If all due premiums are paid, then in case of unfortunate death of the Life Assured during the policy term, the death benefit payable will be:
Sum Assured under the Base Plan less relevant partial withdrawals# OR
Fund value under the Base Plan as on the date of intimation of death of the Life Assured, OR
105% of total base premiums paid
#The Sum Assured shall be reduced to the extent of the partial withdrawals made during the two-year period immediately preceding the death of the life assured.
Return of Mortality Charges (RoMC)
At the end of the policy term, on the maturity date, the total amount of mortality charges deducted in respect of life cover provided throughout the policy term, will be added back as RoMC, to the Regular Premium Fund Value.
RoMC is not applicable in case of a Surrendered, Discontinued or Paid-up policy and will be payable provided all due Regular Premiums under the policy have been paid up to date.
RoMC will be excluding any extra mortality charge & or GST / any other applicable tax levied on the mortality charge deducted.
From 11th policy year onwards, 1% of one annualized premium, as Extra Allocation will be added to the fund(s) along with each premium paid within the grace period. If the Premium is paid after the Grace Period, the respective Extra Allocation will not be added to the fund.