On maturity you may choose to Receive the entire fund value as a lump sum payment Receive your maturity payout in monthly instalments upto a period of 5 years as per your choice, by opting for the ‘Settlement Option’. During the Settlement period, applicable fund management charges & mortality charges will be applicable. The policyholder can ask to withdraw the balance/complete fund value at any time during the settlement period.
You may choose to receive this payment in equal units at regular intervals (i.e. monthly/quarterly/ half-yearly/yearly as chosen by the policyholder) over a period of time specified by you. This period is called the Settlement Period. During this period, only the fund management and mortality charges will be applicable. You can ask for the balance fund value at any time during the settlement period.