Sentences with phrase «premiums at the inception»
Suppose that you were charged a $ 6,000 premium at the inception date of a workers compensation policy that began on June 1, 2017.
https://www.thebalance.com/
New Term Assurance Rider - The New Term Assurance rider is made available on making the payment of an additional premium at the inception of the policy.
• Cover amount (Sum Assured): Rs. 1 Crore • Policy Term: Whole of Life • Premium Payment Term: Whole of Life • Annualized Premium at inception: Rs. 23,016 • Monthly premium at inception: Rs. 2,002 • Planned Life Stage Benefit Option: Yes
Recommended premiums at the inception of the policy are calculated using anticipated investment performance and expenses.
Not exact matches
Before fees and tax, the LIC's closed - end fund exits since inception has benefited from «realisations» at a weighted average 3 per cent premium to carrying value, a weighted average internal rate of return of 21 per cent, and return on equity invested of 1.6 times.
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.
Option to choose Extended life cover at inception by paying additional premium throughout the premium paying term.
Two Policy Term & Premium payment term options: The product offers you the choice of two Policy Terms of 20 years and 25 years with premium payment terms of 10 years and 15 years respectively at inception of your policy
According to the Department of Health and Human Services, since the inception of ACA, «premiums are growing at less than one - half the pace seen a decade ago.»
This can happen if the expected interest paid on the accumulated value of the policy is less than originally assumed at the time of purchase, or if other charges (i.e. mortality charges) increase beyond what is assumed when the premium is calculated at inception.
^ ^ Sum Assured = Sum assured multiple * Annualized premium ^ In case the life assured is a minor, risk cover starts immediately at inception of the policy.
PV (Future Premiums) is in some cases adjusted such that PV (Future Claims) = PV (Future Premiums) at the inception of the liability, yielding no reserve at issue.
Premium redirection is also allowed to redirect future premiums to a different fund than that chosen at the plan inception
Premium redirection facility is allowed from the second policy year to redirect future premiums into a different fund than that chosen at the time of policy inception under this SBI child plan
Premium redirection facility from second year such that future premiums go into a different fund than that chosen at time of policy inception
The Guaranteed Death Benefit is defined as higher of 11 times the annual premium or 105 % of the total premiums paid till the date of death or the Guaranteed Maturity Sum Assured chosen at the time of inception of the plan.
This Bharti AXA Term plan provides a unique feature of Family Care Benefit which states that if the policy is in force and at least 2 consecutive premiums have been paid post inception or reinstatement, the benefit will be applicable.
Premiums can be paid regularly for the entire duration of the plan under the Regular pay option or in one lump sum at the time of inception of the plan under the Single Pay option of premium payment.
Premiums will be allocated in two funds Equity Growth Fund II (an equity oriented fund) & Bond Fund (a debt oriented fund) at 75:25 ratio and the same will be re - balanced / re-allocated based on a pre-defined trigger event (15 % upward movement in NAV (unit price) of Equity Growth Fund II) since the previous rebalancing or from the NAV (unit price) at the inception of the policy, whichever is later.
a) Discontinuance within five years of commencement — If all the premiums have not been paid for at least 5 consecutive years from inception, the insurance cover shall cease immediately.
You will have the option to select the premium payment term only at policy inception and once selected, the option can not be changed.
Guaranteed Maturity benefit (GMB) is set at policy inception and depends on policy term, premium payment term, premium, age and gender.
An insurance plan where one - time premium is paid at the inception in lump sum.
A similar version of the earlier plan where premium is paid only once at then inception of the plan under the Single Premium payment option.
The reduced premium will be based on the age, lifestyle category (if applicable), policy term, premium payment frequency and sum assured of the surviving life assured as at the inception of the policy
Premiums under the plan can be either paid for the entire duration of the plan under the Regular Pay option of premium payment or in one lump sum at the inception of the policy under the Single Pay option of premium payment.
The policyholder and his family receive annual income after the premium payment period for the length of the policy term that had been chosen at the inception of the policy.
Another variant of the earlier Ujjwal Life Plan, under this plan, the premium is paid once at the inception of the plan under the Single Premium option of the plan.
The addition in premium depends on the coverage opted for as declared at the time of the policy inception
The premium is paid in a single lump - sum payment at the policy inception for the purchase of the annuity.
In case his death happens immediately after paying 7th annual premium, i.e. when he has turned 41 years old, his nominee would start receiving Rs 80,000 every month in the 7th policy year, which will increase every subsequent year, at a simple rate of 10 % of the monthly payout chosen at inception, till such time when Jeevan would have attained 60 years of age.
Assured Option: If this option is chosen at policy inception, then the Death benefit receivable by the nominee will be as follows: Basic Sum Assured + Top - up Sum Assured, if any, subject to a minimum of 105 % of total premiums paid to date (excluding service tax).
From the date of inception of the policy, your nominee or beneficiary shall be entitled to at least 80 % of the premiums paid, provided the policy is in - force.
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.
The premium rates will vary basis the Sum Assured option chosen by the Policyholder (Level Sum Assured or Increasing Sum Assured) at policy inception
The waiver of premium of rider is an option that may be offered at the inception of the life policy and for which an additional premium is charged.
a) Discontinuance within three years of commencement - If all the premiums have not been paid for at least three consecutive years from inception, the insurance cover shall cease immediately.
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.
Option to choose Extended life cover at inception by paying additional premium throughout the premium paying term.
Extended Life Cover Benefit: An option to choose for Extended Life Cover benefit at inception of the policy by paying additional premium throughout the premium paying term.
Usually, the customer has to opt for plan specifications like sum insured, policy term, premium payment term, premium payment frequency, etc. at the inception of the policy.
You can choose premium funding benefit at inception for:
Guaranteed Death Benefit is higher of (11 times the Annualised Premium **) or (105 % of all premiums paid by Policyholder as on the date of death of the Life Insured) or (Guaranteed Maturity Sum Assured chosen by the Policyholder at policy inception).
Annuity for joint lives (with return of single premium on death of the last surviving Annuitant): A fixed amount, guaranteed at the policy inception, is payable in case at least one of the annuitants is alive.
Annuity for Single Life (with return of single premium on death): A guaranteed fixed amount decided at the policy inception is payable to you throughout the life.
To avoid cancellation or premium up - rates to your policy it is always best to answer all questions truthfully and disclose all pertinent factors to the insurer at policy inception.
Exide Life Critical Illness Rider UIN: 114B009V02, Exide Life Accidental Death Disability and Dismemberment Rider UIN: 114B002V02 are optional riders which can be added at inception and policy anniversary by paying a nominal additional premium.