In the unfortunate event the life insured dies while the policy is in effect,
we will pay to the nominee the greater of:
- Basic Fund Value as on date of intimation of death; or
- Basic Sum Assured
In addition we will also pay the greater of
- Top-up Fund Value as on date of intimation of death; or
- Top-up Sum Assured
The Basic Sum Assured will be reduced to the extent of partial withdrawals made during the
two-year period immediately preceding the death of the life assured from the Basic fund value.
However, the Death Benefit after partial withdrawals shall never be less than Annualized
Premium multiplied by 10.
At all times, if your policy has not been discontinued, the Death benefit shall never be less than
105% of total basic and top up premiums paid up to the date of death reduced to the extent
of partial withdrawals made, both from the Basic Fund Value and Top-up Fund Values, during
two-year period immediately preceding the death of the life assured.
In case where the death of the Life Insured takes place prior to risk commencement date, only
the basic premiums paid (excluding GST, if any) shall be payable as the Death Benefit.
Where a policy is issued on a minor life, the policy will vest in life insured after attainment of
majority of the life assured.
(2)In case of death of the life insured, if life insured is different from the proposer/policyholder, the
proposer/policyholder will receive the policy proceeds.