Sentences with phrase «sum assured»

Being the cheapest insurance type in the market, many different insurance companies offer term plans for a range of sum assured amounts.

You can use it to determine the amount of sum assured on a term insurance.

After the wedding of any member in your family there will be automatic increase in amount of sum assured for the period of 15 days before and after wedding without any extra charges.

There are no limits for the maximum amount of sum assured in a term plan.

Guaranteed maturity benefit includes sum of basic sum assured along with accrued guaranteed additions.

A medical examination is not mandatory, but can be required in certain cases such as sum assured as well as the age of the person.

If you bought a life insurance with sum assured of Rs 15 lakh by paying a single premium of Rs 1.5 lakh, you can claim the entire amount for deduction.

This plan also offers great discounts on premium for a higher sum assured on maturity, moreover additional discount on the lives of women policyholders.

If your age was below 45 years at the time of policy entry, the minimum sum assured amount for you will be 10 times your annualized premiums.

The plan offers survival benefit as a percentage of basic sum assured at regular intervals on the condition that all due premiums are duly paid.

For this reason, insurance providers put a limit to the maximum sum assured under this rider.

Under the latter, in case of a claim on the rider, the base sum assured gets reduced by the claim amount.

At maturity, the policyholder receives sum assured along with guaranteed additions and the plan is compliant with the new traditional product norms.

No limit on the maximum sum assured in case of Option A i.e. life protection, so the insured can go for a high level of a cover according to their suitability.

For example; increasing sum assured in case of marriage, parenting and higher education of kids.

This plan also pays sum assured plus accrued guaranteed additions, in case you are not around.

You can choose from the following two options to receive sum assured on death.

In case of unfortunate death of insured, his / her nominee would get sum assured as per policy document and as per the option chosen.

As mentioned above, there is a rebate for higher sum assured value.

Whereas in case of endowment plans, if the insurer dies before the maturity date, the nominee will get lump sum assured by the insurance company.

According to this clause the policy holder gets 25 % of the base policy sum assured if diagnosed with a terminal illness.

In a money back policy, the insured person gets a percentage of the total sum assured at regular intervals instead of getting a lump sum amount at the end of the term.

Under this rider, an additional death benefit is paid to your nominee additional to the base policy sum assured in case of any form of death.

In an endowment life insurance policy you get the maturity benefits (sum assured + bonus) only at the end of the tenure of the life insurance policy.

In addition to the sum insured on death, the nominee will receive the additional sum assured chosen at the time of inception in case of death due to accident.

Get lump sum amount equal to rider sum assured on diagnosis of any of listed critical illnesses as per your listed plan.

Under this Plan, the «Minimum guaranteed sum assured on maturity» is zero and no benefit is payable on maturity of the Policy.

In addition to that, there are bonuses declared by the insurer which keeps on adding to the basic sum assured which leads to a gradual increase in the life cover.

At your age, a Rs 50 lakh sum assured for 30 years will cost about Rs 7,000 per year.

This means that even if I am gone after paying a single premium, the entire sum assured of Rs. 1 crore is paid to you.

In case of death full sum assured amount will be paid out.

In some specific cases medical tests may also be required depending upon sum assured and the age of the assured.

It provides option that you can choose constant or increasing sum assured per annum according to your requirements.

In case of death during First Five Years of the policy: If Death happens before completion of 5 years, then sum assured will paid as death claim.

On maturity, some insurers offer sum assured or fund value, whichever is higher, while others keep the payouts for insurance and investment separate.

A 55 to 60 - year old who has met most of his / her financial goals can buy a reducing sum assured policy.

In addition to that, it comes with an accident death benefit rider, which provides for an extra amount equal to accident death benefit sum assured on death due to accident.

Term insurance is a pure life insurance product that acts as a protection plan by providing sum assured on the death of the life insured.

The paid - up sum assured along with accrued bonuses and guaranteed additions until the time you were paying all due premiums will be paid to you.

Offers partial withdrawal, flexibility to increase / decrease sum assured, and complete flexibility to increase chosen policy term.

The remaining part of sum assured after paying on death is given as monthly income for next 15 years.

Single premium insurance policies are generally marked as investment plans, which offers very low sum assured as compared to the term plan.

Because the more feature you will add, the premium amount will increase for the same sum assured value or other way.

The percentage of the additional sum would be calculated on the original sum assured amount.

The premium amount and sum assured remains constant all through the term of the policy.

Single premium policies usually offer less sum assured than regular premium policies.

This will also serve the purpose and even in a better way as this is a fixed sum assured plan.