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Type of Benefit
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When will the Benefits be paid
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Benefits paid
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Death Benefit
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In case of unfortunate demise of the Life Insured during the first 15 policy years
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Death Sum Assured PLUS
Accrued Reversionary Bonus PLUS Final Bonus (if any). The policy will terminate after paying the benefits.
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In case of unfortunate demise of the Life Insured after completion of the 15th policy year
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Death Sum Assured PLUS
Final Bonus (if any).
The Death Sum Assured is defined as maximum of 11 times the Annualised Premium or 50% of the Sum Assured. However, the minimum Death Benefit will be at least equal to 105% multiplied by the total Premium paids till the date of death.
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Survival Benefit
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On completion of the 15th policy year
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The policyholder will receive Reversionary Bonus accrued during the initial 15 policy years.
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Bonus Income
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From the end of the 16th policy year onwards every policy anniversary until maturity of the policy or Death, whichever is earlier
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The policyholder will be paid bonus declared every year.
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Guaranteed Income
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From the end of the 16th policy year onwards every policy anniversary until maturity of the policy or Death, whichever is earlier
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The policyholder will be entitled to receive annual payouts equal to 6% of the Sum Assured.
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Maturity Benefit
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At maturity of the policy
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50% of the Sum Assured PLUS
Final Bonus (if any).
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