A) Death Benefit:
On death during the first policy year: Five times the single premium is payable. On death during the policy term after first policy year, excluding last policy year: An amount equal to the maturity sum assured. On death during the last policy year: An amount equal to the maturity sum assured along with loyalty addition, if any.
B) Maturity Benefit:
An amount equal to the Maturity Sum Assured along with loyalty addition, if any, is payable.
The specimen Maturity Sum Assured per Rs. 1000/- single premium is given below for some ages and terms:
|Age at Entry
C) Loyalty Addition:
Depending upon the Corporation's experience the policy will be eligible for Loyalty Addition on death during the last policy year or on the Life Assured surviving the stipulated date of maturity at such rate and on such terms as may be declared by the Corporation.