• Life Insurance Plans for Couples

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    A wedding heralds the start of a new life for the couple entering into wedlock, opening their eyes to a whole new world. The bond shared by a couple is unique, where two individual entities are amalgamated into one. While this new beginning is bound to be filled with joy and happiness, life can take sudden turns, changing the equation, and it pays to be prepared for such events. Life insurance policies for couples can be an ideal solution, offering specialised protection, ensuring that one is prepared for any future eventuality.

    Benefits of Life Insurance for Couples:

    A life insurance policy for couples offers a host of benefits to policyholders, some of which are mentioned below.

    • Life cover for both spouses.
    • Joint life insurance policies help a couple plan for the future.
    • Additional riders can be added to a plan to customise it.
    • Death and maturity benefits are paid (subject to individual policy).
    • One can choose from flexible policy terms and premium payment modes.
    • Rebates are provided for certain sum assured values.
    • One can opt for maturity benefit/sum assured which suits their family requirements.
    • Tax benefits are provided under Section 80C of the IT Act.
    • It is possible to obtain loans/overdrafts (subject to individual policy practices).
    • A joint/couple life insurance policy works out cheaper than an individual policy, making it a smart investment option.

    Who can take Joint Life Insurance Policies?

    These policies can be taken by couples who wish to be prepared for the future. One can opt for it at any point in their life (subject to meeting certain age restrictions), regardless of how many years they’ve been together. Life insurance for couples can also be gifted by well-wishers or family, to ensure that death doesn’t comes between their love.

    How Life Insurance for Couples Works?

    Joint Life Insurance policies or life insurance for couples as they are generally called are similar to traditional policies in most terms. The differences lie in the minute details, with most service providers using the term “Principal Life Assured” and “Spouse Life Assured” to depict the two parties in a policy. The principal life assured could be either the husband or wife, with the spouse life assured becoming the other partner. Premiums can be paid regularly, as is done in other policies. It is generally the principal life assured who chooses the policy term and other major details like sum assured.

    In the event of death of Principal Life Assured, most plans allow for a waiver of future premiums, and the sum assured is provided to the spouse. Most policies pay the sum assured if the surviving member were to pass away during the policy term, tremendously lowering the burden on kids or family members.

    Should I opt for a single life insurance plan or a joint life insurance plan with my spouse?

    It is common for one to feel confused while opting for a life insurance policy, especially when it comes to choosing a joint/husband-wife life insurance policy. A joint insurance policy offers better benefits compared to two different individual policies, as one is entitled to save on premiums and taxes. Premiums for joint insurance policies are lower than two separate individual policies, enabling one to save more money for other activities.

    Also, in the event of demise of one partner, the other could get waiver of future premiums, lowering the financial burden on the surviving partner. One also gets a wider cover compared to an individual policy, encompassing a broader range of services compared to an individual premium.

    Life Insurance for Couples – Plans offered

    Some of the popular Joint Insurance plans in India are mentioned below.

    • Bajaj Allianz iSecure – This plan offers protection to the policyholder and his/her spouse, the benefits of which are mentioned below.
      • One can opt for a sum assured which best suits the needs of a couple, with no upper limit on the sum assured.
      • One can choose from flexible policy terms, ranging from 10 years to 30 years.
      • Individuals following a healthy lifestyle get additional benefits.
      • One can get rebates on premiums, depending on the sum assured.
      • Policyholders are subject to tax benefits under the IT Act.
    • LIC Jeevan Saathi Plus – This unit linked plan enables couples to take joint cover under a single policy. The benefits of this plan are mentioned below.
      • Couples can choose a sum assured which best suits their needs.
      • One can choose from flexible policy terms, ranging from 10 years to 20 years.
      • Policyholders can choose from flexible payment options like yearly, half-yearly, quarterly or monthly.
      • There is a 0provision to add additional riders to enhance a policy

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    Life Insurance Plans for Couples Reviews

