This is an Endowment Assurance Plan issued on the lives of husband and wife. The plan provides financial protection against death of both the lives. It pays the maturity amount on survival of one or both the lives to the end of the policy term.
Future premiums are waived and survivor gets Sum Assured immediately on the death of Husband/wife.
He/She gets Sum Assured again with full bonus, if the survivor (husband/wife) survives till maturity.
Sum Assured plus Bonus is paid till that time to the nominee, if the survivor also dies before maturity.
Sum assured plus Bonus are given, if husband and wife are alive up to maturity period.