Sentences with phrase «policyholder dies in an accident»

In the unfortunate event where the policyholder dies in an accident, the rider sum assured is paid to the nominee, appointed by the policyholder.

For e.g. if you buy a term plan that assures you a sum of Rs. 90 lacs, and an accidental death benefit rider for 20 lac, then incase the policyholders dies in an accident, the family receives both the amounts.

Not exact matches

The accidental death rider pays an additional benefit if the policyholder dies in a covered accident.

For example, some policies state that if the policyholder does not die as a result of the accident and instead loses a limb, he / she will only receive a 50 % benefit payout, while losing two or more limbs would result in a full benefit payment.

So if a policyholder dies due to an accident, in this case one can get 50 Lakh + 50 lakh.

An accidental death benefit is a provision in a life insurance policy that stipulates that the insurance company would need to pay the beneficiary in addition to the death benefit if the policyholder were to die in an accident.

What happens if the nominee passes away before the policyholder, or both die together in an accident?