Sentences with phrase «payable during a policy year»

Annualized Premium is defined as the total premium payable during a policy year.

Not exact matches

This type of policy will pay out only a very limited benefit during the first few years the policy is in force, and then convert to a fully payable term life insurance policy for the remainder of the term.

Moreover, the sum assured payable on death will not be reduced at any point of time during the term of the policy except where partial withdrawals have been made during the two - year period immediately preceding the death of the life assured.

In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee After completing five policy years, if it is surrendered, then there is no Surrender / Discontinuance Charges and the Fund Value is paid to the policyholder and the policy will terminate immediately.

The clause in the Insurance Contract that defines that no death benefits will be payable by the Insurer, in case the Insured commits suicide during a specified initial period, usually in the first year of the policy.

Any sum received other than as death benefit under an insurance policy which has been issued on or after April 1 2003 and if the premium payable in any of the years during the term of the policy does not exceed 20 % of the sum assured.

For insurance policies issued on or after April 01 2012, exemption would be available for policies where the premium payable for any of the years during the term of the policy does not exceed 10 % of the actual capital sum assured.

During the first year, all of your premium payments will go to pay the life insurance premium and optional benefit riders of your policy and is payable at age 100.

Scenario II: In case of Rohan's unfortunate demise during the 5th policy year, Death Benefit amount payable is Rs. 428,744.

In case of Rohan's unfortunate demise during the 17th policy year, Death Benefit amount payable is Rs. 428,744.

Annual Payout — A fixed amount equal to 5 times the Monthly Payout is payable at the end of every policy year during the payout period and will not be payable during the last policy year (at maturity).

On survival of the Pensioner during the policy term of 10 years, pension in arrears (at the end of each period as per mode chosen) shall be payable

Under the same, on survival of the Pensioner during the policy term of 10 years, pension in arrears (at the end of each period as per mode chosen) shall be payable.

20 % of the base sum assured payable at the end of every year during the last three years of policy term before the maturity date

Scenario B - Death Benefit: In the event of death of Mr. Aryan during 12th policy year, the death benefit payable is higher of Sum Assured plus Top up Sum Assured OR Fund Value as on the date of intimation of death.

In case of demise during 1 year and 11 months following the date of commencement of the policy, 105 % of total premiums paid (till the date of death) is then payable.

In case of unfortunate death of policy holder during policy term, this plan proivides 10 % of sum assured every year till maturity and again at competion of policy term maturity amount is also payable.

In the event of demise of Mr. Raman during the 8th policy year, a lump sum amount of Rs 5 Lacs plus Accrued Guaranteed Loyalty Additions is payable as the death benefit to the nominee.

If your policy is discontinued any time during the first five policy years, discontinuance value will only be payable after completion of five policy years.

If your policy is discontinued any time during the first five policy years, discontinuance values displayed will only be payable after completion of five policy years.The past performance of any of the unit linked funds is not necessarily an indicative of the future performance of any of these funds.The mortality charges and rider premium rates are subject to underwriting of the proposal, and may increase before the acceptance of the risk.

Scenario B - Death Benefit: In the event of his death during the 16th policy year, the Death Benefit payable is higher of the sum assured or single premium fund value Plus higher of top - up premium sum assured or top - up premium fund value, if any.

In the event of demise of Mr. Raman during any policy year, Rs 2 Lacs plus vested Simple Reversionary Bonuses and Final Additional bonus is payable as the death benefit to the nominee.

In case of death by suicide during first Policy year or within one year from the date of revival, only fund value as on the date of death is payable.

A Term plan with Return of Premium is a contract between the applicant and the Life Insurance Company, under which the applicant agrees to pay a certain amount of money (Premium) per year for a fixed period in order to receive a guaranteed amount of money (Sum assured) in the event of his death during the policy term, payable to his nominee (any family member).

However any sum (not including the premium paid by the assessee) received under an insurance policy issued on or after the 1st day of April, 2003 in respect of which the premium payable for any of the years during the term of the policy exceeds 20 % of the actual capital sum assured will no longer be exempted under this section.

Under this rider, if there is an accident before completing 65 years of age, or during the contract period, whichever is earlier, an additional amount equivalent to the basic sum assured (max Rs. 50 lakhs under all policies issued by SUD Life is payable

The Sum Assured chosen by him is Rs. 4,00,000 for which he is paying a premium of Rs. 25,186 p.a. * Ashish will receive 3 Money Back instalments of Rs. 1,20,000 during the policy term * These Money Back instalments will be payable to him starting from the end of every 7 policy year * On maturity, 60 % of the Sum Assured + Vested Bonus (VB), if any is payable.

Up on completing 65 years of age or during the contract period, whichever is earlier, an amount equivalent to the 50 % of the basic sum assured at the inception of the policy is payable

Income Benefit: Monthly income payable during the 10 year Payout Period post completion of the Policy Term.

Sum Assured is payable, in case of death of the life insured before the date of maturity and during the first five policy years.