  • Page 1 of 50 1 2 3 4 5
    • LIC Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I have taken life insurance from LIFE INSURANCE CORPORATION OF INDIA and the yearly premium is 30000. The total maturity period is for 20 years. After the maturity period i will get the sum assured and the interest. I mostly do cash payment.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 14 years and it is a long term policy. I am happy with the returns and benefits of this policy. I pay my premium once in 3 months by cash and i am convenient with the payment options. The maturity period for this policy is after 23 years.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 19, 2018
    • HDFC Life Life Insurance
      "Best"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the HDFC life and the customer service is good too. Response is also good too. I would like to say that the coverage value is fine one with the HDFC life and everything is better one too.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Better"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India. I would like to say that the customer service is fine one for me and the response is also good, also its not necessary. Plan benefits are less with them.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 19, 2018
    • Birla Sun Life Insurance
      "Best policy"
      0.5 4.5/5 "Excellent!"
      I had taken a Life insurance from Birla sun life insurance . It has good benefits with accidental coverage and critical illness coverage with normal premium amount . The policy coverage is 60 years with tenure period of 20 years . I pay the payment annually through on-line banking through NEFT.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I took this life insurance jeevan policy from Lic insurance company mainly because of the good returns. The tenure period is 20 where the policy covers till 60 years . Am doing my payment yearly through on-line banking this policy covers accidental benefits and critical illnesses .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I took life insurance jeevan policy from Lic insurance company mainly because of the good returns, its 20 years of tenure period , the payment am doing through on-line monthly . There customer service and customer response is good .This policy covers accidental and critical illness coverage .
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken life insurance Money back policy from Life insurance Corporation of India. Am satisfied with the premium amount of Rs 7000 which has the tenure period of 20 years . There customer service and response is good. Overall am satisfied with the policy.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy with the LIC. It offers Accidental and Life coverage in one policy . I pay a premium of Premium 4900 per year. I make payments via Cheque and online LIC website. I never faced any issue with the policy so far. Overall ti has been a good experience with their services.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've an insurance policy with the LIC. I make payments via the LIC website . I also got loans out of the policy for 60000 and the whole process of loan application was quick and got the loan amount with in 3 working days. Overall it has been a smooth experience with the LIC policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy with the LIC. The tenure of the policy is 20 years. I am paying the premium of quarterly 5000. The sum assured is 1 lac. The payment options are also smooth. I never had any issues with their services. LIC is a recommendable insurance provider.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 18, 2018
    • HDFC Life Life Insurance
      "Good Service so far"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance from the HDFC life. The Sum assured is 50 lacs. I am paying the premium 31000 per year. Overall I never had any issues with their services. HDFC life is a recommendable insurance provider. Based on the features and benefits this policy is a good life insurance policy to have.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy with the LIC. I have been using their services for a while. It is too easy to make payments and never faced any issues with the policy so far. Being a government company the security for your investment is certainly there with the LIC and it is a recommendable insurance provider.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy with the LIC. Their service is great, I make payments via LIC website. I have paid a lump-sum premium of 70000 and I never faced any issues with their services. Their new payment platform is also very useful and intuitive.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Average policy"
      0.5 3.0/5 "Satisfactory"
      I have taken Life insurance Money back from life insurance corporation of India . Am not satisfied with the premium amount which am paying . Their customer service and response is good . They did quick documentation. It has good returns with good benefits.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken life insurance jeevan policy from Life insurance corporation of India . This policy covers with accidental coverage and critical illness coverage . This is good policy with good benefits . Overall am satisfied with customer service and response . I have choose tenure period of 20 years and make the payment yearly through on-line net banking.
      Was this review helpful? 0
      , noida
      Reviewed on Jun 18, 2018
    • HDFC Life Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have been using Life insurance from Hdfc life . It has good benefits with accidental coverage and critical medical claim . I make payment on line through on line net banking after ever 2 years Their customer service and response is good. Overall am satisfied with my life insurance policy
      Was this review helpful? 0
      , noida
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 10-12 years and it is a long term policy. I am happy with the returns and benefits of this policy. I pay my premium once in 6 months through direct payment and i am convenient with the payment options. The name of this policy is Jeevan anand and the maturity period is after 15 years.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 18, 2018
    • Exide Life Insurance
      "Good Retirement policy"
      0.5 5.0/5 "Blown Away!"
      Their is much future benefits is available in this policy. Since it is a after retirement policy, i can get the benefits after my retirement. They have suggested me the best policy. I used to make the payment through cheque. I have tried to make the payment through ECS and their is no proper response for that. The branch response is good. I'm making the payment yearly in the amount of Rs. 12K. Maturity will be there.
      Was this review helpful? 0
      , salem
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "LIC is old company with new services"
      0.5 5.0/5 "Blown Away!"
      I'm regularly paying the premium. I came to know about the policy through agent. I use to payment through net banking. I will get the sum assured amount of Rs. 50 Lakhs. I use to pay the premium amount of Rs. 16000. I have opted for the premium yearly once.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 18, 2018
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