Joint Life Assurance (Yugal Suraksha)

 

                                        Joint Life Assurance 

                                (Yugal Suraksha)

It is a Joint Life Endowment Assurance in which one of the spouses should be eligible for PLI policies.

ü  Life cover to both spouses to the extent of sum assured with accrued bonus with a single premium

ü  Minimum sum assured ₹ 20,000; Maximum ₹ 50 lac

ü  Minimum age & Maximum age at entry of spouses: 21-45 years

ü  Maximum Age of the elder policy holder should not be more than 45 years & the couple should be between 21 years to 45 years

ü  Minimum term of policy 5 years and maximum 20 years

ü  Loan facility after 3 years

ü  Surrender after 3 years

ü  Not eligible for bonus if surrendered before completion of 5 years

ü  Proportionate bonus on reduced sum assured is paid if policy is surrendered

ü  Death benefits are paid to either of the survivors in the event of death of spouse or main policy holder

ü  Last declared Bonus- ₹ 52/- per ₹ 1000 sum assured per year

 

 

 

Source:www.indiapost.gov.in