• 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 Benefits policy"
      0.5 5.0/5 "Blown Away!"
      LIC provide good return and its more secured, they have good endowment plan it has good return, the premium is good enough compared to normal plan it has 10 to 20% extra on endowment policy it has good benefits, it gives good sum assured. tax benefits, financial security unforeseen events.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 20, 2018
    • Aegon Life Life Insurance
      "Good for Me and My Family"
      0.5 5.0/5 "Blown Away!"
      Last three month back I purchase Aegon life through online channel. The plan benefits are good, I get the maturity benefits of Rs. 34 lakhs after 25 Years . In case of any loss, my nominees get the amount of Rs. 7.50 lakhs. I make monthly premium around Rs. 5000 monthly month its fine.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Trusted Insurance Company"
      0.5 4.0/5 "Great!"
      LIC is a good company, but they don't have proper customer service to give reminder call on the premium. Plan benefits are average than other company like Bharathi Axa, TATA Birla etc. I took Jeevan bheema plan it has the tenure of 10 years , it has the premium Rs. 5000 in a year, I get sum assured value around 5 lakhs.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      Life Insurance Corporation Of India is a Government handling policy for customers ,Everything is good with LIC nowadays the on line facilities are provided with this insurance recommended for customers to pay the money in on line itself so we no need to call the customer care were everything is done through the on line using our Mobile itself , I have been paying the policy money since from 2007 which is running successfully still now,Overall this insurance is good to use.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Good insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance policy from LIC. It is a cash back policy. I have taken this policy through agent. The representative explained about the benefits clearly. The policy coverage and plan benefits are satisfactory. I pay 4500 rupees quarterly through cash or net banking.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Excellent policy to use"
      0.5 5.0/5 "Blown Away!"
      I have got the Life insurance policy for my child and it was started from the month April. This policy has the tenure of 21years. I pay the premium amount of Rs,2700per month. The plan benefits and the policy coverage is better with this policy .
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Better Jeevan anand policy "
      0.5 5.0/5 "Blown Away!"
      Holding the Jeevan anand Life insurance policy for more than 2 years from the LIC. The customer support service is good with the LIC and they have better plan benefits and the payment options. I pay the premium amount through ECS which is easy and helpful.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2018
    • HDFC Life Life Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      Hdfc Life insurance service is good. I have taken it for the term period of 35 years and I have one policy with Hdfc Life. They use to update me with new schemes and offers through email. The documentation part has been smooth. It is a average service from Hdfc Life insurance service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 20, 2018
    • SBI Life Life Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I also have a Life insurance service from Sbi Life. The service is good with Sbi Life. The staffs are friendly in approach and the documents procedure was been smooth with Sbi. They use to intimate regarding new schemes and offers,it is a average service Sbi Life insurance service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have a Life insurance service from Lic, I have four policy's with Lic. The schemes and offers are good with Lic and they use to update me regularly regarding their new schemes and offers. The payments are generally through online,it is a average service from Lic.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Average service"
      0.5 3.5/5 "Pretty good"
      The service of Lic is good, I have taken three policy with Lic. It was been very long time I have taken the life insurance service from Lic. But I am disappointed that sometime there is no online payment option is available. I am also not interested about the new schemes and offers,it is totally a average service from Lic.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 20, 2018
    • ICICI Prudential Life Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have a term insurance from Icici,the service is good with Icici. I have taken two policy with Icici. They use top update me regularly with the new schemes and offers,I use to get intimations through sms and email. The payments are generally through online,it is a average service from Icici life insurance service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Good insurance"
      0.5 5.0/5 "Blown Away!"
      I took 2 to 3 life insurance policies from LIC. These policies are taken directly from the office. I have cash back and long term policy. I have never contacted the customer service but not faced any issues. The online portal was very easy to do the payments. I pay annually around 60 to 80K .
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Good insurance"
      0.5 5.0/5 "Blown Away!"
      I am using the LIC service and its very good. I am satisfied with the policy coverage and the plan benefits. I have several policies for the entire family. All are long term policies. I am paying the premium for annum sum around 80K to 1L. The payment was done quarterly through cheque as well as ECS.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Better"
      0.5 4.0/5 "Great!"
      Life Insurance Corporation is Good service for customers my LIC policy tenure period is till 20 years but I have already done with 5 years remaining 15 years is left with me to pay the insurance.The payments and the Amount given is affordable to pay, Since the service is rendered from the Government Of India this LIC policy is a Better one.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 19, 2018
    • LIC Life Insurance
      "Looters"
      0.5 0.5/5 "Unacceptable"
      LIC is just looting common indian people in the name of life insurance. With LIC you can't invest your money in your way. Worst ever customer service. Their staff will behave as if you borrowed something from them. Please avoid it as much as possible.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Feb 19, 2018
    • LIC Life Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the Life Insurance Corporation of India and the customer service is good one with them. I would like to say that the overage value is good one with the Life Insurance Corporation of India.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 17, 2018
    • SBI Life Life Insurance
      "Looking for better feature and service"
      0.5 3.0/5 "Satisfactory"
      Performance of people they wont helpful, they don't realize whom they are dealing with. If anything happens also no body is there to help me. SBI life is average, I have tenure of 15 years, premium monthly 1500. I will maturity benefits lump sum amount its nominal, tax benefits, life cover accidental cover
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2018
    • LIC Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken Life Insurance with LIC,the premium amount is 3800.i make direct payments at the branch.The policy coverage amount is one lakh, i feel its very less.The policy is for 15 years,I submitted documents via an agent.Plan name is Jeevan anand.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 16, 2018
    • LIC Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Life Insurance with LIC.The premium amount is 13800 in a year.The policy coverage is three lakhs,I make direct payments at the branch.I have no claim experience,its been nine years since i have taken this policy.The policy is for 15 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 16, 2018
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