Is it the policyholder, the person insured or the nominee?
23-Feb-2023 •Ravi Banagere
Whether the final payout in respect of ULIP is made to the policy holder or the person insured by the policy? - Anonymous
It is the policyholder who receives the maturity benefit. We'll explain.
In insurance, there can be three parties involved:
In ULIP, all these parties can be different individuals.
Let's take a closer look at two scenarios:
However, the policyholder must ensure that all the policy documentation is accurate and the premiums are paid on time, in order to be eligible to get the maturity benefits of ULIPs.
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