Dear Friends. Regards from Rasikfunda.
In my last post I presented extremely low-cost Insurance clubbed with Investments in Stock-Market.
I now have, another wonderful product from LifeInsurance Corp.of India by name "JEEVAN SAATHI".
As the name suggests, it's a Joint-Life Policy Insuring Husband and wife Jointly under One Policy Document.
In today's world both partners being income generating, Economic viability will automatically be taken care of. The Best part is that Premium is calculated on the Average Age of the partners and it is only ONE PREMIUM covering TWO persons!! Have you ever heard of a Life Policy seeking only one premium to cover TWO persons? I doubt!
Anyway, it's for real.Take my word. How it works? I explain hereunder:
Based on average age of the couple the premium is fixed which they have to keep paying year-on-year. In the unfortunate event of Demise of one partner during the tenure of Policy,the survivor gets Full Sum assured in Lump-sum. The Risk Cover on the life of survivor continues but future payments are condoned!!!! No more liability to pay for the survivor!But the Life cover continues:-) what more can be more convenient?
On maturity survivor again gets Sum Assured plus all Bonuses accrued. Of course if both partners survive the Term of Policy, they will be paid One sum Assured+Bonuses,so there is NO real loss to the investors. The longer term taken by a young couple may give them a Moral Binding towards each other, wont you agree !!
As I say, INSURE AND BE SECURE !!!
Bye for now. Keep watching this space for more enchanting news on Money and Investments.
RASIKFUNDA.
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