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.
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.
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.
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.
In case
of death of policy holder before 15 years or date of maturity, 10 times of single premium paid (excluding Service Tax) + Loyalty Addition will be death claim amount.
Not exact matches
If the
policy -
holder dies within the grace period
before the premium is paid, then the insurance provider will deduct the value
of the premium from your
death benefit.
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.
On
death before the beginning
of risk, an amount equivalent to the
policy holder's fund value will be payable, whereas on
death after the date
of beginning
of risk, an amount equivalent to the higher
of sum assured or
policy holder's fund value to be paid.
In case
of death before the commencement
of risk,
policy holder's family will get the paid premiums till date after deducting taxes, extra premium and rider Premiums (if any).
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.
Generally, bonuses are declared at the end
of the year, but if the
policy matures or
death occurs
before the year end, insurers declare interim bonus to avoid the disadvantage to the
policy holder.
RaviReplied: 02-02-2016 20:46:16 Refund
of single premium will be done in case where
policy holder is less than 8 year old and
death happens
before completion
of 8 years
of age.
In case
death before completion of 10 years (Before Year 2027 in this case), purchase price (Rs. 7,50,000) will be returned to policy holder's nominee or legal
before completion
of 10 years (
Before Year 2027 in this case), purchase price (Rs. 7,50,000) will be returned to policy holder's nominee or legal
Before Year 2027 in this case), purchase price (Rs. 7,50,000) will be returned to
policy holder's nominee or legal heirs