Sentences with phrase «premium by the due date»

If you fail to pay your premium by the due date, you typically have a short time frame in which to do so before the policy lapses.

Pay your premium by the due date, and your policy automatically continues for the time period shown.

Grace Period: If the insured fails to pay his insurance premium by the due date, then a grace period of 15 days is allowed for monthly premium payment mode and a grace period of 30 days is allowed for annual mode of premium payment.

You know that you have to pay premium by due date in order to avoid the policy from getting lapsed.

When you pay your premium by the due date, your policy automatically continues for the time period shown, usually 12 months.

Not exact matches

Any insurance company or surplus lines broker that fails to pay the Insurance Premiums License Tax by the March 1 due date is subject to a ten percent penalty that shall be added to the amount of the unpaid tax liability.

Most concerns raised by commenters opposed allowing premium payments after the coverage effective date due to the uncertainty of payment for services provided after the coverage effective date if a premium is not paid and the enrollee is subsequently cancelled.

If a premium payment is not received by the due date, benefits will continue for up to two months.

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.

Two, the plan still continues and the premiums are paid by the insurance company on every due date.

If the chosen Benefit Payment Preference is Save - n - Gain under any of the plan option, in case of death or critical illness suffered by the insured during the tenure of the plan, the Sum Assured is paid to the beneficiary who is the child, all future premiums are waived off and 50 % of the premiums are paid by the company towards the plan and 50 % to the beneficiary on every premium due date and the plan continues.

There's no grace period for the first month's premium - it has to be paid by the due date in order to activate the policy.

Grace Period: The insured is allowed a grace period of 30 days if he fails to pay his premiums by the premium due date.

If you aren't able to make the premium payment by the due date (or within the grace period) your policy will lapse.

It's important to pay your monthly health insurance premium in full to your insurance company — not the Health Insurance Marketplace — by the due date.

You may even know your premium due date by using our Missed Call service.

In addition, both the amount of the premium and the date that premiums are due may also be changed by the policy holder.

Suppose the due date of premium payment is 1 July 2016, then he has to pay it by 16 July 2016 to renew or continue a policy in force without loss of continuity benefits, else his risk cover may lapse.

Term life insurance premiums must always be made by the due date, or the policy will promptly go into grace period status.

A grace period of 30 days is provided by Kotak Life Insurance company in case you miss the premium payment due date.

You can revive your lapsed or Paid - up policy and the riders for its full coverage within 2 years from the due date of the first unpaid premium but before policy maturity, by paying all outstanding premiums together with the interest, as declared by us from time to time.

The policyholder may revive a policy by the payment of the due premium (s) at any time within a period of 30 days from the date of receipt of the revival notice but before the maturity date of the policy subject to satisfactory medical and financial underwriting.

You will receive the Sum Assured chosen by you and the accumulated Guaranteed Additions as maturity benefit on the maturity date, provided all due premiums have been paid.

Grace Period: If the insured fails to pay his monthly premiums by the premium due date, then shall be allowed for a grace period of 15 days to pay his premiums; and if he fails to pay his premiums of any mode other than monthly then he is allowed a grace period of 30 days to pay his premiums.

In case the premium (s) are un-paid and the policy is revived during the revival period by paying all due premiums, the Loyalty Additions due - but - not - allotted during the period the Policy was in Discontinuance will be added to the fund as on the date of revival.

And, in the case of other premium paying modes, if the insured fails to pay his premiums by his premium due date then a 30 days grace period is allowed for his premiums.

Lapsed Policy Reinstatement or Revival - A lapsed Policy can be revived by you within 2 years from the due date of the first unpaid premium subject to the terms and conditions as specified from time to time.

However, one should be careful and avoid policy lapse which can occur by missing premium payments as there will be no insurance agent to remind you of your premium payment due date.

Suppose a policyholder does not pay a premium for e-term policy subscribed by him / her on the due date then the policy will still remain in force for the grace period that is 30 days in this case.

Lapsed policy reinstatement: The policyholder can reinstate the lapsed policy within 3 years by paying all the due premiums from the date of first unpaid premium

The beneficiary need not pay any future premiums as 50 % of future premiums will be paid by the company towards the policy and the remaining 50 % will be paid to the beneficiary on the premium due date.

In case premium is not paid by the due date, a grace period to pay the premium is given for payment of the outstanding premium.

In some cases, if the policyholder dies just before the premium due date and the final payment is missed, the grace period will give the survivors a little room to correct the oversight by making the payment so the policy is not be canceled.

If death occurs due to suicide within 12 months from the date of exercising life stage option (resulting in the increase in death benefit), the death benefit is the aggregate of the following: Original Total Sum Assured, plus any increased Sum Assured purchased by exercising the life stage option prior to 12 months from the date of death (due to suicide); plus 80 % of the premiums paid for the last increase in Sum Assured.

To use your Blanco renters insurance in the proper manner, you will need to always pay the Texas renters insurance premiums by the date that they are due.

Sum Assured chosen at inception, plus • Any increase in Sum Assured by exercising the Event based Life Stage Option prior to 12 months from the date of death (due to suicide); plus • 80 % of the premiums paid (excluding taxes) for the last increased additional Sum Assured.

However, regardless of the amount that you are paying, it is very important to pay the insurance premiums accurately and on time by the date that they are due.

You can set automatic debit option of your premium amount on the premium due date using NEFT / Bill Pay facility provided by your bank.

You may redirect your future Premiums between available funds at any time by giving us a written notice before the premium due date.

In case the premium is not paid by the premium due date, a Grace Period of 30 days from the due date of first unpaid premium will be allowed.

You should be able to reinstate the policy within a period of 6 months by paying all premiums due from the lapse date to the current time.

You will have the option to reinstate the policy with - in 2 years from the date of first unpaid premium by paying all the due premiums plus interest on delayed premiums at the rate of 9 % p.a compounded monthly along with the revival fee of Rs 250 plus taxes.

Smart Benefit: Units equivalent to the installment premium is allocated by the Company on the subsequent premium due dates.

You may redirect your future premiums between available funds at any time by giving a written notice before the premium due date.

a. No need to remember the premium due dates or worry of issuance of cheques b. Experience complete peace of mind by ensuring that your policy does not lapse c. Enroll for Direct Debit premium payment option in 2 simple steps: i.Download the Direct Debit Mandate or collect it from any of our Branch offices ii.Submit the duly completed Direct Debit form at your nearest AVIVA branch office.

Usually for a few months after the lapse they will allow a reinstatement by simply completing a good health statement (attesting to no health changes) and, of course, any premium due since the original due date.

Now, you can check your policy details by clicking on a policy number in the list, You can see details like policy name, table number, policy term, sum assured, next premium due date etc. as shown in the following figure.