Jeevan Saathi

This plan is ideal for employed couples. With a marginal addition to the premium of an Endowment Assurance, two lives are covered under this policy

Key features:

  • Unique Joint Life Insurance Policy from India’s No.1 Insurance company
  • Tax benefit
  • You can pay monthly, quarterly, half yearly or yearly premiums.

Death Benefits:
(a) Future premiums are waived and survivor gets Sum Assured immediately on the death of Husband/wife.
(b) He/She gets Sum Assured again with full bonus, if the survivor (husband/wife) survives till maturity.
(c) Sum Assured plus Bonus is paid till that time to the nominee, if the survivor also dies before maturity.

Maturity Benefits:
Sum assured plus Bonus are given, if husband and wife are alive upto maturity period.

Other Conditions

  • Minimum sum assured is Rs. 30000/-.
  • Minimum premium must be Rs.800 per annum
  • Minimum age at entry is 20 years
  • Maximum age at entry is 50 years
  • Maximum maturity age is 70 years
  • Age of the older life should not be more than 65 years on maturity
  • Premiums are based on mean age
  • Where sum proposed is over 1 lakh, the age of older life cannot be more than 60 years
  • Accident benefit premiums to be paid on both lives. After 1st death, accident benefit is allowed on the second life also either by the same accident or by another accident within the same year
  • Bonuses vest even after cessation of premium on 1st death, since it is payable only along with the sum assured payable in the event of death of 2nd life within the term or on 2nd life surviving date of maturity
  • Bonus is calculated on basic sum assured

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