Sentences with phrase «receive simple reversionary bonuses»
The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is inforce.
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Participation in Profits benefit: This plan is eligible to participate in corporation's profits and receive Simple Reversionary Bonuses or any final additional bonus when a claim is made either by death or maturity provided the policy is active.
Answer: The policyholder shares the profits of LIC as this is a participating plan so as to receive Simple Reversionary Bonuses which are declared according to the experience of LIC.
Not exact matches
In case the insured dies after the completion of first 5 years of the policy, the nominee of the policy receives the basic sum assured + accrued guarantee addition + simple reversionary bonus + final reversionary bonus (if any), which can be paid as a lump - sum or as an annuity, or as a combination of two.
On the death of the policyholder, the beneficiary receives the following Death Benefits: (1) Death Sum Assured plus Accrued Simple Reversionary Bonus.
Maturity Benefit is paid if the person whose life is insured is alive when the policy matures, he or she receives 40 % of the Base Sum Assured plus accrued Simple Reversionary Bonus plus Terminal Bonus.
In the event of the unfortunate death of the Life Assured, the nominee shall receive Sum Assured on Death (as described below) plus the accrued Simple Reversionary Bonuses plus Terminal Bonus, if any, subject to 105 % of all premiums paid as on date of death and the Policy shall terminate.
Most money back plans offer a simple reversionary bonus that is declared at the end of a year and gets added to the overall bonus that the insured receives at the end of the policy period.
If the life insured outlives the policy's maturity date, he or she receives a maturity benefit, which is equal to the guaranteed sum assured plus the simple reversionary bonus and terminal bonus (if any).
Maturity Benefits: If the insured survives till the maturity date, the he shall receive the Base Sum Assured plus accrued Simple Reversionary Bonus plus Terminal Bonus.
He or she receives the Minimum Guaranteed Sum Assured plus the accrued Guaranteed Additions and Simple Reversionary Bonus and Terminal Bonus if any.
As a survival benefit at the end of policy term the policyholder receives guaranteed sum assured, vested simple reversionary benefit, terminal bonus (if any).
Maturity Benefit: If the policyholder survives till the end of the policy term, he shall receive maturity sum assured, that'll be the 40 % of the base sum assured, plus accrued simple reversionary bonuses plus terminal bonus, if any
He also receives Rs 40,000 plus Vested Simple Reversionary Bonuses & Final Additional Bonus as the maturity benefit.
Pure Income Benefit Option: If the life insured survives during the benefit payout period (starts immediately after completion of the premium payment term till maturity of the policy), he / she will receive Annual Guaranteed Income, Special Additional Bonus, & Simple Reversionary Bonus.
If single or both partners are alive during the maturity, they receive basic sum assured, along with vested simple reversionary bonuses and terminal bonus.
On survival of the life insured till end of the policy term provided the policy is in - force, the policyholder will receive Sum Assured plus vested Simple Reversionary Bonus and Terminal Bonus.
Raman will receive 20 % of Rs 5 lacs (Base Sum Assured) which is Rs 1 lac in the last three years plus Minimum guaranteed sum assured on maturity is 40 % of the base sum assured which is Rs 3 Lacs plus accrued terminal and simple reversionary bonus.
Scenario A: Raman Survives the Policy Term If Mr. Raman survives till the maturity of the policy term, he receives Final survival benefit installment + Vested Simple Reversionary Bonus + Terminal Bonus.
In case of survival till vesting or maturity of the policy, the life insured will receive the higher of sum assured plus sum of all guaranteed additions plus Simple Reversionary Bonus and Terminal Bonus OR Defined Assured Benefit.
If Mr. Raman dies during the policy term, his nominee will receive Rs 5 Lacs along with vested Simple Reversionary Bonus and Terminal Bonus.