Common use of Terminal Illness Benefit Clause in Contracts

Terminal Illness Benefit. 3.3.1. Subject to Sections 3.4, 4, 5, 9.4, 9.5 and 9.11 below, if the Life Insured is Diagnosed with Terminal Illness at any time during the Policy Term, We shall on receipt of Your written request, pay the following benefits to the Life Insured: i. Up to 50% (Fifty percent) of the Guaranteed Maturity Sum Assured or the Reduced Paid Up Maturity Sum Assured, as the case may be, on the date of intimation, subject to a maximum cumulative amount of INR 10,00,000 (Rupees Ten Lakhs) under all Our policies issued with respect to the Life Insured which provide for Terminal Illness benefit, on the approval of Terminal Illness claim filed by You. Upon payment of the Terminal Illness benefit, the benefits under all policies then in force, which provide for the Terminal Illness benefit will be proportionately reduced and will be payable in accordance with the terms of the respective policies. ii. The maturity benefit or the death benefit or the Surrender Value, as the case may be, will be reduced by the amount of Terminal Illness benefit already paid and the remaining maturity benefit or remaining death benefit or the remaining Surrender Value, as the case may be, will be payable, subject to the terms of this Policy. 3.3.2. If the Life Insured is alive during the Policy Term and the Policy is not under Reduced Paid Up Mode, You shall continue to pay all the due Premiums. 3.3.3. The bonus(es), if any, will be declared by Us on the basis of the original Guaranteed Maturity Sum Assured. 3.3.4. Terminal Illness benefit can be availed under this Policy only once during the Policy Term.

Terminal Illness Benefit. 3.3.1. 3.4.1 Subject to Sections 3.43.5, 4, 5, 9.4, 9.5 and 9.11 below, 9.10 below if the Life Insured is Diagnosed with Terminal Illness at any time during the Policy Term, We shall on receipt of Your written request, pay the following benefits to the Life Insured: i. Up to 50% (Fifty percent) of the Guaranteed Maturity Sum Assured or the Reduced Paid Paid-Up Maturity Sum Assured, as the case may be, on the date of intimation, subject to a maximum cumulative amount of INR 10,00,000 (Rupees Ten Lakhs) under all Our policies issued with respect to the Life Insured which provide for Terminal Illness benefit, on the approval of Terminal Illness claim filed by You. Upon payment of the Terminal Illness benefit, the benefits under all policies then in force, which provide for the Terminal Illness benefit will be proportionately reduced and will be payable in accordance with the terms of the respective policies. ii. The maturity benefit or the death benefit or the Surrender Value, as the case may be, will be reduced by the amount of Terminal Illness benefit already paid and the remaining maturity benefit or remaining death benefit or the remaining Surrender Value, as the case may be, will be payable, subject to the terms of this Policy. 3.3.2. 3.4.2 If the Life Insured is alive during the Policy Term and the Policy is not under Reduced Paid Paid-Up Mode, You shall continue to pay all the due Premiums. 3.3.3. 3.4.3 The bonus(es), if any, will be declared by Us on the basis of the original Guaranteed Maturity Sum AssuredAssured and accrued Paid Up Additions, subject to the terms and conditions of this Policy. 3.3.4. 3.4.4 Terminal Illness benefit can be availed under this Policy only once during the Policy Term.