policy benefit definition
policy benefit means one or more sums of money, services or other benefits, including an annuity, but excluding a loan in respect of a policy or consideration upon the surrender of a policy;
policy benefit means, with respect to a Life Insurance Policy, the amount to be paid by the writing Insurance Company upon the mortality of the Insured.
policy benefit means a lump sum or an annuity payable on a certain contingency;
More Definitions of policy benefit
policy benefit means the benefits payable by way of Gratuit or Leave Encashment , as applicable, with respect to an Insured Member for the period of service rendered by him/her with the Group Policyholder as per the rules of the Scheme formulated by the Group Policyholder from time to time and is subject to statutory requirements as may be applicable. The Policy Benefit opted under this Group Policy is a s shown in the Schedule
policy benefit means the amount we would pay under the Policy upon the death of the Insured. The "Policy Benefit" does not include any amount payable under an Accidental Death Benefit (ADB). Any amount payable under an ADB will not be affected by this rider.