Lic Jeevan Saathi Plan

It is an Endowment Assurance Plan which is ideal for employed couples. The plan provides financial protection against death of both the lives.

Features
· This plan is issued on the lives of husband and wife
· It pays the maturity amount on survival of one or both the lives to the end of the policy term.
· Premiums are payable yearly, half-yearly, quarterly, monthly or through salary deductions throughout the term of the policy or till the first death of the lives covered, whichever is earlier.

Benefits

Death & Maturity Benefit
· Sum assured along with accumulated bonus is payable on date of maturity if both lives survive up to date of maturity.
· Basic sum assured is payable on first death within the term, to the surviving spouse.
· If the second life also dies within the term of the policy, the nominee gets another sum assured along with accumulated bonus.
· If the second life survives to maturity, an amount equal to sum assured is paid along with accumulated bonus

Extra Benefits (optional)
An additional premium is required to be paid for these benefits.

Surrender Value
Surrender values are available under the plan on earlier termination of the contract.

Guaranteed Surrender Value:
The policy may be surrendered after it has been in force for 3 years or more. The guaranteed surrender value is 30% of the basic premiums paid excluding the first year’s premium.

Eligibility
· Minimum sum assured is Rs. 30000/-.
· Minimum premium is Rs 800 per annum
· Minimum entry age is 20 years
· Maximum entry age is 50 years
· Maximum maturity age is 70 years
· Age of the older life should not be more than 65 years on maturity
· Only Standard age proof is accepted
· Where sum proposed is over 1 lakh, the age of older life cannot be more than 60 years