For Regular Pay
For Limited Pay
If you discontinue paying premiums after having paid premiums for at least four
full years, your policy will not lapse but will continue on a Reduced Paid –Up basis.
Under Reduced Paid-Up, your Sum Assured shall be reduced in proportion to the premiums
actually paid to the total premiums payable during the premium paying term.
Once the policy has become Reduced Paid-Up, the monthly income payable on death
of the life insured is amended to 1.25% of the reduced Sum Assured as on date of
Death. If Plan Option 2 or Plan Option 4 is chosen the monthly income payable on
death of the life insured will continue to be increased by 5% p.a. simple every
year. The pemium waiver on Critical Illness or Total Permanent Disability or for
EVA benefit shall not be applicable on RPU policies.