefits to the nominee in case of death of the insured arising from an accident.

Life insurance provides protection against the financial consequences of death of the insured person.

It should be the responsibility of the insured and the beneficiary to alert insurance companies of the death of the insured.

In case of death of the insured individual during the policy term, the death benefit is paid by the company to the beneficiary.

In the incident of the death of the insured, such a plan will ensure the nominees don't fall on hard times and are able to meet all financial liabilities.

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

The plan provides comprehensive insurance cover to the borrowers of the institution and offers to pay off the principal loan outstanding in the event of death of the insured borrower.

A life insurance payout is usually paid within two weeks of the death of the insured person to the beneficiary listed on the policy.

In case of death of the insured executive, the firm receives a lump sum death benefit.

The nominees of the policy can claim death benefits from the insurer in the event of death of the insured during the tenure of the policy.

Any existing loans against your permanent life insurance policy will decrease the amount of the payout to the beneficiary at time of death of the insured.

The term «death benefit» means the amount payable by reason of the death of the insured (determined without regard to any qualified additional benefits).

Guarantee is applicable only when - From date of policy inception o the date of death of insured, the policy should have completed 2 years.

In case of death of insured due to an accident then beneficiaries are entitled to a higher compensation.

The nominee is entitled to get the Guaranteed Death Benefit under this plan in the event of the death of the insured during the policy term.

This rider ensures additional financial benefits to the nominee in case of death of the insured arising from an accident.

It protects the family or the beneficiaries in the event of the death of the insured person.

In case of death of the insured during the tenure of the plan, the death benefit payable depends on the applicable variant at the time of death.

Personal Accident (Only 50 % of the Sum Assured in respect of the death of the insured person below the age of 18 years)

This receipt does not provide absolute interim insurance (during underwriting) until the company acts on the application, but stipulates that the company will assume the risk of the death of the insured after the date of the application if it later approves the application or, more frequently, if the insured meets with the company's rules of insurability for the plan applied for as of the date of the application.

It is the type of insurance that protects your family, dependant or named beneficiary against the loss which might arise as a result of the death of the insured.

The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured.

Thereafter, a benefit of 0.4 % of Sum Assured is paid to the nominee every month following the month of death of the insured.

Life insurance that pays a benefit of the death of the insured which also accumulates a cash value.

The benefit provides a payment of Rs. 1 lakhs of the Sum Assured in lump sum to the nominee within 48 hours of death of the insured if the company has been duly notified.

So XYZ Life actually pays out a portion of the death benefit to the policy owner in advance of the death of the insured.

If any contract which is a life insurance contract under the applicable law does not meet the definition of life insurance contract under subsection (a), the excess of the amount paid by the reason of the death of the insured over the net surrender value of the contract shall be deemed to be paid under a life insurance contract for purposes of section 101 and subtitle B.

In case of death of the insured higher of the Sum Assured including the Guaranteed Additions, vested bonuses, terminal bonus, if any or the Guaranteed Maturity Benefit including the Guaranteed Additions, vested bonuses, terminal bonus, if any, or 105 % of all premiums paid till the date of death is payable to the nominee

Cover for expenses of repatriating the remains to India, in case of death of the insured overseas.

The nominee can avail the death benefit in lump sum or choose to receive the monthly Family Income Benefit of 1.5 % of the Sum Assured as and when it accrues, i.e. following the date of death of the insured till the end of the tenure.

The inbuilt benefits are applicable in case of death of the insured wherein an additional Sum Assured is paid in case of Accidental Death, total of the Sum Assured and Fund Value is paid in case of being diagnosed with a Critical Illness under the Critical Illness Benefit and 10 % of the Sum Assured is paid following the year of disability to the end of the term or 10 years whichever is lower in case of ATPD benefit.

-- The term «reportable death benefits» means amounts paid by reason of the death of the insured under a life insurance contract that has been transferred in a reportable policy sale.».