Maturity / Death / Survival Benefits
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Maturity / Death / Survival Benefits
These are the benefits paid to the policyholder or nominee under a life insurance policy, depending on what happens during the policy term.
Maturity Benefit
The amount paid to the policyholder when the policy term is completed, provided the policy is active and the terms are fulfilled.
Death Benefit
The amount paid to the nominee/beneficiary if the policyholder dies during the policy term, subject to the policy terms and conditions.
Survival Benefit
An amount paid to the policyholder at specified intervals during the policy term while the policyholder is alive.