Sentences with phrase «policyholder fails»

If the policyholder fails to pay his premiums even within the premium payment grace period, then the policy is subject to lapse.

If policyholder fails to make payment within the grace period, the waiting period of 2 to 4 years shall start afresh.

If policyholder fails to make payment within the grace period, the waiting period of 2 or 4 years shall start afresh.

If the policyholder fails to reinstate the policy within the revival period, the policy is terminated.

If a Policy acquires a Reduced Paid Up Mode and the policyholder fails to revive it within the Revival Period, then the policy will remain in the Reduced Paid Up Mode for the rest of the Policy Term.

If the policyholder fails to make the payments of his premium amounts even within those 30 days, then the policy would lapse.

If the policyholder fails to pay the premium within the due date, then a period of 30 days is provided as a Grace period from the first due date (15 days for those who have opted for monthly mode) of premium payment.

Answer: If the policyholder fails to pay the premium within the grace period during the first fifteen years of commencing the policy and no benefits will be paid to the policyholder.

If policyholder fails to make payment within the grace period then the policy lapses.

If the policyholder fails to make payment within the grace period, the policy will lapse.

If premiums for three policy years are paid, and subsequently the policyholder fails to pay the due premiums within the Grace Period, then the policy acquires Paid - up Value.

If the policyholder fails to pay his premiums due to any reasons by either to enforce anytime, the provisions under the plan shall not be available anymore to be a waiver of either of the party's rights herein nor in any way effect the validity of the whole or any part of the plan.

If premiums for two policy years are paid, and subsequently the policyholder fails to pay the due premiums within the Grace Period, then the policy acquires Paid - up Value.

When the policyholder fails to pay the premium within the grace period, policy gets lapsed.

If policy holder fails to pay the premium even after the expiry of grace period, the policy status will be changed to lapse or Paid - Up depending on the year in which the policyholder fails to pay the premium.

After three policy years, the policy acquires Surrender Value, which is the higher of the Guaranteed Surrender Value and the Special Surrender Value If the policyholder fails to reinstate the lapsed policy within the revival period of two years from the date of the first unpaid premium, the policy is terminated.

If the policyholder fails to make his payment within the allowed grace period, then the policy is subject to lapse.

If policyholder fails to make payment within the grace period, waiting period of 2 or 4 years shall start again.

Grace Period: In case of the policyholder fails to pay the premium on time, a grace period of 15 days (for monthly mode) and 30 days (for other modes) are allowed by the insurance company.

If the policyholder fails to pay his premiums even within the premium grace period, then the policy is subject to lapse.

If policyholder fails to make payment within the grace period then the new policy would be issued on the consent of policyholder and all the benefits will be void.

If policyholder fails to make payment within the grace period, the policy lapses

Lapsed Policy: If a policyholder fails to pay the premium on or prior to the due date, and doesn't pay the premium after the grace period too, the insurance provider ceases all the benefits provided by the insurance cover and abolishes it for the reason of non-payment.

This clause provides that if the policyholder fails to pay the premiums on a life insurance policy, the insurance company may automatically use the accumulated cash value to pay the premiums.

SumExtra from Vero is the first benefit available that truly addresses the underinsurance risk posed by policyholders failing to accurately measure the cost of rebuilding their home.

If the policyholder failed to pay his / her premium on time, then he / she has to clear all his / her dues within the grace period.

This is important addition because many renter policyholders fail to realize that flood damage is not the same as water damage.

A standard homeowners policy provides for full replacement coverage on your home, but many policyholders fail to take advantage of this benefit because they do not insure the home for its total replacement cost.

Not exact matches

Committee chair Margaret Hodge branded the Treasury's failure to pay out to policyholders «completely unacceptable» and accused it of «failing to learn the lessons of the previous government».

Canadian Common Law jurisdictions do recognize actions against insurers for failing to protect the underinsured interests of policyholders.

When a policyholder files a claim for a covered event, and the insurance company fails to honor that claim, it is called insurance bad faith.

Grace Period: A grace period of 15 days is allowedfor the payment of due premiums that the policyholder had failed to pay within the allotted period for premium payments.

During the process of liquidation, the assets of the failed insurance company are maximized to pay off creditors and policyholder of offset liabilities.

This applies to auto insurance only and is not available to drivers in Maryland or Michigan and is not extended to policyholders who have major violations or who fail to pay premium.

Should an insurance company fail, policyholders are protected up to certain limits.

These funds are used to bail out the policyholders of companies that fail.

The circular signed by IRDA stated, «It is observed that Insurance companies have failed to indicate consideration, compassion, and enthusiasm towards resolving the complaints received from policyholders» and other constitutional agencies.»

The family of a diseased policyholder is provided with the assured financial security, in case the insured dies during the policy term and fails to pay off a debt like education loan or even home loan.

The insurance proceeds that fail to reach policyholders or their nominees on time because of various reasons are the result of this unclaimed money.

Policyholders, being ignorant, fail to stick to the documentation, which results in difficulties in getting a cashless claim.

Grace Period: If the insured fails to pay premiums on time, then a grace period of 15 days is given to the policyholder, in monthly premium paying mode and 30 days for other modes.

After deciding this, the premium will be decided based on the maturity amount chosen and the age of the policyholder and you need to pay the premium for every term without failing.

As a policyholder, you have all the tools needed to weed out those companies that are doomed to fail.

These funds are for the protection of the policyholders in the event a company fails.

If the policyholder's health causes him or her to fail the medical examination the premiums will increase, often to rates above standard term life policies.

Policyholders in over 22,000 communities across the country depend on the NFIP to protect homes and businesses from torrential rain, swollen rivers and lakes, snowmelt, failing infrastructure, as well as storm surges and hurricanes.

Originally enacted in 2002, in response to the failure of insurance markets to offer terrorism risk coverage to commercial policyholders, the Terrorism Risk Insurance Act (TRIA) was extended in 2005, 2007 and again in 2015 — following a 12 - day lapse when Congress failed to complete their work on reauthorization at the end of 2014.