His wife (or the nominee) can opt to take half the amount as lumpsum immediately and the remaining 50 % as monthly income (starting from next Policy Anniversary after the date of death) increasing at 8.50 % p.a. (simple rate) every year starting from
the policy anniversary following the date of death.
(Note: The income will start from
the Policy Anniversary following the Date of Death.The above illustrations and stated values are only suggestive.
Instead of taking the entire amount as lump sum, she plans to opt for the Settlement Option 2 where she will get Rs. 50 Lacs as lump sum immediately after death and the remaining Rs. 50 Lacs as monthly income (starting from next Policy Anniversary) increasing at 8.50 % p.a. (simple rate) every year starting from
the policy anniversary following the date of death.
Conversion to a permanent life policy available prior to
policy anniversary following the insured's 70th birthday
Option 2: Receive 50 % of the Guaranteed Death Benefit as a lump sum and 0.42 % of Guaranteed Death Benefit as monthly income for the next 10 years increasing at 8.50 % p.a. (simple rate) every year starting from
the policy anniversary following the date of death of the life insured
Regular increasing monthly income is paid from
the policy anniversary following the completion of the premium paying term
The policy anniversary following the child reaching 18 years is the date on which the ownership of the policy will revert back in the child's name and the child becomes the legal policyholder this date is called the Vesting Date
The policy will vest in the name of the Life Assured on
the policy anniversary following the completion of 18 years of age.
Family Income Benefit (FIB)-- An amount equal to 10 % of the Sum Assured will be paid on
each Policy anniversary following or coinciding with the Date of Death of the Life Insured till the end of the Policy Term, but not exceeding 10 such installmentsa
This is because it has a guaranteed death benefit that won't terminate before the first
policy anniversary following the insured's 120th birthday.
These plans provide level premiums throughout the life of the coverage — and they also offer the opportunity for the policyholder to convert over to a permanent life insurance policy up through
the policy anniversary following the insured's 70th birthday.
The final 4 - year period, which will always begin at age 86, will expire and the policy will terminate at
the policy anniversary following the insured's 90th birthday.
1If requested prior to the earlier of the end of the initial term period or
the policy anniversary following the insured's 75th birthday, the policyowner can convert the term policy to the permanent life insurance policy that we make available for conversion on that date in the policy's state of issue.
No later than
policy anniversary following child's 25th birthday, insured's attained age 65 or insured's death
Rider Conversion Feature — May convert rider coverage on each eligible child covered by the rider at
the policy anniversary following the child's 18th, 22nd or 25th birthday up to 5x amount of coverage (minimum of $ 25,000)
You must do so no later than
policy anniversary following child's 25th birthday, or the insured's (parent or legal guardian's) attained age 65 or insured's death.
Benefits will automatically reduce by 50 % on
the policy anniversary following the insured person's attainment of age 70, or after five years from the effective date, whichever provides the longer period of coverage.
Under this LIC child plan, the policy will vest in the name of the child who is the life assured and will then become the policyholder on
the policy anniversary following the completion of 18 years of age
This LIC child plan policy will vest in the name of the child who is the life assured and will then become the policyholder on
the policy anniversary following the completion of 18 years of age
Not exact matches
As part of our continuing series of commentaries celebrating the 50th
anniversary of Mel Watkins» classic article, «A Staple Theory of Economic Growth,» we present the
following commentary by Marc Lee, economist with the B.C. office of the Canadian Centre for
Policy Alternatives. Marc considers the implications — both economic and environmental — of the current -LSB-...]
For other insureds, it is the
policy anniversary on or
following the 67th birthday.
1 For insureds born on or before Dec. 31, 1956, the normal
policy termination date is the
policy anniversary on or
following the 66th birthday.
I called to find out what the cost of insurance would be for the
following year, since I just had my
policy anniversary date, so that I could increase my monthly premium to reflect that..
Continuous coverage is available until you reach the
policy anniversary immediately
following your 85th birthday.
