I have purchased an online term Insurance Plan for SI 1.00 crore from Reliance Insurance. The Death benefits as mentioned in the policy schedule is written as below,
Maximum of
- Sum Assured or
- 10 times Annualised Premium or,
- 105% of the premium paid as on date of death, excluding underwriting extra premium if any.
I am little bit concerned now with the above wordings which I think is confusing. If suppose after 10 years claim arises then will I be paid only maximum of these 3 options as stated in death benefits? Due to this confusion I am thinking of returning the policy in the Free look period. Kindly give your advice and solve my query.Similar Threads:
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