Sentences with phrase «terminal bonus»
A "terminal bonus" is a sum of money that is given as an extra payment at the end of a certain period, such as when a person's work or investment comes to an end. Full definition
This plan will also cover the life of the insurer and at the end years your kid will get lump - sum amount in 4 installments with final terminal bonus if any.
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The Company may declare a discretionary terminal bonus which is payable on death or maturity of the plan.
You may also receive non guaranteed terminal bonus either on death or maturity.
Upon maturity, you receive terminal bonus and final instalment of the regular income.
You'll get terminal bonus upon termination i.e. maturity of the policy.
An insurance company may decide to pay low annual bonuses and a high terminal bonus.
It offers profits to the policyholder in the form of loyalty benefits, which are terminal bonuses payable along with death benefit or maturity benefit.
You may also receive non guaranteed terminal bonus either on death or maturity.
Maturity Benefit — On survival till the end of the policy tenure, the policyholder gets the remaining 40 % of the Sum Assured + accrued simple Reversionary Bonus + Terminal Bonus as Maturity Benefit and the policy terminates.
In case of an unfortunate event of death of the Life Insured during the Policy Term, the sum of benefits will be payable to the nominee which is Basic Life Insurance Cover + Accrued Non-Guaranteed Annual Simple Reversionary Bonus + Non-Guaranteed Terminal Bonus accrued till death.
On death, the Sum Assured on death and vested reversionary bonuses including terminal bonus if any is payable.
On survival till the end of the policy tenure, the policyholder gets the remaining 40 % of the Sum Assured + accrued simple Reversionary Bonus + Terminal Bonus as Maturity Benefit and the policy terminates.
At the time of maturity, the Sum Assured and the vested bonuses with Terminal Bonus, if any accrued, and accrued Guaranteed Additions is paid
In case of surrender, the cash value of Terminal Bonus shall be paid.
If Siddharth survives, he receives «3,02,243 at maturity (Sum Assured «1,69,943 along with accrued bonuses + terminal bonus at maturity @ 8 % of «1,32,300)
Along with compounded reversionary bonus company also pays terminal bonus which will be a percentage of the accrued Compound Reversionary Bonus.
The lump sum benefit comprises of the sum assured at maturity, and the reversionary, interim and / or terminal bonus amounts.
Scenario I - Maturity Payout: Sum assured plus vested bonus plus terminal bonus as maturity benefit, subject to a minimum of 101 % of the total base premium paid.
On maturity, the sum assured, accrued Guaranteed Additions, additional bonuses which includes interim bonus as well Terminal Bonus are paid
The Guaranteed Growth plan provides Terminal Bonus benefits at the end of the policy term.
These are reversionary bonuses added every year and interim bonus and terminal bonus added on plan maturity or on earlier death during the plan term.
Endowment insurance plans provide a cover against risk and offer guaranteed returns that generally include return of sum assured and bonus amounts that may be declared every year (called reversionary bonus) and at of the policy term (called terminal bonus).
Reversionary bonus, interim bonus and terminal bonus enhance the corpus payable under the plan.
The plan is eligible for the bonuses declared by the company.Interim bonus is payable wherever applicable.A Terminal Bonus may be added to a policy which depends on the actual future experience it is not a guaranteed benefit.
On survival of the life insured till the end of the policy term, the Policy Account Value including terminal bonus interest rate as calculated on the maturity date and it is payable as a lump sum.
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Maturity Benefits: On survival till the date of maturity, Guaranteed Maturity Benefit + Guaranteed Additions + Vesting Bonus + Interim Bonus + Terminal Bonus Where,
Guaranteed Smart Benefits, Simple Reversionary Bonus and Terminal Bonus further increase the corpus built
In addition to Simple Reversionary Bonuses, the Company may also declare Terminal Bonus from year five onwards.
The monthly income can be enhanced by converting the accrued Simple Reversionary Bonuses along with Terminal Bonus into level Monthly Income.
The insured does not have to worry about the policy lapsing or them being not eligible for reversionary and terminal bonuses due to non-payment of returns under this LIC single premium policy as they have already paid the same at the start of the plan.
The plan is eligible for the bonuses declared by the company.A simple Reversionary Bonus which is declared at the end of each financial year and is payable either on death or on maturity, whichever event happens first.The plan offers minimum 3 % guaranteed reversionary bonus.A Terminal Bonus may be added to a policy which depends on the actual future experience it is not a guaranteed benefit.
The company may also declare Non-Guaranteed Terminal Bonus which is also payable along with Maturity Benefit or Death Benefit.
On death, the Sum Assured on death and vested reversionary bonuses including terminal bonus if any is payable subject to a minimum of 105 % of all premiums paid
Scenario A - Maturity Benefit: In case of his survival till maturity of the policy, the Policy Account Value including terminal bonus interest rate as calculated on the maturity date and it is payable as a lump sum.
In case of demise of the life insured when the dependent is alive 20 % of the sum assured + guaranteed bonus + terminal bonus if any is paid to the nominee as lump - sum amount and the rest 80 % of the sum assured is utilized to pay annuity for 15 years and life thereafter depending upon the age of the handicapped dependent.
Dates of terminal bonus are usually announced by the insurance company.
If all due premiums are paid, then, in case of unfortunate death of the life assured during the policy term, the Sum Assured on Death plus vested bonus, if any plus terminal bonus, if any, will be payable.
Maturity Benefit — In case the policy holder survives the entire tenure of the policy then he / she will be liable to avail maturity benefit as final instalment of survival benefit along with terminal bonus plus vested simple reversionary bonus.
The company may also declare Non-Guaranteed Terminal Bonus which is also payable along with Maturity Benefit or Death Benefit.
When the policy tenure ends, the insured gets terminal bonus and simple reversionary bonus.
Higher of sum assured along with non guaranteed simple reversionary bonuses and non guaranteed terminal bonus paid as a lump sum or 105 % of all premiums paid
If Siddharth survives, he receives «3,02,243 at maturity (Sum Assured «1,69,943 along with accrued bonuses + terminal bonus at maturity @ 8 % of «1,32,300)
Along with the death benefit and maturity benefit the plan provides terminal bonus (if any) and simple reversionary bonus.
Guaranteed Additions, reversionary bonuses, interim bonus and terminal bonus add to the corpus
Bonuses once attached to the policy are payable on death, surrender or maturity as may be applicable.A Terminal Bonus may be added to a policy which depends on the actual future experience it is not a guaranteed benefit.
Terminal bonus as declared is payable at maturity of the policy.