Common use of Reduced Paid Up Benefit Clause in Contracts

Reduced Paid Up Benefit. 3.4.1. If this Policy has acquired a Surrender Value as per Section 8 below, then, in the event of non-payment of the due Premiums by You to Us, this Policy will not lapse and will continue with reduced paid up benefits in accordance with this Section 3.4. A Policy under the Reduced Paid Up Mode will thereafter be free from all liabilities of payment of the future Premiums to Us.

Reduced Paid Up Benefit. 3.4.1. 3.5.1 If this Policy has acquired a Surrender Value as per Section 8 8.1 below, then, in the event of non-non- payment of the due Premiums by You to Us, this Policy will not lapse and will continue with reduced paid paid-up benefits in accordance with this Section 3.43.5. A Policy under the Reduced Paid Paid-Up Mode will thereafter be free from all liabilities of payment of the future Premiums to Us.