The bonuses accrued till the last Policy Anniversary will remain 100% attached with the policy. The Sum Assured will be reduced to the Reduced Paid Up Sum Assured by multiplying the Sum Assured by the ratio of number of Installment Premium paid to the total number of Installment Premium payable over the full premium paying term. If you discontinue paying premiums after having paid for at least two full years, your policy will not lapse but will continue on a Reduced Paid-Up basis. The policy shall be terminated once the death or maturity benefit is paid and no other benefit shall be payable thereafter. In case of death of the life insured, if the life insured is different from the policyholder, the policyholder will receive the death benefit. In case where the death of the Life Insured takes place prior to the risk commencement date, only the total premiums paid to date (excluding GST, if any ) shall be payable as the Death Benefit. 105% of Total Premiums paid4 upto the date of death.The Sum Assured on Death is the maximum of In the event the life insured dies after the premium paying term, we shall pay to the nominee Accrued bonuses as on date of death plus.In the unfortunate event of the death of the life insured during the premium paying term, we shall pay to the nominee ABSLI Pradhan Mantri Jeevan Jyoti Bima YojanaĪBSLI Group Bima Yojana Plan (Micro Insurance)
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