Are you married or planning to get married? After marriage, a lot of changes come. Before marriage, you live for yourself but after marriage, many lives get attached to your life. Husband, wife, son, daughter; for whom you have to live.
But, if something, unexpected happens with you, are you ready with any provisions for your life partner? Or, tomorrow, in your absence, have you ever thought of the economic situation of your offspring?
Surely, you might not have thought of it. Many of us have not thought about these subjects. Actually, no one wants to think about his death. But, it is the absolute reality. After birth, death is certain. But, when? Where? In what situation? It is quite uncertain. There-estimation of such probable accidents and making provisions for them is an attribute of wise men.
If you love your life partner, then you should have a financial security today, so that, in your absence, your life partner can easily live life. The right choice for this choice is insurance. There are various types of insurance plan available in insurance market. But, some insurance companies have come up with various the plans in market, covering both husband and wife in single policy.
Couple insurance plan is a new type of insurance plan in the scope of the insurance business. Insuring both husband and wife under joint name in single policy is its specialty. With this, a sound relation can be established among the family members too.
Under this policy, if before the maturity of insurance policy, either husband or wife dies, the living insured (living husband or wife) will get the policy amount. But, the nominee need not pay the premium, thereafter. Even though, the policy runs till maturity. After the end of insurance term or on maturity, nominee is entitled to receive policy amount and aggregate bonus in total.
With this insurance policy, by adding some more amounts, the insured can get some more benefits of double accident benefits, disability benefit or discount in premium.
Conditions for payment
This policy has been introduced by the company, understanding the educated and earning couple hood. Under this policy, in following situations, payment can be effected thoroughly.
Prior to maturity, of the policy, if either husband or wife dies, the living insured (either husband or wife) shall be entitled for the policy amount. But, the policy continues till maturity. The living insured needn’t pay the premium after that. After maturity, the policy amount and bonus from the beginning of the contract is provided to the living insured.
Similarly, prior to the maturity, if both husband and wife die, the policy amount is payable to the person designated by the couple. If no one has been designated, the amount is payable to any of their nearest relative as per section 38 of Insurance act, 2049.
In the situation where, accidental benefit facility has been undertaken , if both couple die within 180 days of the accident , a sum , twice the policy amount of accidental benefit facility is payable to the designated person or as per section 38 of Insurance act,2049 to the nearest relative. Due to accident, if any one of the couple dies, the living insured will be entitled for the additional amount equal to the accident benefit sum assured. After getting the accident benefit payment, the accident of the living husband /wife, further, doesn’t attract this benefit again.
National Insurance Cooperation
National Insurance Cooperation has come up with “Jeevan saathi” insurance policy. Under this policy also, both husband and wife can be insured. Under this policy, in case of death of one of the insured, a sum of death claim equal to the policy amount is given. But after death, premium needn’t be paid as well as insurance policy remains undisturbed. After the death of living insured or on maturity, if the insured individual remains alive, the entire policy amount with bonus is paid in aggregate.
After 2 years of the commencement of insurance policy, the insured can surrender all saving or take loan optionally. The insurance can be done to maintain the period of 15 years, the age of insured being not exceeding 65 years in that period. To enter in the insurance policy, the age of insured should be minimum 18 years to the maximum of 50 years and at least 15 years to the maximum of 30 years insurance term can be maintained.
Nepal Life Insurance
Nepal life Insurance has come up with “Jeevan Saathi “life insurance plan. The couple with the minimum age of 18 years to the maximum of 50 years can get this policy. The term of this type of policy is from 15-30 years. This insurance can be done on the basis of minimum 50 thousand to the maximum of insured party’s income.
National Life Insurance
National Life Insurance Company has come up with “Dampati Amrit Saavadhik” plan. Under this plan, husband and wife’s life can be insured. Couple with age limit from 18-60 years can have this policy. This insurance plan can be taken to a minimum of 5 years to 30 years term period. The policy amount can be 50 thousand rupees in minimum and can be extended to the maximum of insured party’s income basis. The age difference between husband and wife should not exceed 20 years, however.
Asian Life Insurance
Asian Life Insurance Company has come up with “Dampati Surakshya (Joint Term) life insurance plan. With this plan, couple can get insured. The couple with the age limit of 18-50 years can get this policy. This policy can be taken for a term of 15-25 years. The policy amount can be taken in the minimum of 50 thpousand rupees to a maximum of sum, determined on the basis of insured’s earning.