In the unfortunate event of death of the life insured during the
policy term, the death benefit1 payable shall be
- Sum Assured on Death; plus
- Accrued regular bonuses as on date of death; plus
- Terminal Bonus; if any
Sum Assured on Death shall always be higher of Sum Assured or 10 times of
In the event the Life Insured survives to the end of the policy term, the insurance
cover will continue till the life insured attains age 100. In case of survival to age 100
or death during this period, if earlier, the Sum Assured on Death shall be payable.
The death benefit will be subject to minimum of 105% of Total Premiums paid up to
date of death.
Annualized premium shall be the premium amount payable in a year chosen by the
policyholder, excluding the taxes, rider premiums, underwriting extra premiums and
loadings for modal premiums, if any.
Total Premiums means total of all the premiums received, excluding any extra premium,
any rider premium and taxes.
In case where the death of the Life Insured takes place prior to the risk commencement
date, only the basic premiums paid to date (excluding taxes, if any) shall be payable as
the Death Benefit.
If the life insured is different from the policyholder, we shall pay the above death benefit
to the policyholder. The policy shall be terminated once the death benefit is paid.