On the life assured surviving to the end of the premium paying term, provided all due premiums have been paid, a survival benefit equal to 8% of Basic Sum Assured shall be payable each year. The death benefit shall not be less than 105% of all the premiums paid as on date of death.Premiums referred above shall not include any taxes, extra amount chargeable under the policydue to underwriting decision and rider premiums, if any. b) or Absolute amount assured to be paid on death, i.e. Where “Sum Assured on Death” is defined as the highest of 10 times of annualized premium or Sum Assured on Maturity as defined in 1.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |