Sentences with phrase «joint life cover»

However, the flurry of joint life cover launches warrants an evaluation of their utility value.

After weighing the specific utility and convenience of joint life covers, it may be a good idea to split your insurance requirements between a regular term plan and a joint life insurance policy.

# 99 years for all options (except Joint Life cover option).

Also check if the insurer offers Joint Life Cover.

o Joint Life Cover: Under this option, you have the flexibility to choose for you & your spouse.

Joint Life Cover option: 75 years (applicable for both Primary & Secondary life)

It is beneficial, when you opt for the second type of joint life cover.

(current age is 32) But now I want another term plan to purchase with another coverage of 30 lacs and some other benefits like permanent disablitiy OR joint life cover.

#Maximum maturity age: 99 years for all options (except Joint Life cover option), Joint Life Cover option: 75 years (applicable for both Primary & Secondary life).

81 years for all options (except Joint Life Cover option) & 10 years to 40 years for Joint life Cover option (applicable for both Primary & Secondary life), subject to maximum maturity age.

Another feature is the Joint Life Cover where the policyholder and his spouse can be covered under the same plan with the spouse having 50 % of the coverage granted to the policyholder.

CoversIn case of couples who take a joint life cover, premiums are higher because the policy is more likely to see a claim at some point.

The plan provides a joint life cover wherein the death benefit is payable in the event of death of any of the life

Similar to health insurance, life insurance policies are of two types: Individual Life Insurance Group Term Cover Unlike health insurance there is no family life insurance cover, although, there can be joint life covers.

Upon marriage, you may have taken out joint life cover; if you start a family or have more children, your life policy may not cover dependents and it's best to look at further options.

On a joint life cover, a discount of 10 % is applicable on each joint life premium.

You can go for a joint life cover in case both you and spouse are earning.

This option is however not available in case you opt for a joint life cover.

Unlike health insurance there is no family life insurance cover, although, there can be joint life covers.

The premium for a joint life cover is slightly lower than premium for two individual plans.

One can either take a joint life cover or apportion the cover and purchase individual policies as per current income.If the spouse is not earning, it is best to double the life cover.

ICICI Pru Immediate annuity plan: One - time investment with payout options for life; Joint life cover, last survivor option

Now, as a married couple you can also cover your spouse in a single policy, by opting for a joint life cover.

They choose the Joint Life Cover option for a Sum Assured of Rs. 50 lakh each with a Policy Term of 20 years by paying a Single Premium amount.

You can customize the plan by choosing between an individual or a joint life cover.

In view of the example explained above, you can see the joint life cover is far more beneficial, as it provides the same sum assured amount on death of each of the life insured with the same premium amount applicable.

You can customize the plan to suit your requirement by following the steps below: Step 1: Choose between an individual or a joint life cover Step 2: Choose your sum assured (s)(Life Cover) Step 3: Choose your policy term & premium payment frequency Your premium under the plan is based on your current age (s), sum assured (s), policy term and premium payment frequency.

Should we go for a joint life cover or individual policies?

Therefore, it will be most suitable to opt for a joint life cover at the time of purchasing your policy.