If you discontinue paying premiums after having paid premiums for
at least two full policy years, your policy will not lapse but continue
on a Reduced Paid-Up basis. Under Reduced Paid-Up, Sum Assured,
Sum Assured on Death and Maturity Sum Assured shall be reduced
in proportion to the premiums actually paid to the total premiums
payable during the policy term. Guaranteed Additions shall accrue
on the reduced maturity sum assured.
Once the policy has become Reduced Paid-Up, the benefits payable in “Your Benefits”
section are amended as follows:
Death Benefit - In the unfortunate event of the death of the life insured during the policy
term, we shall pay the reduced Sum Assured on Death plus Guaranteed Additions accrued to
date of death to the nominee.
Maturity Benefit - On maturity date, you shall receive the reduced Maturity Sum Assured plus
Guaranteed Additions accrued.