Sentences with phrase «policyholder pays the premium for»

If the policyholder pays all premiums for three policy years and subsequently does not pay any more premiums even within the Grace Period, the policy will acquire Paid - up Value.

Limited Payment Whole Life Insurance: The policyholder pays the premium for a limited period of time, under the Limited Payment Whole Life Insurance plan.But, the life protection cover is for the whole life or till age 100.

If the policyholder pays the premium for at least complete 3 years, then the premium becomes paid - up value and goes on as reduced value.

Without Return of Premium: Under this term insurance policy, the policyholder pays premium for the stipulated period.

With Return of Premium: Under this term insurance policy, the policyholder pays premium for the stipulated period either monthly, half - yearly, yearly or as single premium.

Whole life insurance where the policyholder pays premiums for a specified number of years, or until death.

Not exact matches

A microsimulation modeling approach would, for example, allow FEMA to compare the price of NFIP premiums that reflect true flood risk — as called for in the Biggert - Waters Flood Insurance Reform Act of 2012 — with measures of policyholders» ability to pay.

Your premium not only pays for the cost of insurance, but is also invested in an account managed by the insurance company and shared with all other par policyholders in Canada.

Policyholders often pay their premiums annually instead of monthly, so be sure to check for payments at the start of the year.

Survival Benefit — Here, the regular monthly income that is chosen at the time of inception of the policy for 15 yrs after the end of the premium payment term is paid to the policyholder.

b) With Extended Life Cover: The policyholder also has the option to choose for Extended Life Cover benefit at inception of the policy by paying additional premium throughout the premium paying term.

Maturity Benefit: In case the Life Insured survives till the maturity of the Policy and all premiums are duly paid, then the Maturity benefit shall be paid as Sum Assured on Maturity to the policyholder for all premium payment term and policy terms.

A 28 - year old, non-smoking male will be required to pay premiums ranging from Rs. 7,400 to Rs. 9,000 for duration of 35 years (known as the policy term) or till maturity i.e. till the policyholder turns 70, whichever happens earlier.

A policyholder can also give up the policy for a return of premiums paid after five years if no long - term care benefits have been used.

For example, if you have been a policyholder with State Farm for less than 2 years and have one paid claim, your premium will increase 15For example, if you have been a policyholder with State Farm for less than 2 years and have one paid claim, your premium will increase 15for less than 2 years and have one paid claim, your premium will increase 15 %.

However, rather than having premiums that are paid for the rest of the policy holder's life, the policyholder instead chooses to pay for only a set period of time such as for 10 years, 15 years, or until he or she reaches age 65.

For those whole life insurance policyholders who have eligible policies, there is also the option of using dividends to help in paying some or all of the premium.

The policyholder will pay a set premium amount for the remainder of their life.

Life insurance policyholders pay a premium and elect a beneficiary who will be eligible for payout if they pass away.

Whole life insurance (also known as permanent life insurance) covers policyholders for their lifespan (assuming they pay their premiums on time and in full) and may generate cash value over time.

A Single Premium policy is the one in which the premium amount is paid in lump sum at the beginning of the policy as a return for the death benefit which is guaranteed to be paid up until the death of the policyholder.

Similar to whole life insurance, except it offers the policyholder the option to use the cash value to pay for premiums.

Unlike term, a permanent life insurance policy will stay in force, unless it is canceled by the policyholder or the premium stops being paid for the coverage.

Participating policyholders will have the option of purchasing paid up additional insurance, cash out, leave with the company to earn interest, or pay premiums for a period of time.

The hope is that being able to escrow the higher premiums will make them easier for policyholders to pay and manage.

Regular Premium Payment Term is suitable if Policyholder wishes to invest and accumulate money for more number of years, as premiums are to be paid for the entire Policy Term.

It costs more for the insurance company if a policyholder pays premiums monthly.

This is perfect for the policyholder always on the go and who might forget to pay their premium.

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.

Permanent insurance doesn't have an expiration date and lasts for as long as the policyholder pays the premiums.

If such an arrangement is planned properly, it might be possible for the policyholder to pay their annual premiums without the use of cash.

Life insurance coverage for which the policyholder pays an annual premium, generally for the life of the insured.

It usually makes sense for policyholders to pay at the longest period allowed — thus, thinking about premium reserves as having a duration of half a year on average makes sense.

In addition, funds from the cash value component can often be used for paying the policy premiums — alleviating the policyholder from having to do so out of pocket.

From an outsider's perspective, the basis for this articulation of the right of action misses a fundamental aspect of the freedom of contract: in most instances, the policyholder chose the minimum statutory limits in order to pay the lowest amount of premium.

«Review of the «Assurance of Discontinuance» provides rich, indeed stunning, detail into how business was done at the expense of corporate policyholders in particular whose premiums were sufficiently large as to make bid - rigging, kickbacks, lying, and cheating lucrative for the participants — both the individuals whose bonuses and power reflected their success in business and the companies that employed them that generated large premiums from the widespread conspiracy and corruption endemic to the top - tier of the insurance brokerage industry and the insurers that paid them.»

The policyholder agrees to pay the premiums for insurance, and the insurance company agrees to pay claims unless one of the policy exclusions applies.

The main dangers of such an attempt are twofold: one could get carried away and draft legislation that is so protective of consumers that enacting it becomes unrealistic; and one could make it more expensive for insurers to distribute the relevant insurance, which would naturally result in policyholders having to pay higher premiums for the insurance.

Coverage remains in force for the policyholder's entire life as long as premiums are paid.

Policyholders are allowed to pay lower premium rates for the first few years, then pay more after the stipulated time.

So, if the policyholder is unsatisfied for any reason, they can simply return the policy within 30 days, and Globe Life will fully refund the premium that was paid in.

The amount of premium that is owed to an insurer for a policy, but which has not yet been paid by the policyholder.

As you continue to pay your premiums monthly, you'll receive one reward mile every month for as long as you remain a CoverMe Critical Illness policyholder.

Insurers allow policyholders to pay premiums over an extended period of time because they can extract an installment fee for the privilege.

For instance, should a policyholder pass away within the first year of coverage, the beneficiaries may only receive what was paid in premiums.

Dividends can be grown over time, and when policies are held for long enough, they can offset a significant amount of the money policyholders pay toward the premium.

Motorcycle insurance is a contract between the policyholder and the motorcycle insurance company, whereby the policyholder pays an agreed upon premium, and the motorcycle insurance company agrees to pay for any motorcycle - related losses that may occur as outlined in the motorcycle insurance policy.

At this point, the policyholder can keep the policy for as long as they continue to pay premiums.

The only pre-condition for revival is that the policyholder should have paid the premium for at least the first three policy years.

In a single premium policy, a policyholder needs to pay premium only once, while he or she is covered for its term.