The correct answer is D. Fund value.
In a unit-linked plan, the maturity claim payable is the fund value at the end of the policy term. The fund value is the total amount of money in the policy, which is made up of the premiums paid, plus any investment returns. The fund value can be affected by a number of factors, including the performance of the underlying investments, the charges and fees associated with the policy, and the policyholder’s investment choices.
Option A is incorrect because the sum insured is the amount of money that is paid out if the policyholder dies or becomes critically ill. Option B is incorrect because the sum insured less survival benefits paid already is the amount of money that is paid out if the policyholder dies or becomes critically ill, after any survival benefits that have already been paid. Option C is incorrect because nothing is payable if the policyholder cancels the policy before the end of the policy term.