Sentences with word «policyholder»
A policyholder is a person or organization that has a contract or agreement with an insurance company. This agreement is called an insurance policy, and it provides protection and coverage for certain risks or losses. So basically, a policyholder is the person or entity that owns an insurance policy. Full definition
We could take a sample of policyholders for the ages 30 and 40, the sum assured is Rs 1 crore for a term of 20 years.
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The other types were developed for policyholders who did not like the idea of paying a premium for decades never to receive anything in return.
If policyholder dies in an accident, this rider brings an additional sum along with the basic sum assured under the policy.
This type of exclusion is commonly used by policyholders who live with someone who has a poor driving record and would significantly raise the premium.
No claim bonus is a discount given by policyholder for accidental - free driving.
Question / Comment: I'm looking for information on what happens when a life insurance policyholder dies with a policy loan outstanding.
A hefty sum assured would take care of all the family needs of policyholder in case the latter is not around.
In the agreement, health insurance companies cover medical expenses of health insurance policyholders as per their medical insurance policy documents.
The plan allows policyholders with an option to choose from different rider benefits for additional premium.
Many whole life insurance plans, in addition to providing the insured with fixed death benefits, also accumulate cash value as policyholders pay into the plans with their premium dollars.
A point - of - service plan is a health insurance plan for which policyholders pay less when they seek medical attention from health care providers who belong to the plan's network.
Some plans allow policyholders in certain circumstances to access their own death benefits while they're still alive, though it can be tricky and costly.
Insurance companies may also suspect insurance fraud when policyholders claim the loss of expensive items for which they have no documentation.
Cost of insurance charges tend to increase as a life insurance policyholder gets older.
This type of policy helps protect policyholders from costly out of pocket expenses or bills associated with an accident for which they are at fault.
Some travel insurance providers offer auto - renewal, meaning that policies will be automatically renewed if policyholders do not take any action to cancel them.
Moreover, as they require a higher premium payment, the insurer stands to make a profit on policyholders who never become disabled and claim their benefits.
Since it is a participating whole life policy, participating policyholders receive annual dividends.
No maturity benefits are payable in case policyholder survives the tenure.
Nevertheless, a life insurance policyholder needs to be mindful of his BMI if he wants to pay the lowest premium amount.
Many policyholders choose term life insurance coverage because it protects their children and spouse for the term of the policy.
In case of the unfortunate event of death of policyholder during the income benefit period, the remaining payouts will be made to the nominee.
Auto insurance policies are made up of many different types of coverage, some of which policyholders may either accept or decline.
Variable life insurance offers policyholders permanent death benefit protection along with an investment component.
Life insurance comes in many forms, designed to meet the needs of policyholders at various stages of their lives.
In case policyholder survives the policy period, they will receive the fund value existing on the maturity date.
Insurance companies may also suspect insurance fraud when policyholders claim the loss of expensive items for which they have no documentation.
This particular life insurance policy will also provide policyholders with the potential to build cash value using around 50 separate variable investment offers from top financial firms.
This rider that is attached typically to a life insurance policy protects policyholders from being left uncovered.
The rate hikes have caught many policyholders by surprise.
Should a life insurance policyholder pass away, a life insurance policy can provide financial support for your beneficiaries with a death benefit.
These products are designed to meet the needs of policyholders like tax saving, wealth creation, and protection based on the traditional platform.
There are many great benefits to being insured as a renter, and covered policyholders get a great deal of value for the premiums they pay.
Riders are available to help policyholders with meeting specific needs.
Same is the case with policyholder committing suicide Within 12 months from the renewal of the policy.
It is a fast servicing channel which can be used by existing policyholders also.
Money Back Policy: Money back policy is a plan where policyholder gets a life cover against the death along with periodic returns on sum insured.
Each policy will have different limits related to the potential changes, but this type of policy still gives policyholders more control over their life insurance.
Doing so protects you, the company, and other policyholders against the costs of those false claims.
Some companies offer Senior citizen discounts for policyholders aged 55 and older and many companies offer discounts for multiple policies that cover both auto and home policies.
As time goes by, the process of carrying out an insurance policy for a potential policyholder becomes customer - centric.
While policyholders rightly expect hurricane insurance that they pay for to cover their losses when a storm does hit, insurance companies use tactics that are meant to protect the company's interests.
Also, insurance companies like to tend to their investments and cater to regular premium paying policyholders before paying out to their elderly customer demographic.
If policyholder fails to make payment within the grace period, waiting period of 2 or 4 years shall start again.
Sadly, insurers will use many strategies to avoid paying out policyholders for their legitimate insurance claims.
An insurance company's financial strength is important for prospective policyholders because it points to the company's ability to pay out claims.
Disability clauses are necessary in life insurance policies because policyholders sometimes become disabled.
The fund options are particularly chosen by policyholder under all unit - linked plans.
A home is often an individual's largest purchase, so policyholders want a home insurance company with affordable rates and great coverage.