For financial care of the family/dependants. It is beneficial both ways – in case the head of the family survives the insurance period or dies prematurely.
Where death occurs during the first 5 years of the policy period, the initial insured value (say 10,000,000/=) is paid instantly. In case of death during the second five years, the benefit due is one and a half time the initial insured sum (i.e. 15,000,000/=). Where death occurs after the first ten years, the dependants benefit twice the sum insured (i.e. 20,000,000/=). In case the policyholder survives the policy term, twice the benefit plus bonuses is received.
Additionally, for a small additional premium, the death benefit can be doubled for cases where death is caused by an accident. And the earlier one joins the policy the better, as the regular payments will be smaller.