Sentences with phrase «unpaid policy premiums»

However, you are given an option to revive the policy within the time period of two years from the first unpaid policy premiums» date.

Lapsed Policy Reinstatement: Lapsed policy can be reinstated within two years since the date of first policy unpaid policy premium subject to acceptance of the same by the insured company.

Not exact matches

With the premiums unpaid, the policy was no longer in force.

Your insurer can deduct unpaid premiums, loans you've taken against your policy and haven't paid back yet, and possibly surrender fees.

Of course, unpaid life insurance premiums can eat up the cash value; however, this objection is nonsense because this is a function of how the policies work and actually acts as a benefit.

In certain cases, if your policy lapses, you can restore it by providing acceptable evidence of insurability and bringing unpaid premiums plus interest up to date.

The length of time (usually 31 days) after a premium is due and unpaid during which the policy, including all riders, remains in force.

If you borrow against an existing policy to pay premiums on a new policy, death benefits payable under your existing policy will be reduced by the amount of any unpaid loan, including unpaid interest.

In case the insured dies during the grace period, the insurer is liable to pay the death benefit (coverage amount) to the beneficiary named in the policy, less any amount outstanding (including the unpaid premium).

Extended Term Insurance Extended Term Insurance may be provided if your policy terminates for unpaid premium and contains cash value at the time of termination.

An insurance policy can be revived within 5 years from the date of the last unpaid premium.

The policy lapses after the end of the Grace Period from the due date of the first unpaid premium.

In case of a participating policy, declared bonus will be added to the sum assured and unpaid premium will be deducted.

The revival of a lapsed policy is possible if the policyholder submits a written request for reinstatement within a timeframe of two years from the first unpaid premium.

«If we decide to make a write - off payment or replace your car under your policy, we will require you to first pay us the total unpaid balance of your premium as we have agreed to cover your car under the terms of the policy for the full period of cover.

The revival of a lapsed policy is possible if the policyholder submits a request for reinstatement within a timeframe of two years from the date of the first unpaid premium.

This is of particular benefit to policy holders in that their premiums are a reflection of the risk that the insurance company is exposed to, and while no - one wants to pay higher premiums this can be balanced against the need to ensure that premiums actually provide the benefits set out in the policy rather than going unpaid if the insurer were to fall into insolvency.

Revival of a lapsed policy is possible if the policyholder submits a written request for reinstatement within a timeframe of two years from the date of the first unpaid premium.

Allowed within a period of 2 consecutive years from the date of first unpaid premium but before the end of policy term on payment of all the arrears of premium together with interest (compounding half - yearly) at such rate as fixed by the insurer.

To revive a lapsed policy, you need to submit a request to reinstate it within a timeframe of two years that starts from the first unpaid premium.

The revival of a lapsed or discontinued policy is possible if the policyholder submits a request for reinstatement within a timeframe of two years from the date of the first unpaid premium and pays all due premiums.

If your policy has lapsed then the policyholder submits a request for reinstatement within a timeframe of two years from the date of the first unpaid premium.

The renewal of lapsed policy can be done if the insured submits a reinstatement request within a period of 2 years since the date due for the payment of first unpaid premium.

After three policy years, the policy acquires Surrender Value, which is the higher of the Guaranteed Surrender Value and the Special Surrender Value If the policyholder fails to reinstate the lapsed policy within the revival period of two years from the date of the first unpaid premium, the policy is terminated.

Grace Period: The period of time between a premium's due date and the date the policy will lapse if the premium remains unpaid.

A situation when a policy owner doesn't pay premiums and coverage terminates at the end of the unpaid premium's grace period.

Accidental death and AD&D policies very rarely pay a benefit, either because the cause of death is not covered by the policy or because death occurs well after the accident, by which time the premiums have gone unpaid.

Grace Period: The policy offers a limited period of time, i.e. 30 days since the date due for the payment of unpaid premiums.

Reinforcement of a lapsed insurance policy is possible in case the insured files a reinstatement request within a timeframe of two years from the date of the first unpaid premium.

It would be nice, though, if there was some rule built into the policy, as you say, that would allow an unpaid premium if the family can prove incapacitation at the time of the unpaid premium, especially in the case where the insured has paid premiums for years.

Your policy will be revived once you have paid your unpaid premiums with applicable interest.

With any kind of policy, if you surrender it, you'll receive the balance in the cash - value account, minus any loans or unpaid premiums.

Reinstatement - Restoring a lapsed policy to its original premium paying status, upon payment by the policy owner, with interest, of all unpaid premiums and policy loans, and presentation of satisfactory evidence of insurability by the insured.

In turn, years of unpaid premiums leads to years of additional loans, plus accruing loan interest, can cause the policy to lapse.

The lapsed policy can be revived within 2 years from the date of the first unpaid premium.

However, the policy can be revived within 5 years from the due date of first unpaid premium.

The lapsed policy can be revived within 2 years from the due date of the first unpaid of the premium.

Lapsed Policy Reinstatement: If the premium due remains unpaid by the end of the grace period, the policy gets lapsed and no life cover will be provided to you during lapse pPolicy Reinstatement: If the premium due remains unpaid by the end of the grace period, the policy gets lapsed and no life cover will be provided to you during lapse ppolicy gets lapsed and no life cover will be provided to you during lapse period.

You can revive your lapsed or Paid - up policy and the riders for its full coverage within 2 years from the due date of the first unpaid premium but before policy maturity, by paying all outstanding premiums together with the interest, as declared by us from time to time.

Premium payment: If you want to revive the life insurance policy, you need to pay the due unpaid premiums along with the interest on the delayed premium, if any.

Only an orphan policy that remains lapsed (i.e., premium remains unpaid after six months of the due date) at the time of allotment is eligible for re-allotment to another agent.

The revival of a lapsed policy is possible if a written request is submitted by the policyholder within a timeframe of two years from the first unpaid premium.

It is important to note that the policy can be revived within 5 years from the date of the last unpaid premium.

12 months from the date of policy revival, when the revival is done within 6 months from the date of first unpaid premium, suicide exclusion will not apply.

Policy Lapse: If the insurance premium remains unpaid during the grace period in the first 3 policy years, the insurance policy lapses (together with riders) from the due date of the unpaid prPolicy Lapse: If the insurance premium remains unpaid during the grace period in the first 3 policy years, the insurance policy lapses (together with riders) from the due date of the unpaid prpolicy years, the insurance policy lapses (together with riders) from the due date of the unpaid prpolicy lapses (together with riders) from the due date of the unpaid premium.

A lapsed policy can be reinstated by submitting a written request within two years from the date of the first unpaid premium.

The policy will be eligible for full death benefit for one year even if the premium is unpaid

The lapsed policy can be renewed if the insured person submits a request for renewal of policy within a period of 2 years» of timeframe from the date of the first unpaid premium.

If premiums remain unpaid at the end of the Grace Period, the policy lapses from the due date of the first unpaid premium.

An insurer will not settle a claim if your policy has lapsed due to unpaid premiums.