POLICY FOR HUSBAND AND WIFE
ONE POLICY - HUSBAND AND WIFE ARE BOTH INSURED
This policy is designed particularly for working couples. The plan is available for specified terms of 15, 20, and 25 years.
The minimum sum assured in this plan is Rs 5000 and maximum is Rs 1, 00, 000 under one or more policies.
The policy covers both lives of husband and wife. The surviving partner gets sum assured in case his or her spouse expires. Policy continues on the life of surviving partner and further premium is waived.
If the surviving partner survives till maturity he or she gets sum assured with bonus for full term. In case of surviving partners death before maturity, the sum assured and bonus goes to the nominee.
Note: This policy is given only to working couples or if the wife is income tax assesses. There is an exception to this policy. If the sum assured is less than or equal to Rs 50, 000 this policy can be given to couple even if the wife is not working.
A fixed term policy issued on the life of the husband and wife to cover the risk of both lives.
Full sum assured plus accrued bonus is paid to policyholder.
1)Loan against policy available any time and any number of times after 3 years at very low interest rate;
2) Disability benefit available.
3)Double the sum assured plus accrued bonus is paid to nominee.
4)Bonus - Every year LIC will declare a certain amount per thousand of sum assured as bonus.
Premium Paying options Yearly, Half-Yearly, Quarterly, Monthly