In case of an unfortunate event of death, 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 Annualized Premium
- Sum Assured
In this plan, death benefit is never less than 105% of the Total Premiums Paid.
Family Income Payout Option: You have the option to receive a part of the Death Benefit 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.
