How do I find the sum assured, premium dates and maturity details in my policy?
Short answer:Start with the policy schedule, then read the relevant benefit and premium sections. Check the latest endorsements too. A policy may have different benefit amounts, and not every insurance policy has a maturity payout.
Match the details to the right policy
Confirm the policy number, insurer, policyholder, insured person and plan name before reading an amount or date. If a PDF contains several policies or an older version, separate them before drawing conclusions.
- Sum assured or sum insured: check which benefit the amount describes.
- Premium: check amount, payment frequency and any separate charges stated.
- Due dates: distinguish a scheduled due date from a receipt's payment date.
- Policy term and premium-paying term: these need not be the same.
- Maturity date and benefit: look for them only where the policy provides them.
- Riders and endorsements: check whether they change a benefit or term.
Do not mistake an illustration for a promise
A benefit illustration may contain both guaranteed and non-guaranteed values. A fund value, sum assured and maturity benefit are not interchangeable.
If the policy uses an unfamiliar term, read its definition and the associated conditions. Ask the insurer to confirm anything unclear, especially the current status or a payment amount.
Use document explanations as a reading aid
Upload a supported document in Moksha Sutra, review what was extracted and ask about a selected processed page. Follow the answer's source link back to the document rather than relying only on the explanation.
Record the source and date when saving an amount. Moksha Sutra does not obtain a live insurer balance or confirm coverage. LIC's official guide explains the policy bond and premium information; other insurers may arrange their documents differently.
Related questions answered
Will every policy pay an amount at maturity?
No. Some policies do not provide a maturity benefit. Read the benefits and conditions for the specific plan and confirm with the insurer rather than assuming a payout.
Official sources
- LIC: policyholder guidelines (opens in a new tab)
- LIC: policy conditions and servicing (opens in a new tab)
Sources checked:
Disclaimer
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Laws, regulations and institutional procedures may change, and requirements depend on individual circumstances. Before making a decision or submitting a claim, confirm the current requirements with the relevant institution or official authority and seek professional advice where appropriate.
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