The Death Benefit in this plan secures your family’s well-being and future. It would variate basis the plan option you choose:

I. Life Option: In the unfortunate event of death of the Life Insured during the Policy Term while the policy is in-force on the date of death, the beneficiary shall receive

• Sum Assured on Death and,
• Accrued Annual Guaranteed Additions till the date of death, if any.

The Sum Assured on Death for Life Option is highest of:

• 11 times Annualised Premium^# (or)
• Base Sum Assured (or)
• 105% of the total premiums paid till the date of death (or)
• X% of Total Premiums Paid^* till the date of death, where X% is defined as per the table given below:

Year in the table above refers to the year in which death occurs.

II. Enhanced Life Option: In the unfortunate event of the death of the Life Insured during the Policy Term while the policy is in-force on the date of death, the beneficiary shall receive

• Immediate Benefit: A lump sum amount equal to Base Sum Assured
• Immediate Benefit: Accrued Annual Guaranteed Additions, if any till the date of death
• Monthly Payout: 2% of the Base Sum Assured, starting from the month of death for rest of the policy term subject to a minimum of 36 monthly payouts even if these fall outside Policy Term
• Benefit at Maturity Date: A lump sum amount equivalent to the Base Sum Assured multiplied by Guaranteed Maturity Multiple (GMM) factor.

The Guaranteed Maturity Multiple for different policy terms shall be as below:

The total benefits payable on death as mentioned above will be at least equal to Sum Assured on Death plus Accrued Annual Guaranteed Additions, if any

The Sum Assured on Death shall be highest of:

• 11 times the Annualized Premium^#
• 105% of the total premiums paid^* till the date of death
• Sum of (a), (c) and (d) as defined above in case of Enhanced Life Option

# Annualized Premium shall be the Premium payable in a Policy Year, excluding any, rider premiums, premium towards underwriting extra, loadings for modal premium and taxes, if any

* Total premiums paid means total of all the premiums received, excluding any underwriting extra, any rider premium and taxes.

The Policy covers death under all situations (including death during declared or undeclared war, civil commotion, invasion, terrorism, hostilities) except death due to suicide as specified in the Suicide Exclusion.

On Survival of the Life Insured till the end of the policy term and provided all due premiums have been paid, you shall receive the Maturity Benefit as sum of

• Guaranteed Income Benefit, in arrears as per the frequency chosen (annual or monthly), during the payout period of 5 years from the maturity date and
• Savings Booster payable at the end of the Payout Period.

Where Savings Booster is equal to accrued AGAs, as at the end of policy term, multiplied with a Savings Booster Multiple (SBM). For a policyholder continuing till end of the payout period SBM shall be 136%.

Refer to the below details on the Payout Period, Guaranteed Income and Savings Booster applicable for different policy terms

The beneficiary shall continue to receive the outstanding guaranteed income benefits & savings booster even after the death of the life insured during the payout period, as per the scheduled dates.

Option to receive benefits in Lump sum

• Beneficiary shall have an option to receive maturity benefit i.e. guaranteed income along with savings booster as a lump sum amount by making a written request anytime during the policy term to the Company at least 6 months before Maturity Date. The maturity lump sum amount will be equal to accrued AGAs at the end of policy term plus GMM factor (multiplied by) base sum assured (multiplied by) applicable lump sum factor.
• During the maturity payout period also the beneficiary shall have an option to take remaining maturity benefit as lump sum amount. The lump sum amount will be equal to accrued AGAs as at the end of the policy term multiplied by applicable SBM plus [GMM factor (multiplied by) base sum assured (minus) guaranteed income(s) already paid], (multiplied by) applicable lump sum factor.

Once exercised, this option cannot be reversed. The claim payment obligation of the company will end on the payment of lump sum and no further benefits will be paid. Applicable Lump sum factor and SBM are determined basis outstanding duration (in completed months) of the 5 year payout period, and are provided under Term and Conditions.

Provided the Policy is in-force for full risk benefits, Annual Guaranteed Additions (AGA) shall accrue to the Policy at the end of each completed Policy Year during the last 10 years of the Policy Term. The rates of addition are given below for each option of Policy Term. The AGAs per 1,000 of Base Sum Assured are as follows: