Progressive Premium Policy
Joint Life Endowment Assurance
Under this Plan, policies are issued on the lives of two persons and
simultaneously cover the risk on the lives of both for the sum assured. The sum
assured plus bonuses is payable either at the end of the specified term or at
earlier death of either of the assured persons.
Premiums are payable till the end of the specified term or till
death of either of the assured persons, if earlier.
Notes:
(1) Two separate Proposal Fonns are required to be filled in by each of the
persons applying for assurance under this plan.
(2)
(3)
Both the persons shall have to undergo the required medical examination etc.
separately.
The basic rates of premium given are based on the equal ages of the two persons.
If their ages differ, the equal ages will have to be determined as per the
Uniform Seniority Table, given below:
UNIFORM SENIORITY TABLE
When difference |
Deduct from |
between the ages |
the age |
of two lives is |
of the older life |
0 to 1 Year |
Nil |
2 to 3 Years |
1 Year |
4 to 6 Years |
2 Years |
7 to 9 Years |
3 Years |
10 to 13 Years |
4 Years |
14 to 17 Years |
5 Years |
18 to 24 Years |
6 Years |
25 to 33 Years |
7 Years |
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