Life Insurance 546 views December 21, 2020

Sahara India Life Insurance is the first wholly and purely Indian Life Insurance company without any foreign collaboration. It offers you a wide range of life insurance policies that will protect you and your family financially against future uncertainties. You have options for endowment, money back, unit-linked and group insurance. And as per your convenience, you can increase your cover by adding optional riders to your Sahara India Life Insurance policy. Read this page further and know the features and benefits of Sahara India Life Insurance policy.

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Sahara India Life Insurance Plans

Sahara Shrestha Nivesh-Jeevan Bima

A without profit single premium endowment plan for you and your family, Sahara Shrestha Nivesh -Jeevan Bima is apt for those customers with an unpredictable, seasonal or uneven income. And policyholders can direct their money to single-premium plans when they could earn bonuses during the policy term. The entry age for this Sahara India Life Insurance is from 9-60 years as per the nearer birthday. Under this life insurance, you and your family will get a maximum Sum Assured of INR 1 Crore.

Death Benefit:– The Sum Assured will be paid to your nominee immediately upon your death. And it will not be less than 125% of the single premium if the entry age is <45 years and 110% of the single premium if entry age is >= 45 years.

Maturity Benefit:– A Sum Assured will be payable upon the survival of the Life Assured till maturity.

Sahara Shubh Nivesh-Jeevan Bima

It is an endowment plan with added advantages like life cover till maturity and a single premium payment feature. Sahara Shubh Nivesh-Jeevan Bima is a wealth creation plan with more liquidity, savvy investment and life protection cover. The minimum entry age is 9 years as per your nearer birthday. And a maximum entry age of 60 years applies to this Sahara India Life Insurance Endowment plan.

Death Benefit:– The Sum Assured will be paid to your nominee immediately upon your death. And it will not be less than 125% of the single premium if the entry age is <45 years and 110% of the single premium if the entry age is >= 45 years.

Maturity Benefit:- Upon the survival of the Life Assured till maturity, a Sum Assured will be payable to the policyholder.

Sahara Dhan Sanchay Jeevan Bima

It’s a traditional participating endowment plan that helps you get a steady income and life cover. The minimum and maximum entry age for the policy is 14 and 50 years as per the policyholder’s nearer birthday. In this plan, you can pay premiums either yearly, half-yearly, quarterly or monthly.

Maturity Benefit:– The survival of the Life Assured till maturity makes the policyholder eligible for the full sum assured along with the vested bonuses. And this maturity benefit will be payable if the policy is in force and all due premiums are fully paid.

Death Benefit:– If you die during the policy term, provided the policy is in force and premiums fully paid till the date of death, this benefit is payable to the nominee.

Entry Age Less than 45 Years

Sum Assured on Death will be the higher of the following:-

  1. Minimum Guaranteed Sum Assured
  2. 10X Annualized Premium

Entry Age More than or Equal to 45 years

Sum Assured on Death will be the higher of the following:-

  1. Minimum Guaranteed Sum Assured
  2. 7X Annualized Premium

However, the death benefit shall not be less than 105% of all the paid premiums as of the date of death.

Sahara Pay Back Jeevan Bima

It is a non-linked, limited premium, money back endowment plan that provides life cover to the insured and his/her family along with guaranteed returns. The minimum and maximum issuance age for the policy is 16 and 50 years as per the policyholder’s nearer birthday. And you can pay premiums for this policy in yearly, half-yearly, quarterly or monthly mode. Under this Shara Pay Back Jeevan Bima Insurance, you will get a sum assured up to INR 1 Crore.

If you die during the policy term, a death benefit is payable to the nominee. Death Benefit is equal to the minimum Sum Assured or 10X/7X Annualized Premium, whichever is higher. However, the death benefit shall not be less than 105% of all the paid premiums as on the date of death. And this will be irrespective of the already paid survival benefit.

The survival benefit is paid to the Life Assured at different intervals as per the policy term. And if the Life Assured survives till the end of the policy term, a maturity benefit equal to 60% of the sum assured plus vested bonuses will be payable.

Sahara Dhanvriddhi Jeevan Bima

It’s a without-profit money back endowment plan that provides guaranteed returns with a life cover till maturity. The entry age for Sahara Dhanvriddhi Jeevan Bima is from 9-60 years as per the nearer birthday. Under this life insurance, you and your family get a maximum Sum Assured of INR 1 Crore.

When you die, the highest of the following with respect to your entry age will be given as a  death benefit.

Entry Age Less than 45 Years

  1. 125% of the single premium
  2. Guaranteed Amount at Maturity
  3. Sum Assured

Entry Age More than or Equal to 45 years

  1. 110% of the single premium
  2. Guaranteed Amount at Maturity
  3. Sum Assured

Note – The death benefit shall be irrespective of the already paid survival benefit.

