Some examples of payable benefits under SDPS life coverage, Accidental Coverages, and maturities are:
Natural Death Benefit
If the insured dies of natural causes, the account value or the face amount of SDPS(whichever is higher) will be paid to the beneficiary.
Accidental Death Benefit
If the insured dies of accidental injuries before maturity, the benefit payable would be the Account Value or Face Amount of SDPS (whichever is higher) and 100% of Face Amount for Accidental Death.
Accidental Permanent Partial Disabilities (APPD) Benefit:
If insured meets with accident leading to any or some of the covered Permanent Partial Disabilities, company will immediately pay predetermined % of face amount for Accidental PPD, the policy would continue in-force, and company would pay 100% of Account Value on maturity. APPD benefit against multiple of covered losses will not exceed 100% of Face Amount.
In case of Death of Insured after receiving the APPD benefits, company would pay higher of Account Value or Face Amount of SDPS, and remaining % of APPD on death provided that the cause of death could be linked to the accident and that the death occurred 365 days from the date of accident. Otherwise, the death benefit would be limited to higher of Account Value or face amount of SDPS.
Accidental Permanent Total Disability Benefit
If insured meets with accident and it causes him/her Permanent Total Disability Company would immediately pay 100% of Face Amount for Accidental PTD, the policy would continue in-force, and company will pay 100% of Account alue on maturity.
In case of death after receiving the APTD benefits,the benefit payable would be the account value or face amount of SDPS (whichever is higher).
If policy matures without any covered loss happening to policy owner, company pays 100% of the account value