In case of the life insured’s unfortunate demise during the policy period, the death benefit will be paid to the nominee in either of the following ways:
Assured benefits chosen by you shall be paid on their respective due dates; plus
Any excess amount of Sum Assured on Death over the discounted value of the payable assured benefits will be paid immediately as lump-sum
All future installment premiums shall be waived off.
Nominee has an option to opt immediate lump sum payment. In that case higher of Sum Assured on Death or discounted value of all the future Assured Benefits, will be paid immediately and the policy will be terminated.