Life Insurance Corporation of India (LIC) Launches New Jeevan Sathi Joint Life Plans

Key facts

• Life Insurance Corporation of India (LIC) has introduced two new joint life insurance savings plans named LIC’s New Jeevan Sathi Single Premium and LIC’s New Jeevan Sathi Limited Premium.
• Both products are non-par, non-market linked, joint life endowment plans designed to provide financial protection and long-term savings for married couples under a single policy.
• The New Jeevan Sathi Single Premium plan offers a guaranteed addition at the rate of ₹70 for every ₹1,000 of the basic sum assured and requires a one-time premium payment.
• The New Jeevan Sathi Limited Premium plan includes a premium waiver on the first death during the premium paying term and provides guaranteed additions at 7% of the total tabular annual premium.
• Both plans offer two death benefit options, flexibility to choose policy terms, and liquidity through loan facilities and rider benefits on payment of additional premiums.