We have assumed an average investment return of 4% over the years. The total payout may be much higher. For instance, at an 8% rate of return, the total payout will be = Rs. 25,65, 903.
However, what will happen if Mr Verma meets with an accident and dies before paying all his premiums?
Let’s say Mr Verma passes away after 5 premium payments. Totalling to Rs. 5,00,000.
Mr. Verma’s family will receive a lump sum death benefit of Rs. 16,85,772.
The nominee can choose to convert the same amount into a monthly income of Rs. 16, 857, which will continue for 135 months.
The policy will now continue as it would have in Mr. Verma’s presence with future premiums waived off by Max Life. The company will also pay the maturity amount as shown in the table above.
*1. Kindly note that the above case studies are only examples and do not in any way create any rights and/or obligations. The actual experience of the policy may be different from what is shown above. The above scenarios are depicted at 4% and 8% investment returns with no PUA withdrawals during the Policy Term. These illustrated rates of investment returns are not guaranteed and they are not the upper or lower limits of returns of the Funds selected in your policy, as the performance of the Funds is dependent on a number of factors including future investment performance.
2. Bonuses are non-guaranteed and are declared at the sole discretion of the Company.
3. For more information, please request your Policy-specific benefit illustration.