Sentences with phrase «receive upon death of the policyholder»

One thing in common present in their policies is the opportunity that they afford the policyholders to either accumulate cash, and / or the provision for a death benefit that the family of the policy can receive upon death of the policyholder.

Not exact matches

However, these days only a handful of insurers offer LTC insurance, so another option may be life insurance with an LTC rider, which allows families to tap into the benefits they would receive upon the policyholder's death while he or she is alive and requires care.

A beneficiary is a person or entity entitles to receive claim amount and other benefits upon the death of the policyholder.

A nominee is the person designated by the policyholder to receive the proceeds of an insurance policy, upon the death of the insured.

In some cases, policyholders have a choice as to how the benefits are paid; they may receive either a lump - sum or periodic payments, depending upon the type of claim and benefit, but they are still entitled to any remaining cash value and death benefit in the policy.

on life insurance policies release a sizable chunk of the policy's death benefit to the policyholder while he / she is still alive, allowing the usage of the death benefit funds on valid diagnosis of one of the critical or terminal illnesses stated in the policy.These riders» critical / terminal illness payout is tax - exempt, and beneficiaries also receive the left over face value, untaxed, upon the policyholder's passing.

The nominee receives sum assured plus bonus (if any) upon death of the policyholder.

Case A: Death of Policyholder The proceeds received by the family member upon death of the policy holder is completely tax free under section 10 (Death of Policyholder The proceeds received by the family member upon death of the policy holder is completely tax free under section 10 (death of the policy holder is completely tax free under section 10 (10D).

The policyholder pays a regular premium, and upon their death, the survivor receives a monthly income for life, instead of a lump sum death benefit.

You receive the maturity benefit with bonus upon the maturity of the policy and your child receive the death benefit in case of death of the policyholder.