If the insured is alive, the company will pay an annuity of 15% of the sum assured on every policy anniversary, starting from the policy anniversary when the insured reaches age 60 until the policy anniversary when the insured reaches age 90.
In case the insured passes away during annuity guarantee period
The company will pay the following benefits to beneficiary, whichever is higher
1)The present value of the remaining installments in the guaranteed period as of the date of the insured’s death or
2)The total premiums paid deducted by total annuity benefits already paid by the Company to the insured
In case the insured passes away after annuity guarantee period
The company will pay the total premium paid deducted by total annuity benefit paid by the company to insured