In case of death of the person insured anytime during the Policy Term, the nominee will receive Death Benefit. (maxlifeinsurance.com)
The sum assured is obtainable to the beneficiary solely just in case of death of the person insured. (policydesk.in)
This is because the IRS might view any proceeds from the death of the person insured as a gift from the policy owner to the beneficiary, meaning they can be taxed. (valuepenguin.com)