Sentences with phrase «paid during the policy period»

It is also not applicable for exemption if the total premiums paid during the policy period are more than 20 % of the total sum assured received.

Return of premium is a type of insurance policy in which all or a portion of the amount of premiums paid during a policy period will be returned to the policyholder if claims are not filed, or if the amount of claims filed is smaller than the amount of premiums paid.

Not exact matches

The magnitude of these changes is particularly great considering that no elementary school on probation was actually reconstituted during this period and that the social promotion policy has no direct effects on teachers» pay or job security.

A person who receives such leave may be paid one - half of his or her ordinary salary during the period of such leave, or in accordance with negotiated agreement or district school board policy, and shall receive full benefits during such period.

New master policies provide better clarity on claims, and new financial requirements (Private Mortgage Insurer Eligibility Requirements, or PMIERs) ensure that MIs have adequate liquidity and claims - paying capacity during periods of stress.

Expect to pay a much higher premium rate, or purchase a policy at work during an initial open enrollment period.

Level term policies guarantee to pay out a benefit when the policy is in force, and is also guaranteed to not go up in price during the level term period.

A percentage of the Sum Assured on Maturity will be paid during the Maturity pay - out period starting from the end of the Policy Term till the end of the 19th year.

While life insurance rates will vary according to your particular health and risk profile, term policies are typically the least expensive form of coverage, since they only pay out if you die during a certain period of time (the «term» of the policy).

The company offers three types of whole life insurance policies, the only difference being the period of time during which you pay for coverage:

The basic features of the long - term care policy include the following: Elimination Period: The elimination period functions like an insurance deductible, during which time the insured pays for medical expPeriod: The elimination period functions like an insurance deductible, during which time the insured pays for medical expperiod functions like an insurance deductible, during which time the insured pays for medical expenses.

Policies have a surrender period during which, if you withdraw part of the cash value or decide to give up your coverage, you will pay fees.

If the insured dies during the time period specified in the policy and the policy is active — or in force — then a death benefit will be paid.

35 year old Siddharth chooses our Bharti AXA Life Flexi Save with a policy term of 20 years as he wishes to receive guaranteed benefits along with the flexibility of withdrawing money any time during the flexi benefit pay - out period.

Should death occur during the modified / graded period, most policies will return the premiums paid, plus some modest interest.

Immediate (again term usage varies by carriers) benefit means exactly what the term implies: Once approved the full amount of the policy is immediately in force and will be paid in its entirety should the insured die during the policy's active period.

Claims made insurance pays for claims made during the policy period, more or less without regard to when the act occurred.

If the insurer approves your application but then finds out about the misrepresentation during the contestability period — usually the first 2 years of the policy — it can cancel the policy and return the premiums you've paid (minus any fees).

During the period that is selected, the amount of the premium rate will remain the same — and, as long as the premium is paid, the policy will guarantee a level amount of life insurance protection up to the insured's age 95.

There is no cash value with a term insurance policy but when you get term life insurance quotes, the insurance company guarantees they will not increase the price you pay during this level term period (10, 15, 20, 25, or 30 years) to protect your loved ones.

With this feature, premiums may be higher than normal, but as long as they're paid, your policy won't lapse during the guarantee period.

There's the per claim limit of a policy, so that's the most a carrier will pay for a single claim made during a policy period.

And then the second number is the aggregate limit of a policy, and it's the most a carrier will pay for all claims made during the single policy period.

For example, the Ontario Court of Appeal in Paquette v. TeraGo Networks Inc. 6 found that a term in a bonus policy that required the employee to be actively employed when the bonus is paid, without more, is not sufficient to deprive an employee of a claim for compensation for the bonus he or she would have received during the notice period.

The Court found that a term in a bonus policy that requires active employment when the bonus is paid, without more, is not sufficient to deprive an employee terminated without reasonable notice of a claim for compensation for the bonus he or she would have received during the notice period, as part of his or her wrongful dismissal damages.

If you fail to revive your policy during the allotted period then the surrender value of the same is paid to you but surrender charges are deducted from the same.

Term policies pay death benefits — if you die during the period covered by the policy, proceeds will go to your beneficiaries.

In case the insured dies during the grace period, the insurer is liable to pay the death benefit (coverage amount) to the beneficiary named in the policy, less any amount outstanding (including the unpaid premium).

«Return of Premium» is a common feature in many term life insurance policies that provides a full or partial refund of the premium paid at the end of the coverage period if nothing was paid out on the policy during that time.

With term life insurance, benefits are paid if the policy owner dies during the period covered by the policy.

If an insured dies during the grace period and the premium has not been paid, the policy benefit is payable.

In this scenario, you are not subject to a full waiting period where your policy pays no death benefit during the first 24 months.

If an injury or illness occurs during the period of coverage and the insured person requires medical or surgical treatment, this plan will pay, subject to the co-insurance and selected deductible, reasonable and customary charges for the following covered expenses, up to the selected policy maximum.

In the case of death of the policyholder during the policy period, the insurance company pays a death claim equal to the Sum Assured or Death Benefit.

Instead, should the insured pass away during this time period, the named beneficiary will receive back only the amount of premium that has been paid into the policy.

General Liability Insurance policies always list a maximum amount that the insurer will pay during the effective period of the policy and the maximum amount the insurer will pay per occurrence.

Because term life insurance only pays out if the policyholder's death occurs during the term of their coverage period, policy premiums are generally lower than whole life insurance.

In term insurance, a pre-determined amount of money is paid to the nominee on demise of life assured during the policy period.

In the event that the insured parent passes away during the 10 - year period of the policy, a $ 50,000 death benefit is paid to a trust1.

There are several methods companies use to pay benefits during periods of fluctuating monthly expenses as well as additional policy options.

Regardless if your health changes after you've accepted and placed your policy in force, your rates will never change during the guarantee period, so long as you keep your premiums current and paid.

Both, the contractor and the insurance company agree on a co-pay, the percentage related to what the insured will pay after the deductible and will establish an aggregate value, the maximum amount the insured will have to pay for a claim arising during the policy period.

The dividend is paid regardless of your loss experience during that policy period.

During that time, the policyholder pays an annual premium, and if he or she dies within the period, a death benefit is paid out to the beneficiaries of the policy.

The company pays the face value of the policy only if you die during the term period.

During this period, if he / she is not satisfied with the policy, then the policy can be returned back to the respective company, who is bound to refund premium amount that has been paid, subject to the deductions like stamp duty that has been paid on the policy, premium for the number of days coverage has been given.

Out — of — Pocket Limit — The most a policyholder will have to pay for premiums during the time period a policy is in place.

If you were to die during the time period specified in your policy (and the policy remains in force), then a death benefit will be paid out.

Often, whole life policies come with a surrender charge period, during which you would pay a penalty if you surrender your policy.

But if the life insurance company detects a misrepresentation in your application during the contestability period while you're still alive, it may still cancel the policy and return any premiums you've paid (minus any fees) or ask you to pay higher premiums.