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.
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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.