Quote Form

Our representative will call you within few minutes
Investment Plans 414 views August 13, 2021
Sahara Surakshit Pariwar Jeevan Bima is a non-linked, non-participating micro endowment life insurance plan for the socially weaker sections of society. This plan provides the benefit of savings and protection to the insured. The key features of the Sahara Surakshit Pariwar Jeevan Bima Plan are as follows:
Read this page further to know more about these and other benefits of the Sahara Surakshit Parivar Jeevan Bima Plan.
Table of Contents
You will get the following benefits under Sahara Surakshit Pariwar Jeevan Bima. Have a look at them below.
You’ll receive a Guaranteed Sum Assured and accrued annual additions on survival till the maturity date. The guaranteed annual additions for different age bands is as follows:
The guaranteed annual additions will be allocated at the end of each policy year, provided the policy is in force.
If the policy is in paid-up status, it shall not be eligible for future guaranteed annual additions. Whereas, if the policy lapses and premiums have been paid for more than one year but less than 2 years, 50% of paid premiums will be payable at the end of the policy term.
In case of death of the life sussed during the policy term, the insurer shall pay the following benefit.
For a Policy Term of 5 to 9 Years
The insurer pays the highest of the following to the nominee:
For a Policy Term of 10 Years
If the entry age is less than 45 years, the insurer pays the highest of the following to the nominee:
If the entry age is more than or equal to 45 years, the insurer pays the highest of the following to the nominee:
If the policy is in paid-up condition, the insurer shall pay the paid-up sum assured plus accrued guaranteed annual additions.
The paid-up sum assured is calculated based on the following formula –
[{Number of Paid Premium x Sum Assured}/Number of Premiums Payable Under the Contract]
If the policy is in paid-up status, it shall not be eligible for future guaranteed annual additions. Whereas, if the policy lapses and premiums have been paid for more than one year but less than 2 years, 50% of paid premiums will be payable at the end of the policy term.
You need to meet the following age criteria to buy Sahara Surakshit Pariwar Jeevan Bima Plan:
Sahara Surakshit Pariwar Jeevan Bima policy term options are as follows:
The premium paying term for Sahara Surakshit Pariwar Jeevan Bima is 5 years for a policy term of 5 to 9 years and 10 years for a policy term of 10 years. You can pay your premium monthly, and the minimum premium amount is as follows:
INR 30,000 is the fixed sum assured per life under the Sahara Surakshit Pariwar Jeevan Bima plan.
In case of death of the life assured due to suicide within twelve months from the date of inception of the policy, the insurer shall pay 80% of the paid premium to the nominee, provided the policy is in force. Whereas, in case of death due to suicide from the date of revival of the policy, the insurer will pay higher of 80% of the paid premiums or the surrender value to the nominee.
You can review the terms and conditions of the policy within 15 days of the free look period that starts from the date of receipt of the document. In case of any disagreement with the terms and conditions, return the policy stating the reasons for it. On cancellation, the insurer will refund the paid premiums after deduction of stamp duty charges and proportionate risk premium for the period on the cover.