In case of an unfortunate event, your family will be paid Guaranteed Death Benefit (GDB) amount along with the accumulated bonus in lump sum. GDB amount will be higher of the following:
- Sum Assured
- 10 times the Annualized Premium
In this plan, Death Benefit is never lesser than 105% of the Total Premiums Paid
Family Income Payout (FIP) Option: You have the option to receive a part of the GDB as Family Income Payout. In this case your family will receive 50% of the GDB amount along with the accumulated bonus as a lump sum amount. The remaining death benefit will be paid as monthly income spread over 60 months. Each monthly installment will be equal to 1% of GDB.