Joint Life Policy definition

Joint Life Policy means this Policy if it is issued to provide life covers to two (2) lives i.e. the Life Assured and the Second Life Assured.
Joint Life Policy means this Policy if it is issued to provide life covers to two (2) lives
Joint Life Policy means a Policy in which there are two (2) Lives Assuredthe Primary Life Assured and the Secondary Life Assured.

Examples of Joint Life Policy in a sentence

  • If this is a Joint Life Policy, a separate form must be completed for each insured person whose beneficiary is being changed; however, each jointly insured person must sign.

  • Unit – IVPopular Investment Media – Bank deposits –Saving deposits, Fixed deposits, Recurring Deposits, Instruments of post office ,Savings certificates, Public Provident Fund , Company deposits – Life Insurance Schemes – Endowment policy, Whole Life Policy, Term Life Policy, Money Back Policy, Joint Life Policy, Children’s Insurance Policy, Group Policy, Unit Linked Insurance Plans – Income tax benefits with respect to payment of premiums.

  • In addition, if the Policy is a Joint Life Policy, the Participant's spouse shall submit to a medical examination if required by the Insurer.

  • First-to-die Joint Life: Policy that pays the face amount upon the first insured’s death.

  • Our data show the dearth of construction workers is causing builders to turn down work, submit higher bids and struggle to meet deadlines.This quarter, we dug deep into perceptions of a career in construction.

  • CHAPTER IV: Partnership Accounts :10 HrsDeath of a Partner, Joint Life Policy and Individual Policies.

  • In case of death of Life Assured (in a Single Life Policy or Joint Life Policy) due to suicide within twelve (12) months from the Date of Commencement of Risk or the date of latest revival of the Policy, whichever is later, then, the Claimant shall be entitled to receive the higher of 80% of the Total Premiums Paid and received till the date of death of the Life Assured or the Surrender Value, if any, available as on the date of death, provided the Policy is in-force.

  • Opening Joint Life Policy Account with Joint Life Policy A/c (Surrender value) Dr.To All Partners' Capital A/c (Profit sharing ratio)(Being surrender value of Joint Life Policy credited to all partners' capital accounts in their profit sharing ratio on retirement of a partner)Treatment in Balance Sheet: Now joint life policy account is prepared and its debit balance is shown in assets side of balance sheet.

  • If the Life Assured or Second Life Assured (in case of a Joint Life Policy) commits suicide, whether sane or insane, within one (1) year from the Date of Commencement of Risk or the date of latest revival of the Policy, the Policy shall be terminated by paying an amount equal to 80% of the Regular Premiums paid till the date of death, whether or not any beneficial interest has been created therein.

  • They had taken a Joint Life Policy of ` 2,50,000 with the surrender value ` 50,000.


More Definitions of Joint Life Policy

Joint Life Policy means a policy which pays upon the death of the second to die of the Participant and his spouse.
Joint Life Policy means a Policy in which there are two (2) lives assured – the
Joint Life Policy means a policy which pays upon the death of the second to die of the Participant and his or her spouse. (m) "Owner" shall mean ________________________________________________. (n) "Owner's Death Benefit" shall mean $__________________. (o) "Participant" shall mean _____________________________________________. (p) "Plan" shall mean the plan described in Section 8(a) below. (q) "Policy" shall mean the following Joint Life Policy or Policies or Single Life Policy or Policies on the life of the Participant that are issued by the Insurer(s): Insurer Policy Number Type of Policy

Related to Joint Life Policy

  • Life Insurance Policy has the meaning given in Section 6.11.

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • Credit life insurance means insurance on the life of a debtor in connection with

  • Life Insured means the person named in the Schedule, on whose life the Policy is effected;

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Policy Year means the period of time these Terms and Benefits are in force. The first Policy Year shall be the period from the Policy Effective Date to the day immediately preceding the first Renewal Date as specified in the Policy Schedule (both days inclusive) within one (1) year period; and each subsequent Policy Year shall be the one (1) year period from each Renewal Date.

  • Annuity Contract means a contract under which the issuer agrees to make payments for a period of time determined in whole or in part by reference to the life expectancy of one or more individuals. The term also includes a contract that is considered to be an Annuity Contract in accordance with the law, regulation, or practice of the jurisdiction in which the contract was issued, and under which the issuer agrees to make payments for a term of years.

  • CSR Policy means the present Corporate Social Responsibility Policy of the Company, which covers the activities to be undertaken by the Company as specified in Schedule VII to the Act and the CSR Expenditure thereon.

  • Policy Schedule means a schedule attached to these Terms and Benefits, which sets out, among others, the Policy Effective Date, Renewal Date, the name and the relevant particulars of the Policy Holder and the Insured Person, the eligible benefits, premium and other relevant details in respect of these Terms and Benefits.

  • Group long-term care insurance means a long-term care insurance policy which is delivered or issued for delivery in this State and issued to: