Under the Level Recurring Pay-out Option, 10% of the sum assured is paid in a lump sum when the insured dies. Thereafter, 6% of the sum assured would be paid in annual installments for 15 years from the next year after the death of the insured.
Under the Increasing Recurring Pay-out Option, on the other hand, 10% of the sum assured would be paid immediately on death. Thereafter, 6% of the sum assured would be paid in annual installments for 15 years. However, after each year, the annual installment would increase by 10% simple rate of interest.
Under both the options, you can choose to receive the installments monthly in which case the monthly installment would be calculated as 8.22% of the annual installment.