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LIC’S TABLE NO 89 JEEVAN SAATHI

Features
Risk cover to both husband & wife through a single policy
Premium marginally higher than premium for risk cover on a single life Both husband and wife can avail of accident cover Guaranteed sum assured in case of unfortunate death of one of the lives before maturity and risk cover on the other life continues Second sum assured paid on survival of second life till maturity or death if earlier

Features contd..
Premium Waiver in case of unfortunate death of one life before maturity – all premiums waived Policy is a with profit policy and vested bonuses calculated on the basic sum assured are paid on date of maturity or along with sum assured on death of second life if earlier Bonus continues to accrue even during premium waiver period

Eligibility
Who can avail of this plan?
 This policy is issued on the lives of husband and wife with minimum age nearer birthday of both lives being 20 years and maximum age nearer birthday of both lives being 50 years

For how many years is risk cover provided?
 Choice of policy terms available is between 15 to 30 years with maximum age at maturity allowed being 70 years on older life

For how long is premium payable ?
 Up to date of maturity or unfortunate death of first life if earlier

Eligibility
For what sums assured can the policy be issued ?
 The minimum sum assured is Rs. 50,000

If female life is Category I, the sum assured depends
 On income

If female life is Category II, maximum sum assured is
 Rs.50 lakhs For housewives, maximum sum assured is Rs.10 lakhs subject to maximum of husband’s insurance, provided she is a graduate and holds a driving license, credit card, passport etc

For other Category III female lives, maximum sum assured is Rs.2,00,000

Benefits
Is accident cover available to both lives?
 Yes, for a small additional premium subject to specified overall limit on both lives Accident benefit equal to basic sum assured is paid in case of accidental death of first life  Accident benefit on second life is payable on accidental death of second life, either simultaneously or separately from first life

Is loan available under the plan?
 Yes, loan is available under the plan

Benefits
Maturity Benefit

If one or both lives survive till date of maturity the sum assured along with the vested bonuses will be payable

Benefits
Death benefit :

In case either of the couple dies during the policy’s term two things happen One, LIC pays to the surviving spouse the full sum assured And Two, the policy continues on the life of the surviving partner without him/her having to pay any further premiums, i.e. the life cover on the survivor continues free of cost The sum assured is again be payable on the death of the other partner in case both the husband and wife were to die during the term of the policy Vested bonus would also be paid along with the sum assured on the second death

Additional Features
Premiums are payable yearly, half-yearly, quarterly, monthly or through salary deductions as opted by you throughout the term of the policy or till the first death of the lives covered, whichever is earlier The policy may be surrendered after it has been in force for 3 years or more The (GSV) is 30% of the basic premiums paid excluding the first year’s premium

Other Benefits Available
Loan Facility :

Loan facility is available after payments of three full premium

Double Accident Benefits:

On death of Life Assured in accidental condition during the term amount equal to Double Accident sum assured is payable. The rider can be availed of by payment of a small additional premium For example if Basic S.A. is Rs.100000/- and Double Accident S.A. is Rs.100000/- on accidental death nominee of policy holder will get Basic S.A. + Double Accident S.A. i.e. Rs.100000 + Rs.100000 =Rs. 200000

Maximum DAB limit is allowed upto Rs. 50,00,000/- for all policies hold by one person