Sentences with phrase «surrender of policy»

TATA AIA Secure 7 allows surrender of policies before end of policy term.

TATA AIA Money Back Plus allows surrender of policies before end of policy term.

The benefits of your policy will cease upon surrender of your policy.

Policy Surrender: On surrender of policy, no surrender value is paid as the policy does not acquire any surrender value during the tenure of the policy.

In case of surrender of the policy, the policy requires surrender value post 1 year completion.

Surrender of the policy within the first five to 10 years may result in considerable loss because surrender values reflect the insurance company's recovery of sales commissions and initial policy expenses.

One doubt need to clear regarding surrender of Policy?

It can be used as collateral to borrow from the insurance company or can be accessed directly through a partial or complete surrender of the policy.

Guaranteed Income Plan does not allow surrender of policy.

Surrender of policy before maturity in case of Pension plans Let me tell you, it is not a good idea as it bear has two way tax implications.

Cash surrender value is the accumulated portion of a permanent life insurance policy's cash value that is available to the policyholder upon surrender of the policy.

The beneficiary will get the loyalty addition at the time of surrender of the policy or in case of insured's death.

If surrender of the policy happens after completing five policy years, the insurance cover ceases, the Surrender Value is paid immediately and the policy is terminated.

On surrender of the policy after the lock in period of five years, the total Fund Value, on the date of surrender, will be available to you as the surrender value and the policy will terminate.

Surrender of a policy happens if the Policyholder voluntarily decides to pre-close the policy before the date of maturity.

Cash - value life insurance offers the opportunity to access cash accumulations within the policy through withdrawals, policy loans, or partial or full surrender of the policy.

Loyalty addition is also considered during Special Surrender Value Calculation on surrender of policy during the term, only if the policy has completed five years and at least for five years full premium has been paid.

You are apply before the insurer for surrender of the policy alongwith Surrender Voucher and NEFT form duly filled in and signedalong with a cancelled cheque for their consideration and doing theneedful.

Because policyowners may access virtually the same amount of cash through policy loans as through surrender of the policy, loans are generally the better alternative if the policyowner expects the need for protection to continue.

Kotak Preferred eTerm Plan allows surrender of policies before end of policy term.

HDFC Life Guaranteed Pension Plan allows surrender of policies before end of policy term.

Cash Surrender Value for Deferred Annuity Products The amount payable to the policy owner upon surrender of the policy.

If you apply for surrender of the policy within 3 years from the date of commencement of policy, then the Policyholder's fund value of units shall be converted into monetary terms.

In case of surrender of policies, service tax is charged at 12.36 %.

Loyalty addition shall also be considered in special surrender value calculation on surrender of policy during the policy term, provided the policy has completed five years.

Additionally, interest or earnings included in partial and full surrenders of the policy are taxable at the time of distribution.

Policyholders are also able to access accumulated cash by a partial or complete surrender of the policy.

In case the Lock - in Period has expired, the provisions relating to surrender of Policy after the Lock - in Period shall be applicable.

The amount (stated in the policy) that is available in cash upon the surrender of a policy for cancellation before or after the policy matures.

BSLI Bachat Plan allows surrender of policy.

Upon surrender of this policy, this value may be reduced by a surrender charge, policy fee, or outstanding loan.

Whole life insurance DEFINED: a contact (i.e. policy) between the owner (who is most often also the insured) and the insurance company that covers the life of the insured until death or surrender of the policy.

The amount (stated in the policy) that is available in cash upon the surrender of a policy for cancellation before or after the policy matures.

Tax deductions under Section 10 (10D): Under this section of the Income Tax Act, the amount of sum assured plus any bonus (i.e. the policy proceeds) paid on maturity or surrender of policy or on death of the insured are completely tax free for the receiver, subject of course to certain conditions.

The withdrawal is deemed by the HMRC (Her Majesty's Revenue and Customs) to be a payment of capital and therefore, the tax liability is deferred until maturity or surrender of the policy.

The terminal bonus is awarded and paid at the maturity and sometimes the surrender of the policy.

You can calculate taxable gain by subtracting your cost basis from the proceeds you will receive upon surrender of the policy.

Six states — Kentucky, Maine, New Hampshire, Oregon, Washington and Wisconsin — have already passed various versions of a life insurance disclosure requirement, legally mandating that insurance carriers notify seniors in certain circumstances of the alternatives to lapse or surrender of their policy (e.g., accelerated death benefit or available riders, assignment of policy as a gift, life settlement, policy replacement, etc.).

The policy loan does not have to be repaid, but interest (as specified in the policy) will be charged and the total loan plus unpaid interest will be subtracted from policy proceeds if the loan is outstanding at the time of death or surrender of the policy.

The insurance company you have your life insurance policy with is the only company that will accept a surrender of your policy.

The benefits of your policy will stop upon surrender of your policy.

Aviva Corporate Life Plus does not allow surrender of policy.

Birla Sun Life Wealth Aspire Plan allows surrender of policy.

If Sheila didn't have the loan, she would receive $ 105,000 upon surrender of the policy; with the loan, she will only receive $ 75,000, because the remaining $ 30,000 will be used to repay the outstanding loan.

On surrendering of the policy; the policyholder will be paid a Guaranteed Surrender Value (GSV) which will be a percentage of the premium paid.

Surrender of policy before maturity in case of ULIPs and Traditional plans The tax implication on the amount received in case of surrender of policy depends on the number of premium paid.