Sentences with phrase «joint life insurance plan»
However, for joint life insurance plans, a single premium is required to be paid.
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You can go through my post on joint life insurance plans here.
A friend told you about joint life insurance plans, where both of you could be covered under the same insurance plan.
Individual or «First Death» based joint life insurance plans do not give you any premium waiver benefits.
You get tax benefit for the premiums paid towards joint life insurance plans under Section 80C of the Income Tax Act.
Kotak Single Invest Plus is a single premium unit linked joint life insurance plan that helps you reap the benefits over the time.
There is nothing wrong with a joint life insurance plan.
To save Rs 1,417, you have to get into unnecessary restrictions of a joint life insurance plan.
In fact, for some joint life insurance plans the premium paid turns out to be higher than the premium for two individually tailored plans.
However, the «Death of Each Life» joint life insurance plan has the added benefit of a premium waiver after the death of the first spouse.
Nominee: When a couple takes a joint life insurance plan and declares their child as the nominee, the «regular income» feature comes to the child's aid in the event that his parents pass away.
Both individual life insurance plans and joint life insurance plans have their advantages and disadvantages.
It is important that the individual and their spouse look at all the options carefully before deciding whether or not to invest in a joint life insurance plan.
A Joint Life Insurance plan can be either an endowment policy or a basic term plan, wherein two lives are covered instead of one.
Again, these vary from one plan to another for both individual and joint life insurance plans.
It makes sense for a couple to assess their life situation before zeroing in on a joint life insurance plan.
Besides the major benefits listed, if you purchase a joint life insurance plan you are also eligible for availing tax benefits on the premiums paid as per the Income Tax Act of 1961.
Yes, as a married couple, you can opt for a joint life insurance plan.
A joint life insurance plan provides life cover for you & your spouse and it also ensures a robust financial planning for your family.
Even parents can opt for a joint life insurance plan with their child as the co-owner.