Sentences with phrase «year term insurance policy payable»

The actuarial present value of one unit of an n - year term insurance policy payable at the moment of death can be found similarly by integrating from 0 to n.

Not exact matches

This type of policy will pay out only a very limited benefit during the first few years the policy is in force, and then convert to a fully payable term life insurance policy for the remainder of the term.

Often, even if you've had trouble obtaining traditional life insurance due to health reasons, you will qualify for a mortgage term policy although the benefit may not be payable if death occurs within the first two years.

Any sum received other than as death benefit under an insurance policy which has been issued on or after April 1 2003 and if the premium payable in any of the years during the term of the policy does not exceed 20 % of the sum assured.

For insurance policies issued on or after April 01 2012, exemption would be available for policies where the premium payable for any of the years during the term of the policy does not exceed 10 % of the actual capital sum assured.

• Receive Cash — Generally payable annually in the form of a check on the anniversary date of the policy • Use Towards Premiums — Instead of taking the dividends as cash, you can apply the money towards your policy premiums • Let Dividends Accumulate — Means that you accumulate your dividends as interest and can withdraw anytime but will be required to pay taxes on any interest accrued • Buy Paid - Up Options — Means that you can use the dividends to buy additional life insurance of the kind you already have in place • Buy Additional Insurance — You can use the dividends to buy a 1 year term life insurance policy which would be provided as a separinsurance of the kind you already have in place • Buy Additional Insurance — You can use the dividends to buy a 1 year term life insurance policy which would be provided as a separInsurance — You can use the dividends to buy a 1 year term life insurance policy which would be provided as a separinsurance policy which would be provided as a separate rider

Reversionary Bonus: This bonus is declared at the end of each year by a life insurance company for its various policies and added on to the total sum payable to the insured party on the maturity of the policy or to his or her nominees in case the insured does not survive the term of the policy.

A Term plan with Return of Premium is a contract between the applicant and the Life Insurance Company, under which the applicant agrees to pay a certain amount of money (Premium) per year for a fixed period in order to receive a guaranteed amount of money (Sum assured) in the event of his death during the policy term, payable to his nominee (any family membTerm plan with Return of Premium is a contract between the applicant and the Life Insurance Company, under which the applicant agrees to pay a certain amount of money (Premium) per year for a fixed period in order to receive a guaranteed amount of money (Sum assured) in the event of his death during the policy term, payable to his nominee (any family membterm, payable to his nominee (any family member).

However any sum (not including the premium paid by the assessee) received under an insurance policy issued on or after the 1st day of April, 2003 in respect of which the premium payable for any of the years during the term of the policy exceeds 20 % of the actual capital sum assured will no longer be exempted under this section.