Sentences with phrase «pay the premium on time then»

In case if the insured fails to pay the premium on time then they can pay the due premium under the grace period of 30 days offered by the insurer.

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.

Not exact matches

Whole life is kind of like a mortgage, you pay a proportionally greater amount in «interest» up front, and then as time goes on, your monthly premium payment begins to go more entirely towards your Cash Value (think «equity» in your policy).

Grace Period: In a case where the insured fails to pay his premiums on time, then he is allowed a 15 days grace period is for monthly premium payment cover and a 30 days grace period for a other premium payment modes.

An annuity plan works on a very basic principle — you create a fund for your retirement days by paying regular premiums throughout a period of time, and then when you retire and your regular income stops, the annuity plan substitutes your income by paying you regularly.

If you have paid premiums for at least 3 years and on time then you may avail of a loan, as far as non-term plans go.

If the policyholder failed to pay his / her premium on time, then he / she has to clear all his / her dues within the grace period.

If you fail to pay the policy renewal premium on time, then you will be uninsured again, i.e. the coverage provided to you by your health insurance policy will be taken back.

If the insured is unable to pay the premium on time, then the policy will lapse and he / she will have to renew the policy within 2 years from the day of lapsation.

Grace period: In case the insured fails to pay his monthly premiums on time then he is allowed a grace period of 15days and in case the insured fails to pay his other premium modes then he is allowed a 30 days grace period.

If your Health Insurance policy renewal date is missed and you failed to pay the premium on time, then don't worry.

Grace Period: If the insured fails to pay premiums on time, then a grace period of 15 days is given to the policyholder, in monthly premium paying mode and 30 days for other modes.

Suppose if a policyholder dies after 5 years of policy opening but before the policy maturity date, then the sum assured on death equals to 10 times of the single tabular premium paid along with the Loyalty amount.

If you have been driving for a number of years and have never had an accident, do not have any traffic violations or offenses and always pay your premium on time, then there is no reason why you shouldn't be offered the very best Enfield vehicle insurance discounts.

You may scan the premium, notice it has remained the same or gone up a little bit, and then pay the bill on time.

If you have been driving for a long time, always pay your coverage premium on time, have had no accidents or traffic convictions and drive a safe vehicle, then there is no reason why you should be paying a high premium on your car insurance.

Under lump - sum benefit option, a lump - sum amount equal to the sum assured will be paid on the death of the life insured and policy will then liable to terminate.The sum assured in this policy will be higher of 10 times the annualized premium, or 105 % of the annualized premiums.

So, if an insurance policy states a death benefit will be higher of 10 times the annual premium or 105 % of the total premiums paid till date or the sum assured, that will be first calculated to arrive at the sum assured on death and then the formula for paid - up sum assured will apply on this base sum assured.