Benefits payable under an inforce policy (where all due premiums have been paid):

DEATH BENEFIT: On death during first five years: Death Benefit defined as sum of “Sum Assured on Death” and accrued Guaranteed Addition shall be payable.
On death after completion of five policy years but before the date of maturity: Death Benefit defined as sum of “Sum Assured on Death” and accrued Guaranteed Addition and Loyalty Addition, if any, shall  be payable.

Where “Sum Assured on Death” is defined as the highest of –

• 10 times of annualised premium; or
• Sum Assured on Maturity as defined in 1. c) below; or
• Absolute amount assured to be paid on death, i.e. 125% of Basic Sum Assured.

This 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 policy due to underwriting decision and rider premium(s), if any.

SURVIVAL BENEFIT: On the life assured surviving to each of the specified durations during the policy term, provided all duepremiums have been paid, a fixed percentage of Basic Sum Assured shall be payable. The fixed percentage for various policy terms is as below:

• For policy term 14 years:
  30% of Basic Sum Assured on each of 10th and 12th policy anniversary.
• For policy term 16 years:
  35% of Basic Sum Assured on each of 12th and 14th policy anniversary.
•  For policy term 18 years:
  40% of Basic Sum Assured on each of 14 th and 16th policy anniversary.
•  For policy term 20 years:
  45% of Basic Sum Assured on each of 16th  and 18th  policy anniversary.