How
is it beneficial
to me?
Under
a joint life policy
the sum assured
is payable on the
first death and
again on the death
of the survivor
during the term
of the policy. Vested
bonuses would also
be paid besides
the sum assured
after the death
of the survivor.
If one or both the
lives survive to
the maturity date,
the sum assured
as well as the vested
bonuses are payable
on the maturity
date.
The premiums payable
cease on the first
death or on the
expiry of the selected
term, whichever
is earlier.
Accident benefits
equivalent to the
sum assured are
available under
this plan on the
first death. However,
if both lives are
covered under Double
Accident Benefit
(DAB), the surviving
life is covered
under DAB until
the end of the policy
year, in which the
first life dies
under the cover
of the policy.
These benefits are
available with respect
to both lives if
