The Life Insurance Corporation of India has launched a new Jeevan Sathi plan. This joint life insurance policy provides coverage for both husband and wife. The plan offers both savings and protection, with a minimum sum assured of ₹3 lakh.
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LIC launched its new Jeevan Sathi plan on Wednesday. The company has introduced a new plan in a new format that offers the benefits of both savings and insurance protection. LIC CEO and MD R. Doraiswamy launched the new Jeevan Sathi single premium and New Jeevan Sathi limited premium plans.
According to LIC, these are joint life insurance plans. This means that both husband and wife will receive insurance coverage under a single policy. The company states that these plans have been specifically designed with married individuals in mind to strengthen the family’s financial security.
Minimum insurance cover of Rs 3 lakh
According to the company, the minimum sum assured in this plan is ₹3 lakh. There is no maximum sum assured limit. However, approval for higher sum assureds will be granted in accordance with LIC’s board-approved policy. LIC stated that the minimum age for joining the plan is 18 years. The maximum age limit may vary depending on the customer’s chosen option. Customers will have the option to choose between both plans based on their needs and convenience.
Focus on family safety
Insurance experts believe that joint life insurance plans can be beneficial for families, as a single policy covers both spouses. This simplifies premium management and provides long-term savings. LIC says the new Jeevan Sathi plan could be a good option for those seeking future financial security and a safe investment.
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