Joint Life Assurance (Yugal Suraksha)
It is a Joint Life Endowment Assurance in which one of the spouses should be eligible for PLI policies.
- Life cover to both spouses to the extent of sum assured
with accrued bonus with a single premium - Minimum sum assured ₹ 20,000; Maximum ₹ 50 lac
- Minimum age & Maximum age at entry of spouses: 21-45years
- Maximum Age of the elder policy holder should not be more than 45 years & the couple should be between 21 years to 45 years
- Minimum term of policy 5 years and maximum 20 years
- Loan facility after 3 years
- Surrender after 3 years
- Not eligible for bonus if surrendered before completion of 5 years
- Proportionate bonus on reduced sum assured is paid if policy is surrendered
- Death benefits are paid to either of the survivors in the event of death of spouse or main policy holder
- Last declared Bonus- ₹ 52/- per ₹ 1000 sum assured per year
Source:www.indiapost.gov.in
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