| Double Cover Joint Life Plan |
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Marriage is a sacred bond that unites a man and
a woman. It makes each one of them responsible for their mutual
welfare and for the welfare of their children.
Traditionally, it was a man's responsibility to protect his
wife and children. But now economic constraints and the necessity
to maintain a better standard of living, force both husband
and wife to work for a living. Thus today in many families,
both husband and wife assume the role of breadwinner.
The loss of any one of the partners economically affects the
family and their standard of living. It is to offset this loss
that LIC (International) has brought out Double Cover Joint
Life Plan, a novel joint life plan which covers both husband
and wife under one policy.
Benefits
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The sum assured is immediately payable in
the event of death of one of the partners, to the surviving
partner. |
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The surviving partner need not pay further premiums
but the policy is kept in force and will continue to earn
bonuses declared on the basis of valuations |
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Once again, the basic sum assured with bonuses is payable
to the surviving partner on the date of maturity or to
the nominee in the event of the death of the surviving
partner before the date of maturity. |
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If both partners survive the selected term, the basic
sum assured with bonus is paid on the date of maturity. |
From the benefits available it can be seen that a family that
is used to certain comforts, get a lump sum immediately if one
of the partners dies, to help the surviving partner maintain
a certain level of economic stability. Once again, the basic
sum assured is paid to the surviving partner on maturity or
in the event of his/her death earlier, to the nominee. Thus,
this plan gives total and complete insurance protection to the
whole family.
Other Features
of this plan
Portability
Loan
facility
Accident
Benefit For Both
Flexible
options in Premium
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Child Education
/ Marriage Plans