Joint life policies

Joint life insurance policies are similar to endowment policies as they too offer maturity benefits to the policyholders, apart form covering risks like all life insurance policies. But joint life policies are categorized separately as they cover two lives simultaneously, thus offering a unique advantage in some cases, notably, for a married couple or for partners in a business firm.

Who should buy this plan?

Particularly for couples - Joint life policies provide dual-purpose income and risk protection for both belonging to every income group and class of society.

Under a joint life plan though the premium payment stops after the first life's death, bonuses continue to accrue on the basic Sum Assured till Maturity Date or till the death of the second life, if earlier.

A good plan for middle-aged married couples, working couples or professionals offering financial security for both the lives.