LIC’s Jeevan Saathi is a best LIC Life Insurance option for married couple. Both Lives are covered in a single Premium.
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 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. In such a case, the death benefit is double the Sum Assured, which is why the policy is called Jeevan Saathi ‘Double Cover’ Joint Life Plan.
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