You gotta take care of yourself, an' get your
life insured, an' take out an accident policy, an' join a buildin' an' loan society, an' a buryin' association--"
With improving mortality, a
life insured will pay premiums for longer on level premium life insurance and the insurer will pay out more annuity payments as annuitants live for longer.
Life insurance companies are using the data from wearable devices like FitBit and Nike+ FuelBand to better assess the health of the
life insured.
6 times the current amount of
life insured in the markets in the report, Citigroup said.
Exemption for specified micro insurance schemes has been expanded to cover all life micro-insurance schemes where the sum assured does not exceed Rs 50,000 per
life insured.
Cases of mismatch in the name of the
life insured in the application form and the linked bank account can also lead to delay in disbursal of the maturity benefit.
Comprehensive Accident Benefit Rider ensures additional protection and the benefits will be payable either on unfortunate death or dismemberment due to accident of
life insured.
The
life insured is the parent or grandparent and the beneficiary is the child/grandchild.
Under these policies, the sum insured plus bonuses are payable at the end of the specified number of years or at death of the
life insured if earlier.
Max New York Life will fund all future premiums, on behalf of the
life insured until policy maturity to boost the education fund thereby ensuring that the purpose for which the policy was originally purchased is accomplished.
Whole of life policies are designed to pay out a lump sum of money on the death of the
life insured whenever that occurs, although some policies may pay out the full amount on the person reaching a certain age such as 85 or 95 years.
The only thing needed is the co-operation, at the outset of the policy, of the
life insured.
