Maturity Benefit. If the Annuitant is living on the Maturity Date shown on page 3, the Company will pay a monthly income under a payment plan chosen by the Owner. The amount of the monthly income paid as the maturity benefit will depend on the payment plan chosen (see Section 11) and the maturity value. The maturity value of this contract will be the Accumulation Value of the contract on the effective date of the maturity benefit. The maturity benefit will be effective on the Maturity Date. However, if the New York Stock Exchange is closed on the Maturity Date, the effective date will be the Valuation Date next preceding the Maturity Date. If no payment plan is chosen at the time a monthly income becomes payable, payments will be made under the variable payment form of Life Income Plan (Option C), with installments certain for ten years, as described in Section 11.1. XX.X.X.XX.(0805) 10
Maturity Benefit. Maturity Options. If the Annuitant is living on the Maturity Date shown on page 3, and that Maturity Date is earlier than the contract anniversary nearest the Annuitant's 90th birthday, the Owner may elect between the following maturity options: . payment of a monthly income under a payment plan chosen by the Owner; or . deferral of the maturity benefit and continuation of this contract to the Optional Maturity Date. The contract will continue under this option if a written election for this purpose is received by the Company or if on the Maturity Date shown on page 3, the Owner has not chosen a payment plan. If the Annuitant is living on the Maturity Date and that Maturity Date is on or after the contract anniversary nearest the Annuitant's 90th birthday, the Company will pay a monthly income under a payment form chosen by the Owner. Payment of Maturity Benefit. The amount of the monthly income paid as the maturity benefit will depend on the payment plan chosen (see Section 11) and the maturity value. The maturity value of this contract will be the Accumulation Value of the contract on the effective date of the maturity benefit, less any applicable Withdrawal Charge (see Section 7.4). The maturity benefit will be effective on the Maturity Date. However, if the New York Stock Exchange is closed on the Maturity Date, the effective date will be the Valuation Date next preceding the Maturity Date. If no payment form is chosen at the time a monthly income becomes payable, payments will be made under the variable payment form of Life Income Plan (Option C), with installments certain for ten years, as described in Section 11.1.
Maturity Benefit. On the Maturity date, if the policy is still in force, the Life insured survives and We have not paid out any claims, We will pay You a guaranteed maturity Benefit in one lump sum, less any outstanding amount owing to Us. Please refer to the Policy Illustration for the value of the maturity Benefit.
Maturity Benefit. At maturity date, if the policy is still in force, the maturity benefit payable is the Account value less any amounts owing to us.
Maturity Benefit. At the Maturity date on the Policy anniversary immediately before the Life insured attains 100 years old, if the policy is still in force, You will receive a lump sum maturity Benefit which is equivalent to the Account value, less any amounts owing to Us.
Maturity Benefit. 4.1 If the Life Assured is still surviving at the end of the final Policy Year, the Company will pay a maturity benefit of an amount equal to 100% of the Single Premium.
Maturity Benefit. Death Benefit if Annuitant is an Owner . Death Benefit if Annuitant is not an Owner
Maturity Benefit. Subject to Sections 3.4, 4, 5, 9.4, 9.5 and 9.11 below, if the Life Insured has survived on the Maturity Date and We have received all the due Premiums, then, We shall pay the sum total of the following on the Maturity Date to a person specified under Section 4.1:
Maturity Benefit. On the Maturity date, if the Life insured survives and the policy is still in force, We will pay You:
Maturity Benefit. If the Life Assured is alive at the maturity date shown in the (T.B. and C.), the Company will either: -pay to the Contract Owner a lump sum amount equal to the value of the Investment Accounts at that time, -or pay to the Contract Owner (or to the beneficiary in case of the death of the Contract Owner) the benefit in terms of annuity payments over a number of years as selected by the Contract Owner, the first payment being due on the maturity date. -or pay to the Contract Owner (or to the beneficiary in case of the death of the Contract Owner) a combination of the above two options. In the case where the Contract Owner opts to receive the maturity benefit in annuities; The value of the first payment on maturity will be equal to the value of the Investment Accounts divided by the total number of payable annuities. This value will be debited from the Investment Accounts according to the proportion of distribution at the time of the payment (irrespective of the initial Funds’ selection). This deduction from the Investment Accounts will be by redeeming at the bid price a number of allocated units of the various Funds. The value of each subsequent payment will be determined by dividing the remaining value of the Investment Accounts by the remaining number of annuities. This value will be debited again from the Investment Accounts according to the proportion of distribution at the time of the payment. The last annuity shall be paid by redeeming all remaining allocated units held in the Unit Linked Funds. The Contract will be considered void after the payment of the final annuity by the Company. Should the Contract Owner choose to receive the benefits in annuities, there will be no cover provided and in case of death of the Contract Owner before the end of the period of the annuities, the remaining annuities will become payable to the beneficiary. The cost of insurance for the benefits under the Regular Plan is calculated by applying to the sum at risk, the monthly mortality rate (and riders rates if applicable) relative to the Life Assured’s age and in accordance with the mortality table (and riders table) applicable by the Company. The Life Assured’s age is calculated at the last annual anniversary date of the Contract based on his/her previous birthday. The sum at risk is calculated on each monthly anniversary date as the difference, if positive, between: - cover A sum assured plus the present value of covers B, C and D sums assured, if any, - and the value o...
