Jeevan Sathi
This
is a joint life plan and covers lives of two partners say husband and wife simultaneously.
Premiums are payable till the end of the specified term or till death of either
of the insured persons, if earlier. The plan contains extensive benefits; an overview
of which appears as under:
On the death of the first life, the sum insured will be paid to the survivor. Further
premiums under the policy will be waived, but the insurance protection of the second
life will continue. Also, the policy will continue to participate in profits of
the Corporation. On death of the second life, again the sum insured will be paid
together with the attaching bonuses. In this event the policy will terminate.
If the second life survives the term of the policy, he or she will be paid sum insured
together with the attached bonuses, even though the sum insured has been paid once,
on the death of the first life. If both the lives survive the term of the policy,
the sum insured will be paid to them jointly, only once, together with the attached
bonuses. Different supplementary covers are also available for increasing coverage
under the policy.
Jeevan Sathi Plan is best suited for those married couples
who want to enjoy insurance coverage for a comparatively lesser premium. Moreover,
housewives who are otherwise not insurable can also enjoy the benefits of insurance
policy through this plan.
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