State Life Insurance Policy Jeevan Saathi Plan T-19: Comprehensive Overview

The Jeevan Saathi Plan (Table-19) offered by State Life Insurance Corporation is a unique joint life insurance policy designed specifically for married couples. This plan provides financial security for both partners simultaneously, ensuring peace of mind and protection for the family. Below is a detailed explanation of the features, benefits, eligibility criteria, and other important aspects of this policy.

Key Features of Jeevan Saathi Plan T-19

1. Joint Life Coverage
   The Jeevan Saathi Plan insures the lives of two individuals—typically a husband and wife—under one policy. This ensures that both partners are covered simultaneously.

2. Premium Payment Flexibility
   Premiums are payable until the end of the specified term or until the death of either insured partner, whichever occurs first.

3. Death Benefits
   • Upon the death of the first life (one partner), the sum insured is paid to the surviving partner.
   • After this, all future premiums under the policy are waived.
   • Despite premium waivers, insurance protection for the second life continues uninterrupted.
   • If the second life also passes away during the term, another sum insured along with bonuses is paid to beneficiaries, and the policy terminates.

4. Maturity Benefits
   • If both lives survive until maturity, they jointly receive one sum insured along with any attached bonuses.
   • In case only one partner survives till maturity, they will receive the sum insured plus bonuses—even if it was already paid once upon the death of their spouse.

5. Participation in Profits
   The policy participates in profits declared by State Life Insurance Corporation. Bonuses are added to enhance returns over time.

6. Supplementary Covers Available
   Additional riders or supplementary covers can be attached to increase coverage under this plan (e.g., accidental death benefit or disability riders).

Eligibility Criteria

• Minimum Entry Age: 20 years (equivalent age)
• Maximum Entry Age: 50 years (equivalent age)
• Maximum Maturity Age: 70 years

This wide range ensures that couples at various stages of life can avail themselves of this plan.

Who Should Consider This Plan?

The Jeevan Saathi Plan is ideal for:

1. Married couples seeking comprehensive joint life insurance coverage at an affordable premium rate.
2. Housewives who may not otherwise qualify for individual insurance policies but can enjoy coverage through this joint plan.