Policyholder at inception of this policy may choose to cover his/her spouse under the same policy by paying an additional premium. The spouse is referred to as the “Second Life” and the policyholder is referred to as the “First Life” for the purpose of this benefit.
Only the Death Benefit is offered to the Second Life and the Sum Assured on Death of Second Life shall be payable in lumpsum only. To avail this benefit, the Basic Sum Assured with respect to the First Life should be equal to or greater than Rs. 50 Lakhs. The coverage to the Second Life shall be up to 100% of the Basic Sum Assured of the First Life, subject to Our Board approved underwriting guidelines. The Second Life issuance will be subject to underwriting as per underwriting guidelines. If the Second Life is a housewife or a non-earning female, the coverage for the Second Life will be restricted to up to 50% of the Basic Sum Assured chosen by the First Life, subject to maximum of Rs. 50 Lakhs. Please refer to the Sales Brochure for further details.