Joint Life Plan 'Jeevan Sathi'
by Rastriya Jeevan Beema Company
In simple terms: you pay a fixed amount each year, and at the end of the term you get your cover amount back together with the bonus the insurer adds along the way. One policy covers both partners, instead of buying two separate ones. Rastriya Jeewan Beema's Joint Life Plan 'Jeevan Sathi' — a joint life endowment-style policy offering combined life coverage and maturity benefits for two lives.
Maturity estimator
Estimated value at maturity
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Declared bonus
Rate by policy term
Declared FY 2081/82
| Policy term | Rate / 1,000 | Prev. year |
|---|---|---|
| 0-9 | Rs 60 | Rs 60 |
| 10-14 | Rs 60 | Rs 60 |
| 15-19 | Rs 60 | Rs 60 |
| 20-24 | Rs 60 | Rs 60 |
| 25-29 | Rs 60 | Rs 60 |
| 30+ | Rs 60 | Rs 60 |
Recent years
- FY 2081/82
- Rs 60/ 1,000
- FY 2080/81
- Rs 60/ 1,000
- FY 2079/80
- Rs 65/ 1,000
- FY 2078/79
- Rs 65/ 1,000
- FY 2077/78
- Rs 65/ 1,000
Source: Rastriya Jeevan Beema Company declaration for FY 2081/82
Bonus rates are declared annually and are not guaranteed. Past rates do not guarantee future rates.
What's included
Key highlights
- Joint coverage — both lives insured
- Endowment (participating) plan
- Flexible premium payment modes
Features
- Coverage for two persons under a single joint policy
- Death benefit — sum assured payable on insured event
- Endowment-style participating plan with potential bonuses
- Flexible premium payment modes
- Loan facility up to 90% of the surrender value is available after three years of premium payments.
Terms and conditions
- 1)Upon policy maturity, both husband and wife will jointly receive the sum assured and bonus as a lump sum.
- 2)If one insured dies before the policy term ends, the surviving insured will receive the sum assured as a death claim. The policy will remain active, but no further premiums will be required.
- 3)Bonus payments will continue as if the policy is active even after the death of one insured.
- 4)Upon maturity, the full sum vested bonus will be paid as a lump sum to the surviving insured.
- 5)If the second insured also dies before the policy term ends, the nominee or the nearest legal heir will receive the sum assured and accrued bonus as a lump sum.
- 6)The premium will be calculated by adding a specified component to the age of the younger proposer.
What happens in each case
Each plan pays out differently depending on what happens during the term. These are the situations that matter for this kind of plan.
If either partner passes away during the term
The nominee receives the sum assured plus the bonus built up to that date on the first death. Whether cover continues for the surviving partner depends on the plan's terms.
Typical for couple plans — confirm the exact terms in the brochure.
If the policy runs to maturity
You receive the sum assured plus the bonus built up to that date as a lump sum on the maturity date.
Typical for couple plans — confirm the exact terms in the brochure.
If death is caused by an accident
With the accidental death rider, an additional amount is paid on top of the sum assured. The rider is optional and carries its own premium.
Typical for couple plans — confirm the exact terms in the brochure.
Optional riders
Accidental Death Benefit (ADB)
Additional accidental death benefit can be obtained by paying an additional premium of Re. 1 per thousand.
Loan & liquidity
- Policy loan
- Available
- Surrender allowed
- After 3 years
- Loan facility
- Up to 90% of surrender value
Questions about this plan
What kind of plan is Joint Life Plan 'Jeevan Sathi'?
Joint Life Plan 'Jeevan Sathi' from Rastriya Jeevan Beema Company is a couple plan that covers both spouses under one policy, usually for less than two separate policies would cost.
Who can buy Joint Life Plan 'Jeevan Sathi'?
The entry age for Joint Life Plan 'Jeevan Sathi' is 18 – 50 years.
How long does Joint Life Plan 'Jeevan Sathi' run?
The policy term for Joint Life Plan 'Jeevan Sathi' is 15-30.
How much cover can I take on Joint Life Plan 'Jeevan Sathi'?
The sum assured available on Joint Life Plan 'Jeevan Sathi' is From Rs 50,000.
What bonus rate does Joint Life Plan 'Jeevan Sathi' earn?
For FY 2081/82, Rastriya Jeevan Beema Company declared Rs 60–60 / 1,000 of sum assured on Joint Life Plan 'Jeevan Sathi'. Bonus rates are set each year and are not guaranteed.
Which riders can be added to Joint Life Plan 'Jeevan Sathi'?
Joint Life Plan 'Jeevan Sathi' can be taken with the following optional riders: Accidental death (ADB). Each rider carries its own premium.
Premium
Quote on request