If all due premiums are paid, then in case of unfortunate death of the life assured during the policy term, Sum Assured on Death# plus 105% of Cash Value (if not fully withdrawn) plus Compound Reversionary Bonus (if any) plus Terminal Bonus (if any) will be paid immediately as lump-sum. The Policy will terminate on the payment of full death benefit.
If you have opted for Joint Life Cover% at inception of the Policy, both you (primary life assured) and your spouse will have independent life cover (Sum Assured). Spouse Sum Assured can range from 50% to 100% of your Sum Assured. The death benefit in case of Joint Life Cover will be payable as below:
•Death of Primary Life Assured - If all due premiums are paid, then in case of unfortunate death during the policy term, Sum Assured on Death# plus 105% of Cash Value (if not fully withdrawn) plus Compound Reversionary Bonus (if any) plus Terminal Bonus (if any) will be paid immediately as lumpsum. The risk cover with respect to the primary life assured will terminate automatically on the date of death. However, t he Policy will continue with the life cover on the spouse and the future premiums will be paid by the Company
•Death of Spouse -If all due premiums are paid, then in case of unfortunate death during the policy term, Sum Assured will be paid immediately as lumpsum. The risk cover with respect to the spouse will terminate automatically on the date of death. However, the Policy will continue on the life of primary Life Assured, subject to payment of all due future premiums.
You or your nominee can opt to take the Sum Assured/Sum Assured on Death# in equal monthly installments over a period of 5 or 10 years from intimation of death as decided by you/your nominee, at the time of intimation of death.
%Primary Life Assured will have the option to discontinue the life cover (Sum Assured) on the spouse at any policy anniversary, during the PPT. The premium under the policy will be revised accordingly. Life Assured will not have an option to include the spouse again once he/she has exited the Policy
# Sum Assured on Death is higher of the sum assured or 10 times of Annualized Premium* further the death benefit will not be less than 105% of Total Premiums* paid.
* Annualized Premium is exclusive of extra premium, rider premium and GST/any other applicable tax levied, subject to changes in tax laws, if any. Total premium paid is total of regular premiums paid exclusive of extra premium, rider premium and GST/any other applicable tax levied, subject to changes in tax laws, if any. Both, the Annualized Premium and the Total Premiums paid, will be w.r.t. the life assured or primary life assured (in a joint life policy).
In Joint Life, there is no Maturity or Survival Benefit available to Spouse.
In case of simultaneous death of Primary Life Assured and Spouse, the Death Benefit as mentioned above will be paid and the policy will be terminated
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An ISO 9001:2015 
