Proceeds of the Discontinued Policy definition

Proceeds of the Discontinued Policy means the fund value as on the date of discontinuance plus entire income earned after deduction of the fund management charges, subject to a minimum guarantee of interest @ 4% p.a. or as prescribed by IRDA of India from time to time.

Proceeds of the Discontinued Policy means the Fund Value in Your Discontinued policy fund.

Proceeds of the Discontinued Policy means the Total Fund Value as on the date the policy has discontinued, less the applicable discontinuance charges as on the date of discontinuance after addition of the interest earned and subject to a minimum guarantee of the interest, as applicable to savings bank accounts of State Bank of India.

Examples of Proceeds of the Discontinued Policy in a sentence

• The Proceeds of the Discontinued Policy Fund of the Policy shall be higher of Discontinued Policy Fund Value or the Guaranteed Monetary Amount.

• The Proceeds of the Discontinued Policy Fund shall be paid to You and the Policy shall terminate at the end of the Lock-in Period.4.1.4 If You Surrender the Policy, Proceeds of the Discontinued Policy Fund shall be payable at the end of Lock-in Period or date of Surrender, whichever is later.

• At the end of the Lock-in-period, the Proceeds of the Discontinued Policy Fund shall be paid to You and the Policy shall terminate.- However, You may opt for Complete Withdrawal or surrender anytime as per clause 3 under Part D (“Complete Withdrawal/Surrender”) of this Policy.

• The Proceeds of the Discontinued Policy Fund of this Policy shall be higher of Discontinued Policy Fund Value or the Guaranteed Monetary Amount.

• On complete withdrawal or surrender of the Policy, surrender value i.e. the total Fund Value less applicable Discontinuance Charge as on the date of Discontinuance shall be credited to the ‘Discontinued Policy Fund’ and the Proceeds of the Discontinued Policy shall be payable at the end of Lock-in-period or date of Complete Withdrawal, whichever is later.

More Definitions of Proceeds of the Discontinued Policy

Proceeds of the Discontinued Policy means the Fund Value as on the date the policy was discontinued, after addition of interest computed at the interest rate stipulated under section “Discontinued Policy Fund” under Part D.

Proceeds of the Discontinued Policy means the fund value as on the date the policy was discontinued, after addition of interest computed at the interest rate as declared by Authority from time to time. The current minimum guaranteed interest rate applicable to the discontinued fund is 4% p.a.

Proceeds of the Discontinued Policy means the fund value of the Discontinued Policy Fund as payable on death/revival/surrender (as applicable).

Proceeds of the Discontinued Policy means the fund value as on the date of complete withdrawal.

Proceeds of the Discontinued Policy means the fund value as on the date the policy was discontinued, after the addition of interest computed at the applicable interest rate.

Proceeds of the Discontinued Policy means the Fund Value as on the

Proceeds of the Discontinued Policy means the fund value as on the date of discontinuance plus entire income earned after deduction of the fund management charges, subject to a