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 following
- 10 times the Annual Premium
- Sum Assured
In this plan, life cover is never lesser than 105% of the Premiums Paid.
Family Income Benefit Option:You have the option to receive a part of the GDB as Family Income Benefit. In this case your family will receive 50% of the GDB amount along with the accumulated bonus as a lump sum amount. 60% of the GDB amount will be paid as monthly income spread over 60 months. By choosing FIB, your family gets 10% extra of life cover payout.
110% of Life Cover | 60 months | Bonuses (if any)