1. As long as the plan is in force and the life insured is alive, we will pay a yearly guaranteed cash benefit of 10% of the annual premium starting from the end of second policy year. We will deduct any amounts owing (if any) from the guaranteed cash benefit payable before paying or accumulating the remainder.
2. Upon maturity, we will pay the sum of total yearly premiums paid less guaranteed cash benefits paid and a non-guaranteed terminal bonus (if any), accumulated guaranteed cash benefits (if any) and interest on the accumulated guaranteed cash benefits (if any), less amounts owing to us (if any) and the policy terminates.
3. The capital guarantee is derived based on yearly premium mode, applies only at the end of the policy term; and if all yearly premiums due on the policy have been paid before the end of the grace period. Capital guarantee applies to the basic plan only.
4. The policy term can be 5 years for 2-pay term, 10 years for 5-pay term or 12 years for 7-pay term. For 2-pay term with policy term of 5 years, this option is available for a limited tranche only.
5. In the event of death of the life insured while the plan is in force, we will pay the sum of 101% of Total Yearly Premiums due and paid less guaranteed cash benefits paid, a non-guaranteed terminal bonus (if any), accumulated guaranteed cash benefits (if any) and interest on the accumulated guaranteed cash benefits (if any), less amounts owing (if any), outstanding premium (if any) and future instalment premiums which are required to make up the full year’s premiums (if any).
