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Sahara India Life Insurance |
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Sahara Nidhi
The Plan
For life´s many ups and downs, for children's education and marriages, providing for a family house, we bring you financial security against unfortunate death & living too long by creating an immediate asset, our endowment assurance policy ‘Sahara Nidhi’.
Plan Details
Minimum Issue Age 14 Years(Nearer birthday)
Maximum Issue Age 60 Years (Nearer birthday)
Minimum Sum Assured Rs.50,000/
Minimum Benefit Term 10 Years
Maximum Benefit Term 50 Years
Premium Paying Term Same as policy term
Maximum Coverage Age 70 Years
Grace period for non-forfeiture provisions
Grace period of 30 days irrespective of any calendar month will be allowed for payment of yearly, half yearly and quarterly premiums and 15 days in monthly mode of premiums. In case premium is not paid within the grace period and if death occurs within this period, the policy will be still valid and the sum assured shall be paid to the claimant after deduction of outstanding premiums falling due before the next policy anniversary.
Benefits
What are the benefits of the policy?
On maturity -
The Sum assured along with all vested bonuses are payable on maturity of the policy. If the policy has run for 15 years or more terminal bonus if any is also payable.
On unfortunate death -
The Sum assured along with all vested bonuses are payable on death of the life assured. If the policy has run for 15 years or more as on date of the death, terminal bonus if any is also payable.
Additional benefits - Rider
Accident Benefit & Accidental Total & Permanent Disability Benefit Rider - Additional premium payable only Re.1 per 1000 SA (AB & ATPD)
If the life assured meets with an accident before the policy anniversary on which his age nearer birthday is 65 years and policy is in force and death is caused within 180 days of any bodily injury sustained directly and solely from an accident caused by outward, violent and visible mean solely, directly and independently of all other causes of death, an additional amount equal to the rider cover is payable up to a maximum of Rs 20, 00,000/-and if the life assured is totally and permanently disabled, 10% of the rider sum assured is payable every year for five years, followed by the balance 50% of the rider cover at the end of five years. On admission of disability claim the premium for disability benefit shall cease. Once the claim for ATPD is settled and paid, the rider benefit is terminated and the base policy continues.
Total and Permanent Disability referred to hereinabove shall mean and include disability which arises out of accident as aforesaid and is of a nature which renders the life assured totally and permanently unable to earn any income from the date of accident onwards from any work, occupation or profession (independent of qualifications, training and experience) and results into his/her
(a) Inability to use both hands at or above the wrist or
(b) Both feet at or above the ankle or
(c) One hand at or above the wrist and one foot at or above the ankle or
(d) Total and irrecoverable loss of the entire eyesight of both eyes.
Tax Benefits
• Premiums paid under the policy are eligible for Income tax benefits under section 88 of the Income Tax Act, 1961.
• The maturity proceeds of the policy are not taxed as income of the policyholder or his dependents under section 10(10d) of the Income tax Act, 1961.
Sahara Sampann
The Plan
For life´s many ups and downs, for education and marriages of beloved children, providing for a family house, we bring you financial security against unfortunate death & living too long by creating an immediate asset- Our Money Back Policy Sahara Sampann.
Plan Details
Minimum Issue Age 14 Years (last birthday)
Maximum Issue Age 55(nearer birthday) years for 15-year term &50 nearer birthday) years for 20 year term
Minimum Sum Assured. Rs 50,000/-
Maximum Sum Assured. None, subject to underwriting
Policy Terms 15 ?&20 years
Premium Paying Term Same as policy term
Maximum Maturity Age 70 years
Benefits
What are the benefits of the policy?
On Survival -
Following percentage of the Basic Sum Assured is payable.
| Duration of the policy(yrs)after commencement |
15yr plan |
20yr plan |
| 4 |
20% |
20% |
| 8 |
20% |
20% |
| 12 |
30% |
- |
| 16 |
- |
20% |
| 20 |
- |
20% |
On maturity-
All vested bonus along with terminal bonus, if applicable, is payable.
On unfortunate death-
the following percentage of the Basic Sum Assured along with attached bonus and terminal bonus (Terminal bonus is payable if death of the policyholder occurs after 15 years of the commencement of the policy) and policy is in full force.
| Duration of the policy (yrs) after commencement |
15yr plan |
20yr plan |
| Up to 5 Years |
100% |
100% |
| Above 5 and up to 10 years |
150% |
150% |
| Above 10and up to 15 Years |
200% |
200 |
| Above 15 and up to 20 years |
N.A. |
250% |
Tax Benefits
• Premiums paid under the policy are eligible for Income tax benefits under section 88 of the Income Tax Act, 1961.
• The maturity proceeds of the policy are not taxed as income of the policyholder or his dependents under section 10(10d) of the Income Tax Act, 1961.
Sahara Amar Jeevan
The Plan
This plan allows you to retire honorably and to live a contented life in golden years of your life. You can plan for your retired life by saving in small amounts during your working life. These savings grow to create a substantial corpus to provide for a sizable regular income during your retired life. Use the power of compounding to take care of your worries for the future.
Plan Details
Minimum Issue Age 25 Years (Nearer birthday)
Maximum Issue Age 55 Years (Nearer birthday)
Minimum Sum Assured Rs. 50,000
Minimum Benefit Term 10 Years
Maximum Benefit Term 40 Years
Premium Paying Term Same as policy term
Maximum Coverage Age 65 Years
Minimum Age for start of pension 50 years
Benefits
What are the benefits of the policy?
• On maturity -
The Sum assured along with all vested bonuses is due on maturity of the policy. If the policy has run for 15 years or more terminal bonus if any is also due. This amount can be used in the following manner:-
- Up to 1/3rd of the maturity amount can be commuted and received as lump sum at the time of maturity of the policy.
- Balance amount has to be used to buy an immediate annuity (pension) from any life insurance company at the annuity rates prevailing at that time.
• On unfortunate death -
The Sum assured along with all vested bonuses are payable on death of the life assured. If the policy has run for 15 years or more as on date of the death, terminal bonus if any is also payable. The spouse of the life assured if she/he is 40 years nearer birthday or above has an option to purchase an immediate annuity from Sahara India Life Insurance Co. Ltd. or some other insurer at the annuity rates prevailing at that time. 1/3rd of death benefit amount may be commuted by spouse if so opted.
Tax Benefits
• Premiums paid under the policy are eligible for Income tax benefits under section 80ccc (i) of the Income Tax Act, 1961. however, the tax benefits will be as per prevailing provisions of Income Tax Act,1961.
• The commutation of maturity proceeds of the policy is not taxed as income of the policyholder or his dependents but the regular pension (annuity) receivable is taxable.
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