Postal Life Insurance - Yugal Suraksha

What is the object of Jugal Suraksha?

Newly introduced Joint Life Endowment Assurance Plan provides insurance coverage to both the spouses. However only one can subscribe the policy. Spouse need not be an employee.

What is the age limit to open the policy in respect of the Joint Life Endowment Assurance Scheme (Yugal Suraksha) under Postal Life Insurance?

Minimum age at entry is 21 years
Maximum age at entry is 45 years

What are the salient features of Joint Life Endowment Assurance Scheme (Yugal Suraksha) under Postal Life Insurance?

* Maximum Sum Assured of Rs. 10 lac.
* Insurance cover starts from the date of acceptance
* It is a joint life Endowment Assurance in which one of the spouses is eligible for PLI policies
* Life insurance coverage is provided to both the spouses to the exten of Sum assured with accrued bonus from the date of acceptance of proposal
* A term policy of 5 to 20 years
* It gives assurance to both, the Insurant and Spouse
* Loan facility is available
* Surrender allowed after 3 years
* Assignment facility available
* Nomination facilty is available
* Income tax rebate under section 80-C of Income Tax Act.

What is the term abount the Yugal Suraksha?

Not less than 5 years & not more than 20 years.

What type of Risks are covered by the Yugal Suraksha?

Risk on both the lives is covered from the date of acceptance of the proposal.

How the premiums are calculated in case of Yugal Suraksha?

The premium based on equivalent age at next birthday is calculated by addition to the lower age depending upon difference in age of spouses.

A rebate of 2%, 10% or 5% of the premium for one month is allowed if premium is paid in advance for 3, 6 or 12 months respectively.

The premium will be payable either up to the date of last premium fixed before maturity or up to the death of one of the spouses, whichever is earlier.

How the claims are to be made?

The sum assured along with accured bonus of the policies in full will be payable to

i.    The insurant at the end of endowment term i.e. date of maturity if both spouse          survived.

or

ii.    The survivor on death of one of the spouses before the date of maturity. The           survivor is absolved from payment of further premium.

or

iii.    The nominee / legal heirs on death of both the insured lives simultaneously

* Both the spouses should be healthy, confirmed A-I lives by the appropriate medical examiner and should be literate.

Mr. Manik Das Deputy Divisional Manager (PLI) Office of the Chief Postmaster General, Assam Circle Meghdoot Bhawan Guwahati - 781001. Phone: 0361-2547385 email : pli_assam@yahoo.co.in