Maturity Benefit is equal to the Fund Value. You shall have an option to receive the Maturity Benefit as a lump sum or as structured payments using the Settlement Option facility.
Upon payment of the maturity benefit as lump sum, your Met Dhan Samriddhi plan is terminated.
Met Dhan Samriddhi provides Loyalty Additions at maturity of the policy. The loyalty addition is 0.5% of the Average Single Premium Fund Value when the Single Premium is Rs. 10 Lakhs and more.
The Average Single Premium Fund Value takreen for Loyalty Additions is the average of the Fund Values for the last thirty six monthly anniversaries preceding the due date of Loyalty Addition. The Loyalty Additions would be paid based on the Single Premium Fund Value only.
No loyalty additions are payable if the single premium is below 10 lakhs
In the unfortunate event of death, we pay Death Benefit to your Nominee. Death benefit payable is higher of the following three amounts.
(1) The Single Premium Fund Value, or
(2) The Sum Assured less Partial Withdrawals* or
(3) 105% of the Single Premium paid
*Partial Withdrawals will have the following effect on your Sum Assured. Sum Assured payable on death is reduced by an amount which is higher of
(i)all partial withdrawals made 24 months prior to death or
(ii)all partial withdrawals made post attainment of age 60