Examples of Master Policy holder in a sentence
Employee means a person who undertakes to work or provide services to an Entity under an express contract of employ- ment and receives salary or wages in compensation Employer-Employee group means group where an employer-employee relationship exists between the Master Policy- holder and the Member in accordance with the relevant laws.
However the rights and obligations of the Company and the Master Policy holder shall continue as theretofore during the notice period.
This Master Policy may be discontinued at the option of the Master Policyholder or the Company in respect of Coverage of prospective loan borrowers of the Master Policy holder by giving the other party at least three months prior notice in writing, or such shorter notice or subject to such terms and conditions as may be agreed to in writing between the Master Policyholder and the Company and duly endorsed on the Policy.
When the Master Policy holder has not effected such Switch at the closure date, the Company will switch the said funds by default to Group Debt Fund, which will be the default fund under the product and the fund will be invested in Group Debt Fund till such time the Master Policyholder exercises his option to choose any new fund to be invested.Part F 19.
The Coverage shall be renewed for the Sum Assured as per the Rules of the Master Policy on each Annual Renewal Date as in previous paragraph relating to Coverage by payment of premium for Insured Members who continue to be in the service of the Master Policy holder.
If the Insured Member leaves the service of the Master Policy holder, the Coverage effected in respect of him will terminate and the Company will refund to the Master Policy holder proportionate premium relating to the unexpired period for which the premium is paid.
Discontinuance of the Master Policy This Master Policy may be discontinued at the option of the Master Policyholder or the Company in respect of Coverage of prospective borrowers of educational loan of the Master Policy holder by giving the other party at least three months prior notice in writing, or such shorter notice or subject to such terms and conditions as may be agreed to in writing between the Master Policyholder and the Company and duly endorsed on the Policy.
General InformationShould you have any questions regarding the Membership Program provided by the Master Policy holder, or wish to view a complete copy of the Master Policy, please call the customer service number located in your membership materials.
The Master Policy holder shall arrange to submit to the Company the evidence of age in respect of each Insured Member at the time of entry into the Scheme.
The Master Policy incorporating the Coverage’s shall be held by the Master Policy holder ‘UPON TRUST’ for the benefit of the persons entitled to in accordance with Rules of the Scheme.