Survival Benefit:– The survival benefit is paid to the Life Assured at different time interval such as:

9-Year Policy Term

  1. At the end of the 3rd year, 15% of the sum assured
  2. At the end of the 6th year, 15% of the sum assured

12 Year Policy Term

  1. At the end of the 3rd year, 15% of the sum assured
  2. At the end of the 6th year, 15% of the sum assured
  3. At the end of the 9th year, 15% of the sum assured

15 Year Policy Term

  1. At the end of the 3rd year, 15% of the sum assured
  2. At the end of the 6th year, 15% of the sum assured
  3. At the end of the 9th year, 15% of the sum assured
  4. At the end of the 12th year, 15% of the sum assured

If the Life Assured survives till the end of the policy term, the concerned individual will get back the single premium amount along with guaranteed additions.

Note– The single premium for maturity benefit excludes any extra premium and applicable taxes.

Sahara Dhanvarsha Jeevan Bima

Sahara India Life Assurance traditional limited premium money-back non-participating endowment plan that helps plan your future expenses. A lump sum amount will be available for you at specific intervals known as survival benefit, and in case of your unfortunate death, this plan protects your family against financial hardships. Sahara Dhanvarsha Jeevan Bima policy term is 15 and 20 years. You are eligible for this policy if you fall under the age group of 15-55 years (as per your nearer birthday).

The full Sum Assured will be payable to your nominee irrespective of the already paid survival benefit if you die during the policy term. And the survival benefit is paid to the Life Assured at different intervals as per the policy term. 30% of the sum assured will be payable to the Life assured upon survival till the maturity date.

Sahara Sanchit Jeevan Bima

Sahara Sanchit Jeevan Bima is a unit-linked single premium plan that invests your money in equity markets via which you can earn higher returns over the policy term. The entry age for this Sahara India Insurance ULIP is from 18-65 years. And the following are your investment options under this plan – Secured Fund, Balanced Fund, Smart Fund, Growth Fund and Prima Fund.

At maturity, the prevailing fund value as on the date of maturity will be payable. In the case of death of Life Assured death, death Benefit is payable. The death benefit is the sum assured reduced by partial withdrawals (within two years) or the policy Fund Value as on the date of death, whichever is higher.

Sahara Utkarsh Jeevan Bima

This is a ULIP plan with a unique blend of risk coverage and guaranteed returns. In this, you can choose your investment plan according to the required risk profile and investment horizon. The entry age for the Sahara Utkarsh Jeevan Bima policy is between 12-55 years and the policy term ranges from 8-20 years.

The prevailing fund value is payable on the maturity date if the life assured survives till maturity. Whereas in the case of death, a Death Benefit consisting of Sum Assured plus Fund Value as on the date of receiving the intimation of death, subject to a minimum of 105% of the total paid premiums, will be payable.

Sahara Sugam Jeevan Bima

Another Sahara India Life Insurance ULIP plan gives risk coverage and guaranteed returns. Customers aged between 10-55 years as per their nearer birthday can invest in the policy. Sahara Sugam Jeevan Bima policy term is 10, 15 or 20 years. And this will invest in Secured Fund, Balanced Fund, Smart Fund, Growth Fund and Prima Fund.

The policy fund value is payable on the maturity date if the life assured survives till maturity. And the Death Benefit is payable in case the life assured dies during the policy term. The Sum Assured on death will be the sum assured minus partial withdrawals or the policy fund value as on the date of death, whichever is higher.

Sahara Samooh Suraksha

An insurance cover to avail the benefit of market appreciation on the savings portion of the premium. The cost of group insurance is very minimal and all regular confirmed employees/group members who have completed one-year service/membership in the Company/Group aged between 18-64 years as per the nearest birthday can invest in this Sahara Samooh Suraksha scheme.

Sahara Accidental Death Benefit (ADB) Rider

When the Life Insured dies in an accident, this rider will come in force. The Accidental Death Benefit Sum Assured as specified in the schedule but not exceeding INR 20 Lakhs shall be paid to the beneficiary. The minimum entry age for the plan is 18 years, while the maximum remains 60 years (nearer birthday) or the maximum age as specified in the base plan, whichever is lower. The minimum sum assured remains INR 50,000, whereas the maximum will be the one specified for the base policy or INR 20,00,000, whichever is lower. The minimum and maximum policy term will follow that of the base plan, subject to a maximum age of 65 years at maturity.

Conditions Precedent to the Company’s Liability Under ADB Rider

  1. Inform about the claim in writing without delay within 90 days of its occurrence
  2. Documents and Information, including but not limited to: last medical certificate/report, original policy document with the rider document, all medical/ hospital records, certificate of hospital treatment, legalized copy of the death certificate.
  3. Identity Proof of the claimant like driving license, passport, Aadhaar card, voter ID card, etc.

Premium Payments for Sahara Life Insurance Plans

The premium can be paid at any of the intervals – Monthly, Quarterly, Half-yearly and Yearly. You can get premium rebates of 3% and 5% for yearly and half-yearly mode of payment.

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