Sentences with phrase «policyholder during the policy tenure»

In consideration of nominal premium amount, it provides a death benefit in the form of guaranteed Sum Assured to the dependants upon the demise of the policyholder during the policy tenure.

If the there's an unfortunate demise of the policyholder during the policy tenure, his nominee receives the entire sum assured.

Not exact matches

The Policyholder can opt for this Rider either at inception along with Base Policy or at any Policy Anniversary under the Base Policy during its tenure.

In these policies, policyholders get a certain amount of money as payback at regular intervals during the tenure of the policy.

It offers periodical payment of partial survival benefits during the tenure of the policy as long as the policyholder is alive.

All the bonus amounts acknowledged at the end of the premium payment term will be paid out at the end of the policy term or on the policyholder's death during the policy tenure.

Let's take an example, if a policyholder doesn't make a claim during the tenure of his auto insurance policy, he becomes eligible for No Claim Bonus, on the basis of which, a certain rebate is offered on the payable premium.

Generally, premium payments of a policy remain the same during the tenure of the policy if things are unchanged with the policyholder.

Death Benefit - In case of unfortunate death of the policyholder during the tenure of the policy, the beneficiary of the policy receives the death benefit as the sum assured amount, which is 105 % of the total premium paid till demise.

If the policyholder survives the entire policy tenure, then on policy maturity, all the premiums paid during the policy tenure will be returned to the policyholder

Secondly, the plan offers an assured premium return, which means total premiums paid during the tenure of the policy are paid back to the policyholder.

Death Benefit: In case of sudden demise of the policyholder during the tenure of the policy, the Sum Assured at the time of Death along with the acquired Bonuses are paid to the person nominated by the policyholder.

If the policy tenure has not exceeded 1 year and the policyholder commits suicide during this time, only 80 % of premiums paid are refunded to the nominee.

The policyholder will have the option to take the survival benefit at any time on or after its due date but during the tenure of the policy.

A premium waiver benefit offers such an offering where the insurer pays for the premium costs if the policyholder expires during policy tenure and also pays out a death cover as a lump sum amount to the child on maturity.

It will be in use when the policyholder dies during the policy tenure, for which it is designed.

Child plans offer the benefit of waiver of premium, doing away with the premium obligation if the policyholder parent expires during policy tenure.

If the policyholder survives the policy tenure, then no maturity or survival benefit is payable at any time during the policy tenure or after the culmination of the policy.

If a policyholder of the Amulya Jeevan II Plan meets with death during the tenure of the policy, then it may apply to the beneficiaries or nominees of the policyholder the sum assured by the policyholder.

Buy a plan which waives off the premium for the remaining policy term if the policyholder dies during the tenure of the policy.

It may not provide return of the premiums paid during the tenure, but in case of the policyholder's demise, the policy provides death benefit to the beneficiary.

The main feature of LIC's New plan — Jeevan Umang is it provides annual Survival Benefits from the end of the PPT (Premium Paying Term) till policy maturity and also pays lump sum amount at the time of maturity (or) on death of the policyholder (during the policy tenure).