Guaranteed Maturity Benefit definition

Guaranteed Maturity Benefit means the amount payable as Maturity Benefit, calculated as a percentage of the Total Premiums Payable in accordance with Section 3.2.2 of Part C. The Guaranteed Maturity Benefit may vary depending on the Age, Premium Payment Term and the Policy Term.
Guaranteed Maturity Benefit means the amount as specified in the Schedule.
Guaranteed 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

Examples of Guaranteed Maturity Benefit in a sentence

  • Upon Payment of Guaranteed Maturity Benefit, the policy will stand terminated by the Company.

  • Guaranteed Maturity Benefit = (Guaranteed Maturity Benefit Factor as per Annexure A) x Total Premiums Payable Guaranteed Addition/s shall not accrue once the Policy has been converted to a Reduced Paid-up Policy.

  • On survival of the Life Insured till the end of the policy term provided this policy is in force, depending on the policy term, the following Guaranteed Maturity Benefit will be payable: The contract will terminate on payment of Maturity Benefit.

  • On survival of the Life Insured till the end of the policy term provided this policy is in force, depending on the policy term and age band, the Guaranteed Maturity Benefit as mentioned in policy schedule will be payable.

  • On survival of the Life Insured till the end of the policy term provided this policy is in force, the Guaranteed Maturity Benefit equal to Basic Sum Assured will be payable.

  • On the Maturity Date, provided the Policy has not been terminated as per Section 20 below, the Company shall pay the Policy Account Value as on the Maturity Date, subject to a minimum of the Guaranteed Maturity Benefit, to the Policyholder as Maturity Benefit.

  • On survival of the Life Insured till the end of the Policy Term, provided all the due Premium(s) have been paid up to date, Guaranteed Maturity Benefit shall be payable.

  • Upon survival of the Life Insured till the completion of the Policy Term, the benefit payable will be Reduced Paid-Up Guaranteed Maturity Benefit.

  • Maturity Benefit = Guaranteed Maturity Benefit+ accrued Guaranteed Additions+ vested reversionary bonuses, if any+ terminal bonus, if anyii.

  • For such policies, the amount paid on death or maturity will be the Death Benefit or Guaranteed Maturity Benefit reduced by outstanding loan amount respectively.


More Definitions of Guaranteed Maturity Benefit

Guaranteed Maturity Benefit means 100.1% of the total Regular Premiums / Single Premium paid less the total amount of partial withdrawals made during the policy term as per section 9 below.
Guaranteed Maturity Benefit means 90% of the total Regular Premiums / Single Premium paid.
Guaranteed Maturity Benefit means Sum Assured on Maturity, any additional and accrued benefit, which is payable on maturity, as stated in Part C of this Policy..
Guaranteed Maturity Benefit means the Benefit payable on maturity i.e. at the end of the Policy Term, as specified in the Schedule at the inception of the Policy.
Guaranteed Maturity Benefit means the amount specified in the Policy Schedule that is guaranteed to be paid by Us in accordance with the terms of the Policy.
Guaranteed Maturity Benefit means the amount which is guaranteed to become payable on maturity of the policy and is represented as % of Total Premiums Payable over the Premium Payment Term excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

Related to Guaranteed Maturity Benefit

  • 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

  • Stated Maturity when used with respect to any Security or any installment of principal thereof or interest thereon, means the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable.

  • Maximum Maturity means an obligation that has a remaining maturity of not greater than the period specified in the Standard (or if no such period is specified, thirty years);

  • Stated Maturity Date has the meaning specified in Section 2.1 hereof.

  • Designated Maturity means, in relation to Screen Rate Determination, the period of time designated in the Reference Rate.

  • Term Loan Maturity Date means the Initial Maturity Date, or, if such date has been extended pursuant to Section 2.15, such later date to which the Term Loan Maturity Date has been extended pursuant to Section 2.15.

  • Facility Maturity Date means the earliest of (a) the Business Day designated by the Borrower to the Lender pursuant to Section 2.16(b) to terminate this Agreement, (b) the Stated Maturity or (c) the date on which the Facility Maturity Date is declared (or is deemed to have occurred automatically) pursuant to Section 7.01.