Sentences with phrase «policy the person insured»

To get the claim on the maturity of policy the person insured is required to submit a discharge form along with the original certificate of policy which is given by LIC in the favor of policyholder with it.

Not exact matches

Rudy Giuliani, for one, seems to think that given a tax deduction, a lot of people insured through their workplace will shift to private policies on principle, sucking up the extra cost at first, but ultimately driving the price down so the uninsured can eventually buy in.

Permanent insurance, which includes whole life and universal insurance policies, is for life: It provides a death benefit for as long as you pay the premium, but also may include cash value that can be accessed during the insured person's lifetime.1

«By choosing policies that shield against the very real dangers facing low - income neighborhoods and people of color,» Pastor said, «we will insure that climate policy will be effective for all of us.»

If they're a resident spouse, resident relative, or a minor child for whom you're responsible and who resides with you, coverage extends to those people under the definition of named insured per the policy document.

Centreville, VA Renters Insurance: The liability coverage on Lakeside Apartments renters insurance policy from Effective Coverage covers the insured person, whether or not he is in the residence at the time of loss.

Almost everyone insures their home, but industry statistics show that many people do not get the maximum value from their policy, because they do not insure the home for its full replacement cost.

Each time an insurer sells a new policy, it has to check the customer's driving record, credit score and other information so it can assess the risk of the person it's insuring.

Life insurance proceeds, which were paid to you because of the insured person's death, are generally not taxable unless the policy was turned over to you for a price.

Some companies use an average of the scores of both insureds when there are two married people on a policy.

Most people don't expect to incur liability, but the policy travels with you as the insured.

If that's the person with better credit, then the policy is priced accordingly — whether or not there's also someone named as an insured who might have bad credit.

Survivorship life insurance insures two people, typically a married couple, on one policy.

An additional insured is a person that enjoys the benefits of being insured under an insurance policy, in addition to whoever originally purchased the insurance policy.

Briefly, the named insured is, of course, the person to whom the policy is issued and who is insured against loss under the policy.

If your life insurance policy states three different people as the owner, the insured, and the beneficiary, then the death benefit could count as a taxable gift.

If no long - term care benefits are paid, then the policy pays out the full death benefit when the insured person dies.

The plan provides a free look period of 15 days under which the insured person can cancel the policy if he / she is dissatisfied with the terms and conditions of the policy.

The reason it costs money to add a roommate to a renters insurance policy is simply that insuring more people incurs more risk on the part of the carrier.

Term life insurance policies pay a death benefit if the insured person dies within the policy term, such as 10, 20, or 30 years.

Death Benefit - In case of uncertain demise of the insured person during the tenure of the policy the death benefit is provided to the beneficiary of the policy as basic sum assured along with vested simple reversionary bonus and terminal bonus if any.

With a life insurance policy, if the insured person dies, the life insurance company will pay out a death benefit to the beneficiaries.

It's also important to note that generally only the property of those people listed as insured under the policy is covered.

That's because liability is a third - party coverage designed to protect people who are not insured under the policy.

To get around this type of issue, one solution would be to make the husband both the owner of the policy and the person insured by the policy.

Which means that if the insured person dies within the first two years of the policy, the company will pay 110 % of premiums paid, but not the payout of the policy.

That means each person who lives there has a policy that lists them as the named insured.

Some policy forms might make small changes to the definition of an insured person, or of a covered peril.

Dear sir I am taking online plan but on company toll free no they tell me that in montly income plan policy we get sum assured at the insured person death & after that nominee also receive a monthly income for 10 years.

Spouses and relatives usually are rolled into the definition of the «named insured» in the policy document, because it's understood that you wouldn't buy a policy for just you, with the intention of leaving out people you are married or related to, and live with.

For example, if you are actively serving in the military, you can not be insured by Haven Life (still a great company for many other people), but you may get an excellent term life insurance policy from Prudential.

If there were to be a fire due to the negligence of the person who was not insured under your policy, there would be no liability coverage for them.

Liability is a third - party coverage, and it's designed to protect people who are not insured under the policy.

Direct carriers usually have lower age maximums than broker - sold plans, but many direct policies won't insure people over 65.

The inner - workings of cash value life insurance consists of a life insurance policy, which is a contract between the policy owner, the insured (often the same person), and the insurer, where the insurer agrees to pay a death benefit to the policy's beneficiary, based on the owner continuing to make the policy's premium payments.

Both people would be named insureds on the policy, and a check for a claim would be made out to both of them.

You'll also pick a beneficiary — the person (s) or entity who'll receive the death benefit from your policy if you die while insured.

Beneficiary: A person (s) designated by the policy owner to receive the proceeds of an insurance policy upon the death of the insured.

Paid - Up Insurance: An insurance policy that does not require future premium payments to provide the death benefit of the insured person.

Whenever you buy a life insurance policy there has to be an insurable interest between you and the person who's life you are insuring or designating as a beneficiary.

Second - To - Die Life Insurance: A type of life insurance policy that insures the lives of two people, typically a husband and wife.

Key person life insurance policies are taken out by companies on their employees, with death benefits that are paid to the company, rather than to the insured person or to their estate or heirs.

The policy owner may or may not be the same person as the insured, payor or beneficiary.

When the insured person dies, no matter at what age, the policy is paid to their designated beneficiaries.

These mostly have to do with surrendering the policy while the insured is still alive, the policy lapsing, or when the person being insured takes out a loan against the policy.

As long as the insured pays the premiums, which are locked in while the policy is in force, the policy will cover that person for their lifetime.

People with poor driving records or houses in high - crime areas cost more to insure because the insurance companies know that they are more likely to pay out on such policies.

The only time that there is coverage for a person not named on the policy may be when they are married or otherwise related to the named insured.

A life insurance policy covers one person, called «the insured» in insurance paperwork.

The policy's owner is the person who purchases the coverage on the insured.