In a Unit Linked plan what is the death claim payable?

A. Sum insured

B. Sum insured less survival benefits paid already

C. Sum insured or fund value which is higher

D. Fund value

Answer: Option C

Solution(By Examveda Team)

In a Unit Linked plan, Sum insured or fund value which is higher is the death claim payable. The unit-linked insurance plans ( Ulips) provide both death and maturity benefits to the policyholder. If he dies during the term of the policy, the beneficiary will receive one of these: sum assured, the higher of the fund value and sum assured, or sum assured and the value of the fund, depending on the terms of the policy.