Sentences with phrase «of the due premiums within»

Lapse: Failure to pay three years of due premiums within the Grace Period will result in the policy lapsing.

Not exact matches

In many cases a premium or discount may be due to slight variations in the market pricing of the securities within the fund.

Lapsed is a policy status under which all benefits of the policy stops due to non-payment of the premium due within the grace period.

However, if your insurance policy lapses due to non-receipt of your insurance premiums within the first three years, it can be revived (re-instated) within two years from the date your life insurance coverage lapsed.

Universal life is considered to be more flexible than whole life in that the policyholder is able — within certain guidelines — to change the due date of the premium payment, based on his or her needs.

However, universal life is thought of as being more flexible than whole life because the policy holder has more control over when the premium due date is, as well as how much of the premium goes towards the death benefit, and how much goes towards the policy's cash value (within certain guidelines).

This policy also offers a flexible premium option, which means that the policyholder can — within certain guidelines — change the timing of when the policy's premium is due.

We will not pay a Guaranteed Acceptance Benefit if your death is due to: • Use of drugs, impaired vehicle operation or commission of a criminal offence; or • Suicide within 2 years from the effective date or reinstatement date, in which case, we refund 100 % of the premiums paid up to that date without interest4.

A grace period provision is also defined within a life insurance policy that provided for a period of time, usually 30 or 31 days in which an insured must pay a premium payment beyond the date of which the premium is usually due, without losing coverage.

In case of your failure to pay premiums on time, you will get a notification from the insurer to make sure that you have made payments of all the due premiums within a fixed grace period.

The insured applies to renew his plan within 2 years from the date of first unpaid premium due date.

On failure of payment of the premiums for other payment modes, a grace period is allowed for 30 days within which the policyholder can pay his premium dues.

Of course, if the premium increase was due to claims, your credit scores dropping dramatically or some other issue within your control, changing carriers probably won't improve your payments.

Grace Period: On failure of payment of the premium for monthly payment modes, a grace period is allowed for 15 days within which the policyholder can pay his premium dues.

The revival of a lapsed or discontinued 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 and pays all due premiums.

Grace Period: A grace period of 15 days is allowedfor the payment of due premiums that the policyholder had failed to pay within the allotted period for premium payments.

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.

Universal life insurance is also flexible in nature, in that the policyholder is allowed, within certain guidelines, to alter the timing of when the premium is due.

(iii) If a qualified employer is terminated due to lack of premium payment, but within 30 days following its termination the qualified employer requests reinstatement, pays all premiums owed including any prior premiums owed for coverage during the grace period, and pays the premium for the next month's coverage, the Federally - facilitated SHOP must reinstate the qualified employer in its previous coverage.

Universal life insurance coverage is somewhat more flexible in that the policyholder may — within certain guidelines — change the timing of the premium's due date.

The renewal request is received within 2 years from the first unpaid premium due date, before the date of maturity.

Chris -(I agree; great blog) I had the same question - So taking it a little further — if he was given automatic group insurance when eligible, leaves work down the road due to illness - work signs off on the conversion form that he is eligible, then the insurer says he is eligible & no physical is necessary under conversion and they issue his policy; he pays his premium then he dies within the 2 year period of natural causes, how & what can they contest?

This is because the policyholder can — within certain guidelines — change the timing of when their premium is due, as well as the amount of money that goes towards the policy's cash component and its death benefit component.

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.

If the due premiums are not paid within the grace period, a revival notice will be sent to the policyholder within fifteen days from the date of expiry of the grace period.

Break In Policy - occurs at the end of the existing policy term, when the premium due for renewal on a given policy is not paid on or before the premium renewal date or within 30 days thereof.

The policy has a 90 day waiting period from the date of acceptance of risk within which, if death occurs (other than due to accident), the nominee will receive 100 % of the premiums paid till the date of death excluding taxes.

Universal life offers both permanent protection and flexibility in that the policyholder can — within certain guidelines — alter the premium due date, and can also decide how much of his or her premium dollars go toward the death benefit or the policy's cash value.

However, the policy can be revived within 5 years from the due date of first unpaid premium.

If the life insured dies due to suicide within one year of reviving a policy which was lapsed, higher of 80 % of the premiums paid or the Surrender Value acquired by the plan is paid.

The lapsed policy can be revived within 2 years from the due date of the first unpaid of the premium.

You can revive your lapsed or Paid - up policy and the riders for its full coverage within 2 years from the due date of the first unpaid premium but before policy maturity, by paying all outstanding premiums together with the interest, as declared by us from time to time.

The policyholder may revive a policy by the payment of the due premium (s) at any time within a period of 30 days from the date of receipt of the revival notice but before the maturity date of the policy subject to satisfactory medical and financial underwriting.

If death occurs due to suicide within 12 months of the inception or revival of the policy then only 80 % of the premium amount is payable back to the nominee

The insured can apply for renewal of his plan within 2 years from the due date of the first unpaid premium.

Grace Period: In case of failure of the premium payment within the given time, a 15 days» grace period is allowed to the insured to make payment of the due premium in monthly mode and 30 days in other modes.

The policy lapses if less than three years of premiums have been paid, and due premiums are not paid within the Grace Period.

The application for revival is made within 2 years from the due date of the first unpaid premium and before the termination date of ICICI term insurance policy.

Grace Period: In case, the insurance holder fails to pay the premium on time then a grace period of 30 days is offered under the policy under which the insured can pay the due premium within the 30 days.

A discontinued policy may be revived within two years of discontinuance by paying all due premiums.

If a policy holder pays all the premiums within their due time, the policy will be eligible to receive a percentage of the profits of the life insurance Corporation.

If the policyholder fails to pay the premium within the due date, then a period of 30 days is provided as a Grace period from the first due date (15 days for those who have opted for monthly mode) of premium payment.

The revival of a lapsed or discontinued 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 and pays all due premium.

If the insured dies within the grace period, then, death benefits under the plan shall be payable which is the complete sum assured after making applicable deductions of the premiums due.

Grace Period: If the insured fails to pay his premium within the premium due date then he is allowed a grace period of 15 days for monthly premium payment mode and 30 days grace period in case of annual premium payment mode, failure to which the policy shall lapse.

Policy Revival: A lapsed or reduced paid - up insurance policy can be revived only within 2 years from the due date of the first unpaid premium.

Rest of the due premium is to be paid by the insured in equal installments within 2 years along with the regular premium as per the tenure of the policy.

If due premiums of the first three years are not paid within the Grace Period, the policy will lapse.

Lapsed Policy Reinstatement or Revival: You may revive your lapsed policy within 2 years from the due date of the first unpaid premium.

If the life insured dies due to suicide within one year of reviving a lapsed policy, higher of 80 % of the premiums paid or the acquired Surrender Value is paid.