Sentences with phrase «previous year policy term»

NCB or No claim bonus is the reward offered by the insurer to the insured for making no claims in previous year policy term.

Not exact matches

With growth prospects for the world economy being revised up and inflation no longer falling, short - term market interest rates have risen on the expectation that central banks will unwind the accommodative monetary policy they had put in place over the previous year or two (Graph 4).
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The number of short - term policies sold in 2015 increased by almost 20 % compared with the previous year, according to the advisory group.
The bonus included in maturity is taken as declared for past years and previous year's bonus for future years of policy term.
So if they have earned an NCB of 30 % with a previous insurer even, in the previous year, ICICI Lombard will provide them the same bonus when they purchase their first long - term policy.
If a policyholder doesn't raise a claim in the previous year of his policy term, then they get a no claim bonus from the insurer as a reward.
In the previous section we look at the example of purchasing a $ 200,000 life insurance policy, either as a whole life policy at $ 2,000 per year, or as a term life policy at $ 250 per year.
In the previous section, we found out that LIC New Money Back Plan — 25 years fared badly if you survive the policy term.
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