In layman’s terms, couple protection policy is a joint life insurance policy. A life insurance policy issued by a joint endowment life insurance company. This policy provides that one of the spouses is eligible for insurance coverage after death. This will pay the cost of helping both couples. The amount covered will be the total amount of the promised bonus plus any bonuses accrued.
The single premium shall be present in the amount of twenty thousand rupees which is assured to be paid as a minimum. As per the terms and conditions of the policy, the maximum amount it can give is fifty lakh rupees (fifty lakh rupees).
couple protection plan
This article gives complete details about Couple Suraksha Yojana, features and benefits of new Post Office Insurance Scheme 2021, step by step guide to apply online for Couple Suraksha Yojana at the official portal.
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Couple Suraksha Plan Features and Benefits
Let us see the features and benefits of couple protection plan, as shown below.
- It will provide life insurance to both the husband and wife. The amount will be within a single premium. This amount will include Sum Assured and Bonus accrued.
- There are certain limits to the amount it will provide. The minimum sum assured is twenty thousand rupees. The maximum sum insured is fifty lakh rupees. This is done as per the Terms and Policy.
- The minimum and maximum entry of the spouse should be between 21-45 (twenty one to forty five years) years.
- The maximum age of the elderly policyholder should not exceed 45 years (forty five years). Also, the couple’s term should be within 21-45 years (twenty one to forty-five years).
- The minimum policy term of Couple Suraksha Plan is five years (five years). The maximum policy term of Couple Suraksha Plan is 20 years. (twenty years)
- After three years (three years) the loan facility under Couple Suraksha Yojana policy will be activated.
- You can surrender after three years (3 years).
- If you have surrendered before completing five years (5 years) then you will not be eligible for the bonus case.
- The bonus will be in proportion to the reduced amount and will be paid even if the policy is surrendered as per the terms and conditions of the Couple Suraksha plan.
- There are unique death benefits that will be paid either to the survivors in the death of a spouse or to the main person holding the policy.
- A unique final declared bonus is calculated as Rs.58/- for Sum Assured for 1000/- per annum.
How to Apply Online for New Post Office Insurance Scheme
- Click here To directly redirect to the official web page.
- You will be directly taken to the policy buying page.
- Enter mobile number, date of birth, gender, product type, either PLI or RPLI.
- After entering all the details, it will cover the assistance of both the spouses. Enter the captcha and click on Get Quote or Locate Agent.
- Choose the option as per your convenience.
- Click on the required option.
- Remember couple protection plan comes under PLI, so choose accordingly.
- This is the process to apply online for Couple Suraksha Yojana.
All Interested Applicants Can Visit Here official portal Postal Life Insurance.
Frequently Asked Questions on Couple Suraksha Yojana 2021
What is Couple Protection Plan Policy?
Couple protection policy, in simple words, is joint life insurance. This is joint endowment life insurance. As per this policy, one of the spouses is eligible for the post-life insurance policy. Assistance to both spouses will be covered. The amount covered will be equal to the sum assured and the bonus earned.
What is the minimum and maximum sum assured under post life insurance policies?
Under post life insurance policies, there are several policies discussed above. From that policies, the minimum and maximum sum assured limit is Rs.20,000/- and Rs.50 lakh/-. This applies to all policies except the children policy.
What is the maximum Sum Assured under Post Life Insurance’s Children Policy?
The maximum assured limit is three lakhs/- under the post-life children’s policy.
Where can I submit a claim on the policy in case of an incident?
You can submit their claim application along with the required documents at the post office nearest to your home. You can also receive the payment through the post office of your choice after acceptance by the attending authority.