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Sahara India Life Insurance

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Sahara India Life Insurance

Overview
Having commenced operations in 2004, the Sahara India Life Insurance Company is a part of the Sahara India Pariwar which is helmed by Shri. Subrato Roy, its Chairman. The company received the IRDAI license back in 2000 and focuses on offering simple insurance products to customers with good service and support. The company is the first fully-Indian owned private life insurance organization operating in the country.

Sahara Life Insurance Co. ltd. at a glance
  • Customised insurance plans under the categories- term plans, group insurance products, micro insurance solutions, money back plans, ULIPs and of course, Term plans
  • Flexible terms and conditions
  • Customer Centric approach
  • Fast claim settlement

Sahara India Life Insurance Co. Limited Pension Plans
There are several pension plans offered by Sahara India Life Insurance Co. Limited. These include the Sahara Sanjeevani plan which ensures regular annuities for those who have retired. This plan helps in planning one’s post retirement life without having to worry about financial security.

Documentation needed to apply for Sahara India Life Insurance
  • Age proof - (Any One)
    Driving License, Passport, Voter ID Card, Birth Certificate, etc
  • Identity proof – (Any One)
    Driving License, Passport, Voter ID card, PAN Card, Aadhar Card, or any document which proves citizenship
  • Income proof
  • Address proof – (Any One)
    Driving License, Passport and Utility Bill should clearly mention the permanent address
  • Income proof – (Any One)
    Salary Slip, Form 16, ITR
  • Recent passport size photograph

Sahara Life Insurance Money Back Insurance Plans
  • Sahara Life Insurance Pay Back Jeevan Bima: This plan is a traditional non- linked limited premium plan that gives money- back benefits in addition to life coverage. Anyone between the ages of 16 and 50 years can avail the benefits of this plan.
  • Sahara Life Insurance Dhanvriddhi Jeevan Bima: This plan is a non- linked single premium plan that also offers life coverage. Anyone between the ages of 9 and 60 years can avail the benefits of this plan by paying a single premium.
  • Sahara Life Insurance Dhanvarsha Jeevan Bima: This plan is a traditional limited premium, non- linked that gives money- back benefits in additional to financial security. Anyone between the ages 15 years and 55 years can avail the benefits of this plan.

1: Sahara Life Insurance Pay Back Jeevan Bima: This plan suits those who require lump sum funds at fixed intervals. It is a traditional limited premium money- back participating plan that also provides financial protection in case of untimely death of the policyholder. It gives the assurances of financial safety, guaranteed returns and predictable cash inflow.

Advantages and benefits:
  • Death benefit equal to higher of sum assured or 10 times the annualised premium when age at entry is 45 years or less or higher of sum assured or 7 times the annualised premium when age at entry is more than 45 years.
  • Survival benefits are payable in case the policyholder outlives the policy term:
    • For 12 years policy term, 10% of the sum assured at the end of 3rd year, 15% of the sum assured at the end of 6th year and 25% of the sum assured at the end of the 9th year.
    • For 16 years policy term, 10% of the sum assured at the end of 4th year, 15% of the sum assured at the end of 8th year and 25% of the sum assured at the end of the 12th year.
    • For 20 years policy term, 10% of the sum assured at the end of 5th year, 15% of the sum assured at the end of 10th year and 25% of the sum assured at the end of the 15th year.
Plan eligibility criteria Description
Minimum issue age 16 years
Maximum issue age 50 years
Minimum sum assured Rs. 75,000 and thereafter in multiples of Rs. 5000
Maximum sum assured Rs. 1 Crore (subject to underwriting)
Term of the policy Fixed policy terms of 12, 16 or 20 years
Premium payment term 12 years policy term: 5 years
16 years policy term: 5 or 10 years
20 years policy term: 5, 10 or 15 years
Maximum coverage age 70 years

https://www.saharalife.com/SaharaPayBackBroucher.pdf

2: Sahara Life Insurance Dhanvriddhi Jeevan Bima: This is a single premium money back endowment plan with the added benefit of life coverage. It provides regular cash inflow and return of premium upon maturity of the policy. This plan also offers liquidity and suits those who are not averse to taking risks, require life coverage and wish to accumulate funds.

Advantages and benefits:
  • In case entry age is less than 45 years, sum assured on death will be higher of 125% of single premium or guaranteed maturity amount. In case entry age is more than 45 years, sum assured on death will be higher of 110% os single premium or guaranteed maturity amount.
  • In case the policyholder outlives the policy, 2 installment of 15% of the sum assured for 9 year term, 3 installment for the 12 year term and 4 installment for the 15 year term are paid to the policyholder.
  • Return of Single premium along with guaranteed one- time addition is payable to the policyholder.
Plan eligibility criteria Description
Minimum entry age 9 years
Maximum issue age 60 years
Minimum sum assured Rs. 50,000
Maximum sum assured Rs. 1 Crore (subject to underwriting)
Term of the policy Fixed policy terms of 9, 12 or 15 years
Premium payment term Single premium
Maximum coverage age 70 years

https://www.saharalife.com/Sahara-Dhanvriddhi.pdf

3: Sahara Life Insurance Dhanvarsha Jeevan Bima: This is a single premium money- back plan offers the benefits of life coverage and regular cash inflow. In other words this plan offers the twin benefits of guaranteed money- back and life insurance cover. This allows the policyholder to plan for future lump sum fund requirements.

Advantages and benefits:
  • Rebate of 3% for yearly and 1.5% for half- yearly premium payments available.
  • In case of untimely death of the policyholder, full sum assured is payable.
  • Survival benefits are payable in case the policyholder outlives the policy term:
    • For 15 years policy term, 10% of the sum assured at the end of 3rd year, 15% of the sum assured at the end of 6th year, 20% at the end of the 9th year and 25% of the sum assured at the end of the 12th year.
    • For 20 years policy term, 10% of the sum assured at the end of 4th year, 15% of the sum assured at the end of 8th year, 20% at the end of the 12th year and 25% of the sum assured at the end of the 16th year.
Plan eligibility criteria Description
Minimum entry age 15 years
Maximum issue age 55 years
Minimum sum assured Rs. 75,000 and thereafter in multiples if Rs. 5000
Maximum sum assured None (subject to underwriting)
Term of the policy Fixed policy terms of 15 or 20 years
Premium payment term For 15 year term: 10 years
For 20 year term: 15 years
Maximum coverage age 70 years
Premium payment modes Yearly, half- yearly, quarterly and monthly

https://www.saharalife.com/dhanversha.pdf

4: Sahara Life Insurance Accidental Death Benefit Rider: This plan provides an additional financial security net in an uncertain future. This rider provides additional coverage, the benefits of which are paid to the insured’s family in case the insured’s death was caused by external, violent and accidental means.

Advantages and benefits:
  • High sum assured of upto Rs. 20,00,000
  • High maturity age of 65 years
Plan details Description
Minimum entry age 18 years
Maximum issue age 60 years
Minimum sum assured Rs. 50,000
Maximum sum assured Lower of basic policy’s sum assured or Rs. 20,00,000
Term of the policy As per the base policy
Premium payment term As per the base policy
Maximum coverage age 65 years

https://www.saharalife.com/riders.html