LIC launched its new Jeevan Sathi scheme on Wednesday. The company has introduced it in a new form, in which the benefits of both savings and insurance protection will be available simultaneously. LIC CEO and MD R. Doraiswamy launched New Jeevan Sathi Single Premium and New Jeevan Sathi Limited Premium plans.
According to LIC, both of these are joint life insurance plans. That means both husband and wife will get insurance protection under the same policy. The company says that this scheme has been specially designed keeping in mind the married people so that the financial security of the family can be strengthened.
Minimum insurance cover of Rs 3 lakh
According to the company, the minimum insurance amount in this scheme has been kept at Rs 3 lakh. There is no fixed limit on the maximum insurance amount. However, in case of higher sum insured, approval will be given as per the board-approved policy of LIC. LIC said that the minimum age to join the scheme has been fixed at 18 years. The maximum age limit may vary depending on the option chosen by the customer. In both the schemes, customers will get the opportunity to choose the option according to their need and convenience.
Focus on family safety
Insurance experts believe that joint life insurance plans can prove beneficial for families, because both husband and wife get cover in the same policy. This also makes premium management easier and also provides the benefit of savings in the long run. LIC says that the new Jeevan Sathi scheme can be a better option for those who are looking for future financial security as well as safe investment.
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