Sentences with phrase «year of surrender»
One of my clients has an indexed universal life policy with three more years of surrender charges, as follows:
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The year of surrender will decide the value of GSV.
Surrender Value is calculated based on the year of surrender from the policy subscription date.
Not just that, aggregate amount of deductions of income (allowed under 80C in earlier years) shall be deemed investor's income in the year of surrender and taxed accordingly.
Policy termination or Surrender Benefit: Surrender Value is only applicable under Single Pay plans where the Surrender ranges from 60 % -100 % depending on the year of surrender.
The Guaranteed Surrender Value will be expressed as a % of premiums paid + % of vested bonuses and accrued Guaranteed Additions depending on the year of surrender.
The Surrender Value will be calculated as a % of the Maturity Benefit ranging from 46 % - 92 % depending on the year of Surrender
The Surrender Value will be calculated as a % of the Single premium paid ranging from 70 % - 180 % depending on the year of Surrender
The applicable % depends on the year of surrender
In addition, surrendering within 2 years of the commencement of the policy will lead to the tax deduction on the premium paid under 80C being added back to your income in the year of surrender.
The percentage depends on the year of surrender, and the minimum percentage is 30 % (surrender upon completion of 3 years), the percentage increases as the year's increase.
The guaranteed surrender value is represented as a percentage of premiums paid a percentage of vested bonuses and accrued guaranteed additions that depend upon the year of surrender.
VSRB is paid only if applicable, and its value is equal to the product of accrued bonuses and surrender value factor, the latter depends on the year of surrender and minimum (surrender upon completion of 3 years) is 15.28 %, the factor goes on increasing as years increase.
The percentage, however, depends upon policy term, year of surrender and as specified in the table.
Surrender / Discontinuance Charge: The applicable surrender charges depending upon the year of surrender and are applicable if the policy is discontinued in first 4 policy years.
Guaranteed Surrender Value depends on the year of surrender.
Surrender Value is defined as higher of Guaranteed Surrender Value or Special Surrender Value.The GSV / SSV factors will depend on the year of surrender and not on the date of premium discontinuance.The GSV will be a percentage of Total Annualised premiums paid as expressed in the sale brochure
As I understand, Loyalty addition will be announced only in the year of surrender, maturity or death.
The Guaranteed Surrender Value is a percentage of total premiums paid and it depends on the year of surrender.
The GSV shall vary as per he year of surrender.
The Guaranteed Surrender Value will vary depending on the year of surrender.
The guaranteed surrender value is dependant on the policy term and year of surrender.
The surrender value is dependent on the year of surrender and premium payment term.
The surrender value depends upon the year of surrender.
The policy acquires a Surrender Value immediately only in case of single premium.The surrender value depends on the year of surrender.
If the single pay life insurance policy is surrendered within two years since inception, the tax deduction allowed in the past under Section 80C will be considered as income of the policyholder in the year of surrender and applicable tax will be levied.
The deduction claimed earlier will become chargeable to tax in the year of surrender of the policy.