If the policy holder dies, higher of the maturity sum assured 10 * annual premium or 105 % of premiums paid till death is paid to the nominee. (policybazaar.com)
On death, the company pays higher of the fund value or total premiums paid accumulated at a rate of 6 % per annum or 105 % of the total premiums paid till death. (policybazaar.com)
If the child dies during this period, the aggregate premiums paid till death is returned since life cover is not available during that period. (policybazaar.com)