Sentences with phrase «remainder of the policy term»

Once Mr. Vikash filed a claim at the end of the 5th year, the sum assured will be locked in at 15 lakhs without any further indexing for the remainder of the policy term.

For mid-term endorsements, the 10 percent is prorated for the remainder of the policy term.

This policy does not require the surviving spouse to pay any further premiums for the remainder of the policy term.

You will then be entitled to a refund of any unearned portion of the remainder of your policy term but you would not be refunded for the period of time that the home was still covered.

Option 2: Higher of Sum Assured or 105 % of all the premiums paid + All regular premiums due for remainder of the policy term are waived and paid by the company (Premium Continuance Benefit) + The annualised premium is paid to the nominee at the start of each policy year (Income Benefit).

Not exact matches

With little new education policy expected in the remainder of NYC Mayor Bill de Blasio's first term — and a quiet session on education concluding in Albany — the debate over traditional public schools versus charter schools has shifted to a new battleground: school safety.

Each Section Committee shall have a Steering Group to (i) take action on policy matters between meetings of the Section Committee; (ii) annually submit to the Executive Officer for presentation to the Council an approved slate of nominees proposed for election as Fellows (see Bylaw Article I, Section 2); (iii) at four - year intervals, appoint the Section Secretary; (iv) in the event of a vacancy in the position of Section Secretary, Section Chair, Section Chair - Elect, or member - at - large, appoint a replacement for the remainder of the unexpired term.

With little new education policy expected in the remainder of Mayor Bill de Blasio's first term — and a quiet session on education concluding in Albany — the debate over traditional public schools versus charter schools has shifted to a new battleground: school safety.

That means the policy will continue in force for the remainder of the term but can not be renewed.

Because his term policy is still inforce, his wife, who is his beneficiary, receives $ 250,000 which not only helps replace his lost Social Security benefits, but also covers funeral expenses, medical bills, the remainder of their mortgage loan, and allows her to contribute money to their grandchildren's trust for college tuition.

If you make a change in the middle of your policy term, you'll only be billed for the additional coverage for the remainder of the term.

This type of policy will pay out only a very limited benefit during the first few years the policy is in force, and then convert to a fully payable term life insurance policy for the remainder of the term.

You could also add an additional 15 - year term policy to cover the remainder of your mortgage and both of your children's education.

With most of their business involving term life insurance policies, and the remainder originating from annuity investors, suffice it to say SBLI are experts in their field.

It is also sometimes referred to as term for life because it is a permanent life insurance policy that will maintain level premiums for the remainder of your lifetime.

Care Benefit: Under Option 2, Wealth + Care Option - on occurrence of any one of the 5 listed Critical Illnesses, all future premiums that would otherwise have been payable shall be waived for the remainder of the premium payment term and the company will continue to allocate units to your policy as if the premiums are being paid.

The insurance company will cover the remainder of the balance according to the terms in your policy.

Fortunately for Melanie, the LTD policy she bought when she was 25 covers her after her short - term disability runs out, so for the remainder of her recovery period she receives the tax - free $ 4,000 monthly benefit.

So, if a policyholder had purchased a Colony Term universal life 10 policy, and then they decided five years after purchasing it that they wanted to have coverage for the remainder of their lifetime, then the coverage extension feature would have allowed the insured to extend the death benefit protection guarantee to either age 90, age 100, or 105 — and, this could occur without the need for the insured to provide evidence of insurability.

The end result was that the policy would work like term life insurance coverage throughout the remainder of the no - lapse guarantee.

Now, term should be a majority of this, but if you see a need for insurance longer than what term offers, cover only this portion with a universal policy, and the remainder with term.

You could also add an additional 15 - year term policy to cover the remainder of your mortgage and both of your children's education.

However, it has the added advantage of giving back the policy holder's premiums, provided that the policy remains in effect throughout the remainder of its entire term.

Indexed universal life policies put a portion of the policyholder's premium payments toward annual renewable term insurance with the remainder added to the cash value of the policy after fees are deducted.

Where plan option is «Savings Plus», if the Life Assured is diagnosed to be suffering from any of the 35 Critical Illnesses, all future premiums that would otherwise have been payable under the base policy shall be waived for the remainder of the premium payment term

The benefit is generally paid in the form of a guaranteed income stream for the remainder of the individual's life (as in the above example), though alternative benefit forms may be provided depending on the terms of the actual policy.

This coverage can be purchased starting at age 0, and in many instances, the policy holder will have the opportunity of converting the term policy over into a permanent life insurance policy — which can then provide coverage for the remainder of the insured's lifetime.

Simply convert the term policy to a universal life or whole life policy and keep the insurance for the remainder of your life.

That means the policy will continue in force for the remainder of the term but can not be renewed.

Because his term policy is still inforce, his wife, who is his beneficiary, receives $ 250,000 which not only helps replace his lost Social Security benefits, but also covers funeral expenses, medical bills, the remainder of their mortgage loan, and allows her to contribute money to their grandchildren's trust for college tuition.

Unlike term insurance, a permanent life insurance policy will offer protection for the remainder of your lifetime — provided that you continue to pay its premium.

If you make a change in the middle of your policy term, you'll only be billed for the additional coverage for the remainder of the term.