Question

Death Benefit

Suppose Rahul buys a ULIP with the death benefit defined as the higher of the sum assured and the fund value. The policy term is 10 years, and his annual premium is ₹50,000. His sum assured is ₹15 lakh. In case Rahul dies in the fifth year of the policy, how much will his nominee get? Assume that he has 50,000 units with an NAV of ₹31 in his fund at the time of his demise.​

Answer 1

Answer:

Suppose Rahul buys a ULIP with the death benefit defined as the higher of the sum assured and the fund value. The policy term is 10 years, and his annual premium is ₹50,000. His sum assured is ₹15 lakh. In case Rahul dies in the fifth year of the policy, how much will his nominee get? Assume that he has 50,000 units with an NAV of ₹31 in his fund at the time of his demise.