Simple Reversionary Bonus vested annually from the end of the 1st policy year and is payable on survival during benefit payout term or death of the life insured / maturity of the policy, as applicable under Pure Income Benefit & Income with Maturity Benefit Option respectively.

Scenario B - Death Benefit: In the event of his death during any policy year, the Death Benefit payable is higher of Sum Assured plus top - up premium, 105 % of the total premiums paid, Balance in your Individual Policy Account (IPA), or Total premiumspolicy year, the Death Benefit payable is higher of Sum Assured plus top - up premium, 105 % of the total premiums paid, Balance in your Individual Policy Account (IPA), or Total premiumsPolicy Account (IPA), or Total premiums paid.

In the event of accidental death during the tenure of the policy (provided the life assured is aged 18 years & above on the date of death), an additional sum assured is payable apart from the death benefit mentioned above as per the policy terms and conditions.

Scenario B - Death Benefit: In the event of his death during any policy year, the Death Benefit payable is higher of Sum Assured on Death or Policy Account policy year, the Death Benefit payable is higher of Sum Assured on Death or Policy Account Policy Account Value.

Scenario B: Rajesh dies during the Term of the Policy In the event of Rajesh's death at the end of the 5th policy year, the death benefit is the Sum Assured payable immediately and all future premiums are wPolicy In the event of Rajesh's death at the end of the 5th policy year, the death benefit is the Sum Assured payable immediately and all future premiums are wpolicy year, the death benefit is the Sum Assured payable immediately and all future premiums are waived.

In the event of death during the first 1 year and 11 months of the policy, 105 % of total premiums paid till the date of death is payable.

Scenario B: Raman dies during the Term of the Policy In the event of demise of Mr. Raman during the policy term, Rs 1,00,000 plus Loyalty Addition after completion of 5 policy years is payable to the noPolicy In the event of demise of Mr. Raman during the policy term, Rs 1,00,000 plus Loyalty Addition after completion of 5 policy years is payable to the nopolicy term, Rs 1,00,000 plus Loyalty Addition after completion of 5 policy years is payable to the nopolicy years is payable to the nominee.

Scenario B - Death Benefit: In the event of death of Mr. Raman during any policy year, the higher of Sum Assured, 105 % of the regular premiums paid, or the regular premium Fund Value is payable to the nominee.

In the event of demise of Mr. Raman during any policy year, Rs 3 Lacs along with vested Simple Reversionary Bonuses and Final Additional Bonus is payable.

Scenario B - Death Benefit: In the event of his death during the 14th policy year, the Death Benefit payable is higher of the sum assured or regular premium fund value Plus higher of top - up premium sum assured or top - up premium fund value, if any.

Guaranteed additions will vary as per the policy term.The guaranteed additions will accrue at the end of each policy year during the policy term.The accrued guaranteed additions are payable either on death or maturity, whichever happens first.

Scenario B: Chirag dies during the Term of the Policy In the event of death of Chirag at 40 years of age, the death benefit payable is Rs 5,25,000 as a lump sum to the family.

Scenario B - Death Benefit: In the event of his death during the policy term, Before age 60 years, the Death Benefit payable is higher of Sum assured less partial withdrawals (in preceding two years), 105 % of all premiums paid or Fund value.

In the event of demise of Mr. Raman during the 8th policy year, a lump sum amount of Rs 20 Lacs or above is payable as the death benefit to the nominee.

Scenario B - Death Benefit: In the event of death of Mr. Raman during any policy year, higher of Basic Sum Assured less all Deductible Partial Withdrawals, 105 % of the Single Premium paid, or the Single Premium Fund Value is payable to the nominee.

Scenario B - Death Benefit: In the event of his death during any policy year, the higher of Sum Assured plus Policy Account Value is payable or 105 % of the total premiums paid, as on the date of policy year, the higher of Sum Assured plus Policy Account Value is payable or 105 % of the total premiums paid, as on the date of Policy Account Value is payable or 105 % of the total premiums paid, as on the date of death.

In the event of demise of Mr. Raman during any policy year, the nominee will receive Death Sum Assured as a lump sum is payable.

Scenario B: Mr. Gupta dies during the Term of the Policy In the event of unfortunate demise of Mr. Gupta in the 3rd policy year after payment of 3 years» premiums, his family will receive a lump sum amount of Rs 1,014,000, Guaranteed Sum Assured on maturity equal to Rs 2,00,000 along with accrued Annual bonuses and Final bonus, is payable on matPolicy In the event of unfortunate demise of Mr. Gupta in the 3rd policy year after payment of 3 years» premiums, his family will receive a lump sum amount of Rs 1,014,000, Guaranteed Sum Assured on maturity equal to Rs 2,00,000 along with accrued Annual bonuses and Final bonus, is payable on matpolicy year after payment of 3 years» premiums, his family will receive a lump sum amount of Rs 1,014,000, Guaranteed Sum Assured on maturity equal to Rs 2,00,000 along with accrued Annual bonuses and Final bonus, is payable on maturity.

The Loyalty Additions are payable during the last 5 policy years.

In case of survival of the insured till end of the policy term, 200 % of the annual premium is payable at the end of each year during 16th to 30th year.