The Return of Premium Option also insures the return of all premiums paid (up to 100 % of the benefit amount) should the
policy continue until its expiry date, which is the
anniversary date
following the
policy holder's 75th birthday.
Under this LIC child plan, the money back benefits will start to be paid only from the
policy anniversary which coincides or
follows the completion of 20 years of age of the life insured and are payable for 5 years till the insured attains the age of 25 years
Both deferment and vesting will occur on the
policy anniversary which
follows the child attaining the deferment age or the vesting age.
During a 60 - day window
following the 20th
policy anniversary, the surrender value will be the lesser of 100 % of the premiums paid ¹ or 30 % of the lowest face amount ².
Anniversary Year The 12 consecutive months
following the Effective Date of the
Policy and each 12 - month period thereafter.
This increase, if any, will apply from the
policy anniversary coinciding with or
following the increase.
The increase, if any will apply from the
Policy Anniversary coinciding with or
following the increase.
The Annual Income Benefit equivalent to 10 percent of the Basic Sum Assured that must be payable from the
anniversary of
policy going along with or
following the date of the demise of the Life Assured, until the
anniversary of the
policy before the maturity date.
If the person insured is less than 8 years of age than the risk cover under this plan will commence from 2 years after the start of the
policy or from the
anniversary of the LIC single premium
policy coinciding with or immediately
following the date of the person turning 8 years of age.
If the entry age of assured is less than 8 years of, then the risk under this plan will begin either one day before the completion of 2 years from the date of inception or one day before the
policy anniversary, immediately
following the completion of 8 years of age.
In that situation, on the
policy anniversary which
follows the child's 18th birthday the
policy's ownership status changes hands and reverts in the name of the child.
Risk cover begins one day before the completion of 2 years of the
policy inception or one day before the
policy anniversary that coincides with or
follows the child's 8th birthday
If the age at entry is less than 8 years, the risk will commence either one day before the completion of 2 years from the date of commencement of the
policy or one day before the
policy anniversary coinciding with or
following the completion of 8 years, whichever is earlier.
As the policyholder attains the age of 75 years or on the
policy anniversary (whichever happens later), the
following benefit shall be paid: Guaranteed Maturity Sum Assured + Accrued Paid - up Additions (if any) + Terminal Bonus (if any) where Guaranteed Maturity Sum Assured is the total guaranteed sum to be received at the end of the
policy term Accrued paid - up additions are any additional coverage provided by the company (if applicable) Terminal bonus is the bonus to be received at the end of the
policy term (if applicable)
Date of commencement of risk In case the age at entry is less than 8 years, the risk will commence either one day prior to the completion of 2 years from the date of commencement of
policy or one day before the
policy anniversary coinciding with or immediately
following the completion of 8 years of age, whichever is earlier.
Date of commencement of risk: In case the age at entry of the life insured is less than 8 years, the risk cover is available either one day before the completion of 2 years from the date of commencement of
policy or one day before the
policy anniversary coinciding with or immediately
following the completion of 8 years of age, whichever is earlier.
Survival benefit is payable on each of the next 4
policy anniversaries on or
following the completion of 20 years of age
On survival of the life insured on each of the
policy anniversaries coinciding with or
following the completion of 20 years of age and then on each of the next 4
policy anniversaries.
Guaranteed Maturity Sum Assured + Accrued Paid - Up Additions (if any) + Terminal Bonus (if any) is payable to the policyholder as Maturity proceeds on the
policy anniversary immediately
following or coinciding with Life Insured attaining age of 75 years.
Sum Assured on Death will be paid in equal monthly installments starting immediately from the next monthly
anniversary following the date of death and will be payable for 72 months (for
policy term 12 years), 96 months (for
policy term 16 years) or 144 months (for a
policy term of 24 years).
On the Life Assured surviving the
policy anniversary coinciding with or immediately
following the completion of ages 18 years, 20 years and 22 years, 20 % of the Basic Sum Assured on each occasion shall be payable, provided the
policy is in full force.
We have added support for the
following new Microsoft Edge management
policies as a part of the Windows 10
Anniversary Update: