New Delhi: Yugal Suraksha is an endowment assurance scheme from PLI, specially designed to provide the twin advantages of life insurance cover for husband and wife with the convenience of paying a single premium. In view of this, such a scheme is mainly available for central government employees and other specified professionals; this makes the policy very attractive to a large audience. With assured sums as low as ₹20,000 and as high as ₹50 lakh, and policy terms that vary from 5 to 20 years, Yugal Suraksha can be tailored to suit the different needs of financial planning.
Yugal Suraksha policy: Both wife, husband covered
The unique selling proposition of the Yugal Suraksha policy is that it gives complete insurance coverage for both spouses under a single plan. This means that each spouse is covered with life insurance and has the additional benefit of bonuses accrued. The policy is available to anyone between the ages of 21 and 45 years, thus making it available to a great number of couples. After three years from the inception of the policy, there are facilities for loans available to policyholders, or they can surrender the policy. However, if it is surrendered before the completion of five years, the policy will not accrue any bonus benefits. The policy provides for death benefits for the surviving spouse or named beneficiaries in case of the death of either spouse. It, therefore, ensures the retention of financial protection for the family even at the most trying times. The scheme incorporates a bonus element, which has its last declared bonus rate of ₹52 per ₹1,000 of sum assured per annum. This bonus adds up and enhances the financial value of the policy.
Tax benefits
Besides, Yugal Suraksha offers a number of tax benefits. That is, under Sections 80C and 10(10D) of the Income Tax Act, 1961, one will be allowed exemption with exemptions up to ₹46,800. This product provides not only financial protection to the family but also relief from tax.
Employees of state and central government employees, defence services, public sector undertakings, nationalized banks, and a whole host of institutions are entitled to the policy of Yugal Suraksha.
This policy can be purchased quite easily from any registered post office or even online through the website of India Post. In a nutshell, Yugal Suraksha offers a one-shot flexible insurance cover for a couple who wish to secure their financial future while enjoying life cover with bonuses paid on survival, without any tax.
The Yugal Suraksha Joint Life Assurance offers robust financial protection for both spouses with a single premium payment and flexible terms. Enjoy life cover, bonus benefits, and tax exemptions while securing your family’s future. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
