Sentences with phrase «received by the policyholder»

Travel Protection coverages (except Pre-Departure Trip Cancellation and Post Departure Trip Interruption) will take effect on the later of 1) the date the plan payment has been received by the Policyholder; 2) the date and time you start your Covered Trip; or 3) 12:01 A.M. Standard Time on the Scheduled Departure Date of your Covered Trip.

• Income inclusion - If the contract does not meet the life insurance contract definition, then the income generated in the contract in every taxable year will be considered as ordinary income accrued or received by the policyholder.

The premium paid for the fund are tax - free under the Section 80C while the claims received by the policyholder are tax - free under the Section 10.

The dividend received by the policyholder can be used in several different ways.

Both these types of bonuses help to increase the overall payout received by the policyholder of the money back plan.

This is in case where the damage to the car is so much that the claim amount received by the policyholder is much less than the actual value of the car.

Loyalty Additions are received by the policyholder if all due premiums have been paid until maturity.

Benefits received by the policyholder on the completion or during the Policy Term are called Survival Benefits.

Not exact matches

As dividends are treated as a return of premium by the IRS, they are not taxable to the policyholders who receive them.

Other Unique Features: All Safeco policyholders receive reimbursement for first aid up to $ 10,000, accident forgiveness, and a diminishing deductible that is reduced by $ 100 each time the policy is renewed for a maximum of $ 500 or five years.

However, an option now exists which enable policyholders to receive amounts more than cash surrender value by selling the policy on the life settlement market.

In case of unfortunate death of the Life Insured the death benefits of the policy are received by the nominee or the Policyholder.

If the policyholder dies within the time frame set out by the insurance policy, their beneficiaries will receive the death benefit.

If the policyholder cancels the policy before the end of the surrender period, it is not likely the policyholder will receive any amount of the cash value because these costs are incurred by the insurance company to set up the policy.

Claiming that the policyholder would receive bonuses being distributed by IRDAI if they purchase an insurance policy and wait for a few months after which the bonus would be released by IRDAI.

When the policyholder dies, his or her beneficiaries will still receive the death benefit, but it will be reduced by the amount already used for medical care.

When a policyholder dies, the death benefit received by the nominee in case of type 2 ULIP is equal to sum assured plus fund value.

Wherein, if the policyholder passes away, 100 % of the purchase price net taxes and cesses are received by the person you nominated.

Payment of Income: Annuity income is paid after Kotak Mahindra Old Mutual Life Insurance Limited receives of a «Certificate of Existence» signed and submitted by the policyholder every year as per the format and procedure laid down by it (the insurance company)

The policyholder can nominate a person (the beneficiary) to receive the Death Benefit in the event of the demise of the life insured or make a change in nomination at any time during the tenure of the plan, provided the plan is in force, by submitting a written request to the insurance company.

As a mutual insurance company, SBLI is essentially owned by its policyholders — and because of that, policyholders may be eligible to receive dividends.

By using an agent to purchase insurance, the policyholder receives more personal service.

So this is how riders work — Rider + insurance plan = enhanced cover As you would have understood by now — riders are contingent in nature.They are «activated» by specific events — the events they are meant to cover.If and when the event is triggered, the policyholder receives the rider benefit.

Other Unique Features: All Safeco policyholders receive reimbursement for first aid up to $ 10,000, accident forgiveness, and a diminishing deductible that is reduced by $ 100 each time the policy is renewed for a maximum of $ 500 or five years.

While the policyholder has met his or her obligation by paying for the policy and, thus, the benefits that he or she could receive, an insurer has only just begun its obligation when it receives the premium.

Nominee is the person selected by the policyholder to receive the benefit in case of death of the life insured.

Nomination is a right conferred on the life insurance policyholder to appoint a person or persons to receive the policy money in the event of the policy becoming a claim by death.

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

Depending on the insurer's work policy you can become a policyholder by signing an agreement online or receiving a letter in your mailbox.

Mutual companies are actually owned by the policyholders who are considered shareholders and can receive dividend payment distributions and may not be penalized by an increase in premium due to losses.

The claim / maturity amount received by the beneficiaries or bonus in the hands of the policyholder is tax - free under Section 10 (10D) of the Income Tax Act.

In addition to the guaranteed cash value, a participating policy's cash value can also include dividends declared by the company, which the policyholder can choose to receive in cash or to reduce premiums, or to add to the policy's cash value growth.

In case of death of the life insured, the nominee will receive a lumpsum payout that was chosen by the policyholder, which is 100 % of Sum Assured.

A: By using an independent agent such as Novak Insurance Agency, the policyholder receives more personalized service.

When IUL policyholders decide to put funds in an indexed account — rather than receiving an interest rate chosen by the life insurance company, their cash value may be eligible to receive what is known as «indexed interest credits.»

The circular signed by IRDA stated, «It is observed that Insurance companies have failed to indicate consideration, compassion, and enthusiasm towards resolving the complaints received from policyholders» and other constitutional agencies.»

In such cases, the nominee receives 80 % of the premiums paid by the policyholder.

However, prospective policyholders also have the option to receive quotes by calling a company representative.

When the insurance company receives an application from a policyholder seeking portability, it will provide the latter with a proposal form, a portability form, and details of various products offered by it.

If the policyholder commits suicide within 12 months of the revival period, then the Surrender Value or 80 % of the premiums paid by the policyholder is received.

Once the policy is canceled, the policyholder receives the premium of the policy after deducting the proportionate premium for the risk borne by the company.

Policyholders will enjoy the benefit of receiving bonuses from the corporation depending on rates declared by LIC.

Nominee is the person nominated by the policyholder to receive the benefit under a life insurance policy during settlement of claim.

If the policy is surrendered (cancelled), the policyholder will receive the cash value accumulated by the insurance plan.

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 (10D).

In case of linked plans, if the suicide is committed by the policyholder within 12 months from the start of the policy in the course of the policy term, then the nominee is eligible to receive 100 % of the policy fund value.

A nominee is a person designated by the policyholder to receive the claim proceeds in the event of the policyholder's death.

If the insured dies during the period of receiving installments, then the remaining installments are paid to the beneficiary or the nominee as mentioned by the policyholder.

However, there's a general rule of thumb: insurance agents receive a first year commission paid immediately after the first insurance premium is paid by the policyholder.

The MAI operates as a mutual - it is funded by the premiums received from policyholders and from their investment portfolio, so no one carrier insurers you.