(1) The full sum assured plus accrued bonuses, if any, are payable at death of the assured any time while the policy is inforce.

(2) On expiry of 1/3rd of the policy term, 25% of the sum assured can be taken by the policyholder. Another 25% of the sum assured can be taken on expiry of 2/3rd of the policy term and the remaining 50% sum assured plus accrued bonuses shall be payable at the end of the policy term in the event of survival of the assured.

(3) If the option to withdraw an instalment of 25% of the sum assured is not exercised on the due date or within six months affterwards, a Special Bonus will automatically be added to the policy at the end of six months. In this event:

(a) On death of the assured while the policy is inforce, the Special Bonus will be payable in addition to (1) Basic Sum assured (2) other Reversionary Bonuses accrued on the policy and (3) the amount of any instalment left with the State Life.

(b) On the maturity date the Special Bonus will be payable together with all the instalments of the sum assured remaining with the State Life in addition to regular reversionary bonuses accrued on the policy.

(c) So long as the policy remains inforce, the policyholder may surrender the unclaimed instalment of sum assured together with the related Special Bonus. The aggregate cash surrender value of the two shall not be less than the amount of the said unclaimed instalment.

(d) The reversionary bonuses as per usual practice, will continue to be allotted each year on basic sum assured (if inforce) as and when Acturial Surplus is declared. However, the unclaimed instalments of Sum assured and related Special Bonus will not participate in State Life's Acturial Surplus.

(e) The following rates of Special Bonuses are based upon the investment climate prevailing at present and it can be reduced or enhanced any time in future by the Corporation. However, once a Special Bonus is allocated to the policyholder, it will not be reduced.