Sentences with phrase «policy tenure»
"Policy tenure" refers to the length of time that someone has held or maintained an insurance policy or contract. It indicates the duration or period of ownership or coverage under that particular policy. Full definition
Also, you have completed almost 60 to 75 % of policy tenure for both the policies.
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During policy tenure in case you are diagnosed with any terminal illness, company will pay you a lump - sum amount equal to 25 % of sum assured.
Under this new plan, policyholder needs to pay premiums for 20 years for policy tenure of 25 years.
An ideal child insurance plan should be flexible in offering the appropriate policy tenure as per the choice of the policyholder.
If the investor survives the entire policy tenure, the entire premium submitted at the beginning of policy term along with the loyalty addition will be returned.
A death benefit is promised under the plan which is paid if the insured dies during the chosen policy tenure.
The maximum tenure of the policy is 25 years and your individual policy tenure depends on the age of your child when you buy the policy.
During the tenure of the plan, if the life insured is diagnosed with any of the above critical illness, then the premium for the remaining policy tenure is waived off.
The plan will offer a long term protection for your family throughout the opted policy tenure along with guaranteed returns on your paid premiums.
30 - year policy tenure means that the insurer is covering the risk of your dying for a longer period.
In case you survive till policy tenure end, then you will get all premium paid till date.
By opting for a plan with larger policy tenure, you can enjoy the policy coverage for a longer time with the same policy premium.
The amount stays fixed for the opted policy tenure.
In addition to this, insurers also provide an option to cover new - born babies, from birth till the end of policy tenure.
In case of death during policy tenure, the insurer will give a death benefit.
-- In this plan, premium needs to be paid for the entire policy tenure.
Policy tenure depends on loan term; as you pay the premium, your outstanding loan (and associated sum assured) comes down year by year.
A 30 - year policy tenure means that the insurer is covering the risk of your dying for a longer tenure.
Reliance Super Money Back Plan - Reliance Super Money Back Policy is a non-linked participating and non-variable plan that provides life coverage within policy tenure of 10 to 50 years.
a person name «X» got term insurance rs. 20lakh during policy tenure if he robbed & killed by thief, then will nominee get sum assured 25lak?
if «X» included his wife in term insurance (eg.bajaj allianz offering inclusion of wife) then wife of «X» died during pregnancy due to some jaundice or any other disease (in policy tenure of his husband), will «X» get sum assured amount?
Super Money back Plan also provides life insurance cover for the full policy term by paying premiums for just half of the selected policy tenure.
Premium discounts are available upon choosing longer policy tenure of 2/3 years.
Surrender Value: - If halfway the life insurance policy tenure, you decide to discontinue the life insurance policy and take whatever money is due to you, the life insurer pays an amount which is called surrender value.
3) If I opt for maximum policy term is also very cheap and there is hardly difference of Rs 800 to Rs 1,000 (which is affordable to me) so it is WIN - WIN condition for me to go with policy tenure of up to 75 years.
The policy expiresonly in case of an eventuality as there is no pre-defined policy tenure.
Loading is the amount charged by critical illness insurance companies at the time of policy renewal if you have claimed in the previous policy tenure.
(Figures are for Rs 1 crore term plan of 25 - Yr policy tenure.
Dear Thevendhiran, Generally policy tenure can be upto the age of retirement.
No claim bonus is a percentage of the amount deducted from premium amount for policy renewal and no claims being raised during past policy tenures.
>> >> > Policy TENURE — Why you stressed to take term period only till 60 years (retirement) age but not to take extended term period till 70 years age.
The corresponding policy tenures will be nine, 12 and 15 years, while payouts will be made at three, four and five year intervals.
SBI Life — Smart Money Planner also offers the flexibility to choose from four plan options with different policy tenures and premium payment modes.
Premiums for critical care insurance are determined on the sum insured stated in the policy document, the complete policy tenure, gender and health status of the insured person.
While iProtect from ICICI Prudential has the highest maturity age till 75 years, MetProtect from Metlife has the maximum policy tenure of 35 Years.
Thus, the Total Policy Tenure is either 16 years or 21 years.
If no claim has been made under the Policy then the Company shall from the date of receipt of notice cancel the Policy and retain 15 % of the premium relating to the balance period for policy tenure more than 1 year and for policies with a tenure period of one year refund the premium as per the Table below:
So, the ideal policy tenure is 20 years (21 years — 1 year).
Loyalty Additions are paid as a percentage of average fund value where average fund value is the average of the fund values at the end of the last 36 months as on date of maturity.The loyalty additions are paid if the customer opts for a longer policy tenure like 15 or 20 years.For 15 year policy term, loyalty additions are paid as 2 % of the fund value and for 10 year policy term, loyalty additions are paid as 3 % of the fund value.
The Amulya Jeevan II plan does not have any surrender value that is policy can not be surrendered before the end of policy tenure as doing so will not fetch any benefit under this plan.
Final Addition Bonus may be declared at end of the LIC single premium policy tenure if a policyholder has paid all his or her premiums on time.
For example, Endowment Policies have a lump - sum maturity benefit, Money Back Plans have regular payments during the entire policy tenure as pre-defined schedule and Unit Linked Insurance Plans have an opportunity to choose your investments even in equity!
Reliance Super Money back Plan also provides life insurance cover for the full policy term by paying premiums for just half of the selected policy tenure.
If you install the safety device after you have bought the policy, the insurer will calculate the discount on a pro-rata basis for the remaining policy tenure as per tariff provision.