Sentences with phrase «payable on death»

The benefit payable on surrender is the discounted value of the claim amount that would be payable on death or at maturity.In case of surrender in the early years of the policy, the surrender value payable may be less than the total premiums paid

If you don't want to purchase separate insurance, designating a certain amount of savings to a Payable on Death account is another option for making sure whoever's left behind has cash on hand to deal with the expense of a funeral if need be.

Dear Raj, As per Section 10 (10D), if the premium amount on Single Premium is more than 10 times of sum assured payable on death, in such cases the maturity proceeds are tax - free.

An insurance contract where the benefit is payable on death, whenever it occurs.

In case of loan, the amount payable on the death of the member is equal to the loan outstanding as per the loan schedule finalized at the outset of taking the membership.

According to the new rules, for policies where the premium is fixed and uniform, the reduced paid - up sum assured payable on death or on maturity will be at least equal to the total period for which premiums have already been paid divided by the maximum period for which premiums were originally payable multiplied by the sum assured on death or on maturity.

Maturity Benefit Options (a) Enhanced Cash Option: · Sum Assured + Reversionary Bonus + Interim Bonus (if any) + Terminal Bonus (if any) + · Enhanced Terminal Bonus OR (b) Enhanced Cover Option: · Sum Assured + Reversionary Bonus + Interim Bonus (if any) + Terminal Bonus (if any) · And Additional Sum Assured payable on death of Life Assured upto the age of 99 Years.

Sum Assured payable on Death is reduced to the extent of Partial Withdrawals made during the last two years prior the date of death.

Simple Reversionary Bonus is declared annually and accrued to be payable on death or maturity claim.

It is payable on death or at the end of policy year when Life Insured attains age 75, whichever is earlier.

# If the life insured dies before 60 years of age, Sum Assured payable on Death is reduced to the extent of Partial Withdrawals made during the last two years prior the date of death.

Reversionary Bonus during PPT (RB1): It accrues every year from the first policy year till the end of premium paying term and is payable on death or at the end of premium paying term, whichever is earlier.

The accrued GLA is payable on death or on maturity, said a press release issued by the company.

Under an endowment policy, bonuses include Simple Reversionary Bonus and Terminal Bonus is added to the sum assured and payable on death or maturity under the policy.

Terminal Bonus may also be declared and it is payable on death or maturity under the plan.

It is payable on the death or maturity.

The sum assured payable on death helps your family to meet their financial expenses with ease.

Death sum assured is payable on death which is higher of 10 times the Annualised Premium or Sum Assured or 105 % of the total premiums paid (excluding Service Tax, extra premiums, if any) till date of death.

Terminal Bonus may be declared from 25th policy year and it is payable on death or maturity.

On attaining 60 years of age, Sum Assured is reduced to the extent of Partial Withdrawals made within two years before attaining age 60 and all Partial Withdrawals made after attaining 60 years of age are adjusted to determine the actual sum assured payable on death.

The amount payable on death is higher of 10 times the annualized Premium, 105 % of all the Premiums paid, the amount payable on the maturity of the Policy, or assured death benefit.

Sum Assured payable on death is at least 10 times of annualized premium or 105 % of all the premiums payable.

Compounded Reversionary Bonus is a percentage of the total of Basic Sum Assured and once declared, it become guaranteed benefit under the plan to be payable on death or maturity.

Terminal Bonus is declared as a percentage of accrued Compound Reversionary Bonus and it is payable on death (when policy is in - force for 10 years) or maturity.

For example, 20 percent would be payable on death and the rest in instalments till the end of the term.

Interim Bonus is payable on death, surrender, or maturity during the inter-valuation period.

Applicable and the accrued reversionary bonus is payable on death or surrender or maturity claim amount.Reversionary bonus is expressed as a percentage of the base sum assured.Terminal bonus is payable only on maturity and is expressed as a % of the accrued simple reversionary bonus.

Accrued CRB is payable on death, maturity, or surrender.

Higher of 100 % of Sum Assured plus guaranteed additions on the premiums paid or 105 % of premiums paid till date of death (excluding any underwriting extra premium) or 10 times annualized premium is payable on the death of the Life Insured

Here, Sum Assured on Death is higher of absolute amount payable on death, sum assured on maturity, 105 % of all the premiums paid, or 10 times of Annualized premium.

The Loyalty Addition is payable on death upon completion of five policy years or at maturity.

Bonuses once attached to the policy are payable on death, surrender or maturity as may be applicable.A Terminal Bonus may be added to a policy which depends on the actual future experience it is not a guaranteed benefit.

In case of unfortunate event of death of Life insured (applicable even in case of minor lives), subject to the policy being in force the Sum Assured payable on death will be higher of:

Additional Sum Assured is payable on death occurring due to an accident is Rs 1,00,000 along with the basic death benefit.

Guaranteed additions of up to 10 % at the end of every year, payable on death of Life Insured or at maturity

(where Death Sum Assured is higher of Sum Assured10 times Annualised Premium or Maturity Sum Assured, which is equal to sum assured or Absolute amount payable on death (which is equal to Sum Assured)

On attaining more than 60 years, all Partial Withdrawals are adjusted to determine the actual sum assured payable on death.

It is accrued throughout the policy term and is payable on death / maturity / surrender.

In case of unfortunate event of death of Life insured (applicable even in case of minor lives), subject to the policy being in - force the Sum Assured payable on death will be higher of:

However, on attainment of age 60, all the partial withdrawals made within two years before attaining age 60 and all the partial withdrawals made after attaining age 60 will be reduced from the Sum Assured to determine the actual sum payable on death.

Single Life Annuity for life with return of premium (ROP) payable on death: On death, 100 % of the purchase price (excluding Service Tax) shall be paid to your nominee.

3) Income Option - Part of Sum Assured payable on death and the remaining payable as monthly income for 15 years 4) Income Plus Option - Sum Assured paid on death & monthly income paid for next 10 years.

Apart from the above, death benefit continues like an endowment plan i.e., full sum assured shall be payable on death within the term irrespective of earlier survival benefits.

Premiums for this option are payable during the premium paying term and an amount equal to Term Assurance Sum Assured will be payable on death during the policy term.

On the first diagnosis of any of the 40 specified critical illnesses, the payout for Critical Illness benefit will be made, and the balance life cover will be carried forward (with reduced future Premiums payable) and payable on death.

The compounded reversionary bonus will accrue every year from the 1st policy anniversary and will be payable on death or maturity.

5 % of the Sum Assured is also paid immediately and the same amount is payable on every death anniversary till your child aged 17 years.

The outstanding loan amount plus interest is deducted from the benefit payable on death / surrender / maturity.

The amount payable on death is subject to a minimum of 105 % of the total premiums paid.

Death Sum Assured is higher of maturity sum assured, absolute amount payable on death, 10 times the annualized premium, or 105 % of the total premiums paid.