Sentences with phrase «payment under a life insurance policy»

The contingency that triggers payment under a life insurance policy is the death of the insured while the policy is in force, and the cause of death must not be one that is excluded by the policy.

Not exact matches

4 CIBC Payment Protector Insurance for Credit Cards is optional creditor's group insurance underwritten by Canadian Premier Life Insurance Company under a group policy issued to CIBC as group poliInsurance for Credit Cards is optional creditor's group insurance underwritten by Canadian Premier Life Insurance Company under a group policy issued to CIBC as group poliinsurance underwritten by Canadian Premier Life Insurance Company under a group policy issued to CIBC as group poliInsurance Company under a group policy issued to CIBC as group policyholder.

The right of a judgment debtor to accelerate payment of part or all of the death benefit or special surrender value under a life insurance policy, as authorized by paragraph one of subsection (a) of one thousand one hundred thirteen of the insurance law [* see below], or to enter into a viatical settlement pursuant to the provisions of article seventy - eight of the insurance law, is exempt from application to the satisfaction of a money judgment.

If a policy of insurance has been or shall be effected by any person on his own life or upon the life of another person, the policyowner shall be entitled to any accelerated payments of the death benefit or accelerated payment of a special surrender value permitted under such policy as against the creditors, personal representatives, trustees in bankruptcy and receivers in state and federal courts of the policyowner.

Commutation Right: The right of a beneficiary to receive in a single lump - sum the remaining payments under an installment option which was selected for the settlement of the proceeds of life insurance policy.

The premium payment on Life insurance policy can be claimed as a tax deduction under section 80c.

The amount of money paid or due to be paid when a person insured under a life insurance policy dies, after adjustments for any outstanding policy loans, dividends, paid - up additions or late premium payments (if applicable) are made.

Under the terms of a life insurance policy, the insurer will generally make a payment upon the death of the insured.

Commutation Right: The right of a beneficiary to receive in a single lump - sum the remaining payments under an installment option which was selected for the settlement of the proceeds of life insurance policy.

When it comes to premium payments, there is another convenient option sometimes offered under Variable Life contracts - a policy with a fixed premium, which justifies the feature of flexibility attributed to Variable Life Insurance.

Further, the lump sum payment received under life insurance policy on maturity is also exempt on meeting condition prescribed under section 10 (10D) of ITL.

Accidental Death Benefit (Life Insurance): Provision under a life insurance policy for payment of an additional amount — usually equal to the face amount of insurance — if the insured is killed in an accidLife Insurance): Provision under a life insurance policy for payment of an additional amount — usually equal to the face amount of insurance — if the insured is killed in an Insurance): Provision under a life insurance policy for payment of an additional amount — usually equal to the face amount of insurance — if the insured is killed in an accidlife insurance policy for payment of an additional amount — usually equal to the face amount of insurance — if the insured is killed in an insurance policy for payment of an additional amount — usually equal to the face amount of insurance — if the insured is killed in an insurance — if the insured is killed in an accident.

As the name suggests, the total benefit under the life insurance remains same but the payment is accelerated i.e. the policy holder gets the benefit before death.

This plan is similar to the standard term insurance plan with regards to premium payment, and policy term, except, under the Increasing Term Insurance cover with the increasing age, the life cover also iinsurance plan with regards to premium payment, and policy term, except, under the Increasing Term Insurance cover with the increasing age, the life cover also iInsurance cover with the increasing age, the life cover also increases.

Tax Benefit: Most of the Life insurance policies give you the benefit of tax deduction on premium payment and Tax - Free sum assured under Section 80 C and 10 (10) D of the Income Tax Act, respectively.

Choose «Edelweiss Tokio Life Insurance» from list of payees under Insurance category and provide your policy number and date of birth to complete your payment.

An agreement between a life insurance company and a policy owner / beneficiary in which the insurer retains part of the cash sum payable under a policy and makes payments in accordance to the chosen settlement option.

The payment of premium under a life insurance policy offers a life cover to the policyholder.

A paid up insurance policy is a life insurance policy under which all life insurance premiums have already been paid, with no further premium payments due on the policy.

A great deal of statistics show that payments that are made under a term life insurance policy are lost, which makes it much easier for life insurance carriers to offer this coverage at a cheaper price.

When is a payment made under a critical illness rider attached with a life insurance policy?

1The premium mentioned is illustrated for 30 year old non - smoking male paying premium for Exide Life Elite Term Insurance Plan with a premium payment term and policy term of 20 years under super elite premium category.

Because insurance companies must guarantee death benefits and a minimum schedule of cash values in most policies (except variable life policies), they must be conservative when estimating the values of the various premium pricing factors (interest, mortality, expenses, lapse rates, and risk loading factors) used to compute the required premiums under any particular premium payment plan of insurance.

That is the case of Second to Die Life Insurance Policy also known as Survivorship Whole Life Insurance, designed to insure two people under one policy with one premium paPolicy also known as Survivorship Whole Life Insurance, designed to insure two people under one policy with one premium papolicy with one premium payment.