Sentences with phrase «of death of the policy holder»

It is a type of pure insurance plan where the beneficiary will get the benefit only in case of death of the policy holder during the policy term.

If the policy has death benefit, in event of death of the policy holder, all the money paid as premium shall be returned to his family.

In the event of the death of the policy holder during the term of the policy, the beneficiary can claim the proceeds of the death benefit.

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.

They are also determined by the insurance companies profits and experience with rates of death of policy holders.

In case of the death of the policy holder how will the insurance company pay the benefits.

In case of unfortunate event of death of policy holder, 10 % of sum assured will be paid on every policy anniversary till the policy maturity.

Term life insurance plans ensure that the beneficiaries or the claimants are eligible to receive a lump sum amount as the death benefit in case of the death of the policy holder.

Traditional / Endowment Insurance Product: Traditional Endowment Insurance products are designed to provide lump sum money on the maturity of the policy or on unfortunate event of death of policy holder before the maturity.

The IUL is a contract that has a named beneficiary and as a result the death benefit is paid out within days or weeks of the death of the policy holder.

The Beneficiary can claim the insurer when the event of death of policy holder happens only in the insured period.

In addition, the nominee also gets the Income Benefit, which is 10 % of the Sum Assured, every year till the end of the policy term, from the date of death of the policy holder.

As per the above table, it is clear that premium for lesser term is more than that for higher term and total premium to be paid not to be confused with sum assured as it is minimum amount to paid to nominee in case of death of policy holder even single premium has been paid.

Endowment plan — This plan differs from term plan only in one aspect, the endowment plan makes a pay out in case of death of policy holder as well as in case of the maturity of the plan term.

As explained above, first the company pays at the time of death of the policy holder and because of its Waiver of Premium (WOP) feature it continues to invest in the fund on the behalf of the policyholder.

you have not considered that entire sum assured will be given to nominee in case of death of policy holder dies any time before maturity without deducting the survival benefits already 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.

A term rider acts in similar manner as a term insurance policy i.e. a monthly income will be provided to the nominee in event of death of the policy holder before end of the policy term.

ON DEATH: In case of death of policy holder during policy term, 10 % of Sum Assured will be provided to nominee every year till one year prior to maturity, and On maturity, 110 % of Sum Assured + Simple Reversionary Bonus + Final Addition Bonus will be payable as maturity amount.

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.

Hi Vipul, on maturity of ulip for Type 2 option on a ulip do you get funds value + sum assured or is it only in case of death of policy holder.

In case of death of the policy holder, the company waives off the insurance premiums as well.

Like any other Life Insurance, here also you will get assured sum after maturity and in case of death of the policy holder the nominee will be benefited by the amount.

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

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

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

Life insurance is primarily a policy that provides adequate financial support to the beneficiaries (could be one or more) of the policy in case of the death of the policy holder.

The main benefit is the provision of finances in case of the death of the policy holder.

Under type II ULIPs, in the event of death of the policy holder, the insurance company pays the beneficiary both sum assured and fund value.

Offers protection against the repayment of loan liability by the nominee or legal heir in case of death of the policy holder.

Death Benefit: In the event of death of the policy holder, during the term of the policy, provided all premiums are paid, the death benefit or the sum assured on death together with final additional bonus and simple reversionary bonus is paid out to the nominee.

In case of the death of the policy holder, all future premiums will be waived and a lump sum amount will be paid out

If I have to say in simple terms, a term plan is nothing but an insurance policy under which a family will get the lump - sum benefit in case of death of policy holder.

In case of death of the policy holder during the policy term, the Death Benefit which implies the Sum Assured on Death + Vested Simple Reversionary Bonuses along with Final additional bonus, if any, is payable to the nominee.

• Savings cum protection: The policy buyer deposits a lump sum to the insurance company as premium, and his nominees receive the assured amount in case of death of policy holder during the term.

Your family becomes eligible to receive bonus along with sum assured in case of death of the policy holder during the policy period of 15 years

In case of death of policy holder, the fund value accumulated till date will be paid to nominee in case death before the date of commencement of risk.

Case 1: Upon death of the insured Insurance policy proceeds received by the family members in the event of death of the policy holder is completely tax exempt under section 10 of income tax act.

An Endowment Assurance Plan with financial protection in case of death of policy holder.

Sum assured (in case of death of the policy holder before maturity) is 10 lakhs and maturity amount (applicable only if the policy holder survived the tenure) is Rs. 23, 10,000.

In case of death of policy holder during the policy term, this policy provides 10 % of sum assured every year till maturity and on maturity it again provides 110 % of Sum Assured + Bonuses as maturity.

In case of the death of policy holder, annual income payments are made to the policy holder's family

The death benefit defines the amount that the beneficiary (under the policy) gets in the event of death of the policy holder.