In the unfortunate event of your death your nominee/beneficiary
1. During the Premium Payment Term - 25% of the Base Sum Assured
plus all accrued simple reversionary bonuses is payable immediately. The monthly
regular income also starts from the first monthly anniversary falling after the
date of death and continues to be paid to the nominee/beneficiary for the next 15
years. At the end of 15 years from the date of first monthly regular income payment,
the policy ceases with payment of "Terminal Bonus", if any.
2. After the Premium Payment Term - 25% of the Base Sum Assured plus all accrued
simple reversionary bonuses is payable immediately. The monthly regular income to
the nominee/beneficiary continues for the remaining term till maturity. At the maturity
date as chosen at inception, the policy ceases with payment of "Terminal Bonus",
NOTE: In case of death of the beneficiary/nominee during
these guaranteed monthly regular income payments period, the same will be made to
the legal heir.
You get a monthly regular income that you have chosen at the inception of the policy
for 15 years after the end of the Premium Payment Term. The monthly regular income
commences from the monthly anniversary date that immediately succeeds the completion
of the Premium Payment Term.
On attaining the maturity age you will receive the accrued Simple
Reversionary Bonuses along with the Terminal Bonus, if any.
A word about Bonuses
Simple Reversionary Bonus
The policy will participate for Simple Reversionary Bonuses
on completion of three years and the declared bonus will be credited on each policy
anniversary occurring immediately after the date of declaration of bonus provided
all the due premiums have been paid.
Simple Reversionary Bonus is declared by the Company starting from year 3 onwards
based on the Company's experience and this is not guaranteed. Simple Reversionary
Bonus is payable on death of the life insured or on maturity whichever is earlier.
The Simple Reversionary Bonus will not accrue once the death claim is settled and
for the lapsed policies.
The Company may also declare a Terminal Bonus as a percentage
of the accrued Simple Reversionary Bonus. The Terminal Bonus is payable only after
payment of last monthly regular income payment and the same is not guaranteed.