Maturity Benefit definition

Maturity Benefit means the amount of benefit which is payable on maturity i.e. at the end of the Policy term, as stated at the inception of the Policy contract and specified in the Policy Schedule

Maturity Benefit means the benefit, which is payable on maturity, as specified in in Condition 1.B of Part C of this Policy Document.

Maturity Benefit means the benefits which become payable on or after the Maturity Date in accordance with Part C of this Policy. Part C will specify whether a Maturity Benefit is payable under this Policy.

Examples of Maturity Benefit in a sentence

• Maturity Benefit means the amount payable on the Maturity Date in accordance with Part C.

• If a Life Assured, who has exercised Settlement Option against Maturity Benefit, desires to withdraw this option and commute the outstanding instalments, the same shall be allowed on receipt of written request from the Life Assured.

• Maturity Date means the date specified in the Schedule on which the Maturity Benefit becomes payable.

• Settlement Option is an option to receive Maturity Benefit in instalments over the chosen period of 5 or 10 or 15 years instead of lumpsum amount under an in-force as well as paid-up policy.

• If the Life Assured is alive and this Policy is a Reduced Paid-up Policy on the Maturity Date, the Maturity Benefit payable will reduce in proportion to the number of Instalment Premiums received to the total number of Instalment Premiums payable for the Premium Paying Term.

More Definitions of Maturity Benefit

Maturity Benefit means the benefit which is payable on the maturity i.e. at the end of the term as specified in the Policy Schedule.

Maturity Benefit means the benefit, which is payable on maturity i.e. at the end of the policy term as specified in Part C of this Policy Document, on life assured surviving upto the Date of Maturity.

Maturity Benefit means the benefit which is payable on maturity as stated in this policy document.

Maturity Benefit means benefit payable on the Maturity Date and/or the Add-on Maturity Date, if the Life Assured survives till then without taking entire claim in the Policy and/or Add-on Cover. Please refer to Section 4) v) below for more details.

Maturity Benefit means the amount payable in accordance with Clause 3 of Part C of this Policy Document.

Maturity Benefit means the amount of benefit which is payable on survival till maturity i.e. on the Cover Cessation Date, as specified in the Policy certificate.

Maturity Benefit means the amount payable on the Maturity Date in accordance with Part C.