Sentences with phrase «surrendered by the policyholder»

Plans can be surrendered by the policyholder at any time, provided at least 1 full year's premium has been paid if premium paying term is less than 10 years or at least 2 full year premiums have been paid, if premium paying term is 10 years or more.

Not exact matches

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.

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.

In the case of premium payment term more than 20 years, the surrender value gets enabled once the policyholder completes 2 years by paying his premiums on time.

Surrender Values Surrender value is the amount paid by the insurance company if the policyholder voluntarily terminates the insurance policy before its maturity.

The insured - In the event or retirement, the policyholder can take tax - free income by loans and withdrawals from the cash surrender value of the policy.

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

A policyholder can frequently get more cash back by selling the unwanted policy to a life settlement company instead of surrendering it to the insurer.

In such cases, the surrender value is calculated based on pre-defined formulae and paid by the insurance company to the policyholder.

Policy Termination or Surrender Benefit: Policyholder is allowed to terminate the policy by surrendering it.

If the policyholder has committed fraud or misrepresentation, then the policy will be immediately cancelled by refunding the applicable Surrender Value.

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.

Policy Termination or Surrender Benefit: the policy may be surrendered by the Master policyholder but the member may continue the cover till the end of the term but there is no Surrender Value payable

The policyholder may terminate the policy anytime by surrendering the policy for a surrender value.

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

Surrender Value is paid by the insurer in case the policyholder wants to terminate the policy before its maturity.

The cash value payable by the insurance company on termination of the policy contract at the desire of Policyholder but before the expiry term is known as Surrender Value.

The NAV on the date of application for surrender or on the date when revival period is over (in case of compulsory surrender), as the case may be, multiplied by the number of units in the Policyholder's Fund as on that date will be the monetary amount

Mortality Charges: Mortality mortality charge is levied on Sum at Risk and it is deducted at the beginning of each month by cancelling the appropriate number of units from the policyholder's fund till maturity, death, discontinued or surrendered..

However, in case the group policy is surrendered by the master policyholder, the insurer shall give an option to individual members of the group, on such surrender, to continue the coverage and the insurer shall continue to be responsible to serve such members till their coverage is terminated / expires.