Sometimes it is desirable to provide life assurance cover to more than one person under one policy, for example, husband and wife may like to have Joint life insurance policy. Similarly, two partners in business may like to have a joint life insurance policy to cover the risk of capital loss in the event of death of one of the parties.

Keeping this in mind we have developed the Hamsafar Assurance Plan for the benefit of our prospective policyholders. The salient features of the plan are as follows:

1) LIVING BENEFITS:

If both the lives survive until the end of policy term, than the basic sum assured amount plus any attaching bonus will be payable to them jointly.

2) PROTECTION BENEFITS:

      a) Suppose, Allah Forbid, one of the lives die during the policy term, than           the following benefits are available:

(i)  The full basic sum insured will be payable to the       other life.

(ii)  Future premiums will cease. However, any       installments of premium outstanding for the policy       year in which the death occurred will be       deducted.

(iii) The policy will continue to participate in profits.

(iv) At the end of the policy term, the full basic sum       insured will be payable again, to the other life, with       any attaching bonuses.

      b) Suppose, Allah Forbid, both lives die during the policy term, then the           following benefits are available:

(i) On first death, the full basic sum insured will be      payable to the other life.

(ii) Future premiums will cease. However, any      installments of premium outstanding for the      policy year in which the death occurred will be      deducted.

(iii) The policy will continue to participate in profits.

(iv) On second death, the full basic sum insured will be       payable again, with any attaching bonuses. It will be       payable to the nominees. If there is no valid       nomination, it will be payable to the heirs of the       insured who died second.

(v) If, Allah Forbid, both lives die together, and it is not      clear who died first, than the basic sum insured will      be paid twice. The older life will be deemed to have      died first.

This plan can be enhanced with any of the following optional riders:
Accidental Death Benefit (ADB)
Accidental Indemnity Benefit (AIB)  

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