Sum Assured on Death definition

Sum Assured on Death means an absolute amount of benefit which is guaranteed to become payable on death of life assured in accordance with the terms and conditions of the policy.

Sum Assured on Death means the absolute amount of benefit which is guaranteed to become payable on death of the Life Assured as per the terms and conditions specified in the Policy;

Sum Assured on Death means highest of the following:

Examples of Sum Assured on Death in a sentence

• Partial Withdrawals with respect to the Fund Values from the contractual Premiums shall only be counted for the purpose of adjusting the Sum Assured on Death to be payable.

• Sum Assured on Death would be a multiple of premium depending upon the option chosen at the inception of the policy: OptionSum Assured on DeathOption 11.25 times of Single PremiumOption 210 times of Single Premium Where,Single premium means the single premium received by the Company, excluding any extra premium and applicable taxes.

• Product Core Benefits BENEFITS PAYABLE UNDER THIS POLICY C.1. Life Cover: Subject to terms and conditions of this Policy and the Policy remaining in full force and effect, in the event of unfortunate demise of the Life Assured after Risk Commencement Date but before Policy Maturity Date, the company shall pay Sum Assured on Death plus vested bonus, if any plus terminal bonus, if any as on date of death to the Eligible Person after deducting the Premiums, if any due for the Policy Year of demise/death.

• C.1.1. Sum Assured on Death: Sum Assured on Death is calculated as higher of ‘Sum Assured on Maturity’ or multiple of Annualized Premium excluding service tax, Rider Premium/extra Premium, if any.

More Definitions of Sum Assured on Death

Sum Assured on Death means an amount of benefit which is guaranteed to become payable on death of the Life Insured

Sum Assured on Death means an absolute amount of benefit which is guaranteed to become payable on death of life assured in accordance with the terms and conditions of the policy as mentioned in Condition 1.A of Part C of this Policy Document.

Sum Assured on Death means the absolute amount of benefit which is guaranteed to become payable on death of the life assured (and in case of Joint Life Coverage, on the death of either of the Lives Assured) in accordance with the terms and conditions of the policy;

Sum Assured on Death means the amount specified in the Schedule.

Sum Assured on Death means an absolute amount of benefit which is guaranteed to become payable on death of the Life Insured in accordance with the terms and conditions of the Policy.

Sum Assured on Death means the absolute amount of benefit which is guaranteed to be paid on death of the Life Insured and shall be highest of the following:

Sum Assured on Death means an absolute amount of Benefit which is guaranteed to become payable on death of the Life Assured after the Risk Commencement Date during the Policy Term in accordance with the terms and conditions of the Policy and is specified as such in the Policy Schedule or such amount as may be endorsed on the Policy.