Sentences with phrase «prevent policy lapse»

You should check with your agent before deciding not to make premium payments for extended periods because you might not have enough cash value to pay the monthly charges to prevent a policy lapse.

There is a target premium for ideal growth, and also a maximum (to avoid the policy becoming a MEC) and also a minimum to prevent policy lapse.

If you pay the Short Term No - Lapse Guarantee Premiums stated in your policy then the no - lapse protection that comes with the policy will prevent a policy lapse from 4 to 20 years depending on your age at issue.

Waiver of monthly deductions rider — This rider will pay your monthly premium for a certain period of time to prevent policy lapse in case of inability to pay due to disability.

There is a target premium for ideal growth, and also a maximum (to avoid the policy becoming a MEC) and also a minimum to prevent policy lapse.

If you pay the Short Term No - Lapse Guarantee Premiums stated in your policy then the no - lapse protection that comes with the policy will prevent a policy lapse from 4 to 20 years depending on your age at issue.

Not exact matches

The primary purpose of this provision is to prevent the unintentional lapse of your policy.

Overloan Protection Rider * Prevents the policy from lapsing (being discontinued) due to excessive policy loans.

Lapse Guard Rider: helps prevent a policy from lapsing when disbursements are being taken for an extended period of time in retirement.

When activated, the Overloan Protection Rider converts the policy to a «paid - up» status and prevents the policy from lapsing when the policy's cash surrender value is insufficient to cover monthly deduction charges due to significant loans or if any outstanding loans plus accrued interest exceed cash value.

This guarantee provides an extra layer of protection to one who pays the defined premium on time to prevent the policy from lapsing.

This is a good tool to prevent your policy from lapsing if the situation arises in which you are unable to me your policy premium requirements due to disability.

This grace period also prevents your policy from lapsing.

It prevents the lapse of the life insurance policy so the insured can continue to enjoy the benefits of the cash value and dividends to supplement his income.

Among the simplest methods to prevent this lapse in coverage would be to establish a suitable policy effective date.

With the creation of such norms, IRDA aims to protect the long - term interests of life insurance policyholders and to prevent intermediaries forcing lapsing, surrendering or making paid - up of an existing life insurance policy with the goal of canvassing or soliciting a new life insurance policy on the same life.

The plan, therefore, allows you to pay within Grace period to prevent your policy from getting lapsed.

If cash value growth falls below the minimum level of growth needed to sustain the death benefit, the policyholder is required to put enough money back into the policy to prevent it from lapsing.

To prevent income tax issues due to a policy lapse, you should make sure that you pay back any policy loans you take out against your life insurance policy.

The Overloan Lapse Protection Rider (OLPR) will prevent your policy from lapsing when, on any monthly anniversary, the outstanding indebtedness on the policy exceeds the policy's specified amount and is approaching the policy value.

It is therefore in the interest of those who have taken a life insurance policy and care for their dependents to prevent against lapsed policies.

To prevent a life insurance policy from lapsing each and every time a premium payment is slightly late, every state in the country requires that a life insurance policy first go through what is known as a grace period after a payment is missed.

At best it also prevents the inconvenience of the policy lapsing each time a payment was late.

• Waiver of premium rider: This rider prevents the policy from getting lapsed in case the policy holder fails to pay regular premiums due to some reason.

This will save your time and money, thereby preventing the chances of the policy lapse.

Hence, to avoid these circumstances and to prevent your LIC policy from lapsing, it's important that you keep a regular check on the status of your LIC policy.

Keeping a regular check on your LIC policy status will help you track its progress as well as prevent your policy from lapsing, in case you weren't able to make the premium payment on time.

Fast - forward to 2016, and the owners of these policies must continue to pay additional money into their universal life insurance policies to prevent their coverage from lapsing.

Fast forward to 2016 and the owners of these policies must continue to pay additional money into their universal life insurance policies to prevent their coverage from lapsing.

The rider allows the insurance company to work in conjunction with you to prevent more cash from being borrowed against the policy, thereby preventing a lapse.

However, you will need to ensure that the available cash is sufficient to prevent the policy being lapsed due to unavailability of cash.

However, if the cash value falls below a specific level, additional premium payments must be made to prevent the policy from lapsing.

This provision prevents the policy from lapsing if the policyowner inadvertently misses a premium payment.

Overloan Protection Rider: This rider can help prevent your policy to lapse because of an outstanding policy loan.