Plan Details:

What are the modes available for premium payment?

-          Yearly, Half-yearly, Quarterly and Monthly (Only through direct debit and group billing)

What are the ‘premium payment mode’ rebates?

Annual mode – 3% of tabular premium

Half yearly mode – 1.5% of tabular premium

Quarterly Mode – No Rebate

Monthly mode (only through direct debit and group billing) – No Rebate

What are high sum assured rebates available?

No rebate is available on the tabular premium rates.

Benefits -

Maturity Benefits -  If the policy is in force for full sum assured, attached bonuses will be payable at maturity and four annual installments of Educational benefits @ 20%, 25%, 25%, and 30% of sum assured are payable at the end of each of the last four policy anniversaries respectively.

Death Benefits -  If the policy is in force for full sum assured at the time of death of the life assured (the parent), following benefits will be payable to the nominee, and in case nominee (child) is minor to the appointee:

1. A lump sum payment of sum assured along with all vested bonuses is payable immediately on the death of the assured.
2. Annual installment of family income benefits each of 10% of sum assured commencing from the policy anniversary following the death of the life assured and upto 18 years of assumed age nearer birthday of named child on the anniversary following the death of the life assured.
3. Four annual installment of educational benefits @ 20%, 25%, 25% and 30% of sum assured are payable at the end of each of the last four policy anniversaries respectively.

Tax Benefits -

Premiums paid under the policy are eligible for income tax benefits under section 80C of the income tax act 1961.

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The details of Sahara Swabhimaan plan are as follows:

• The minimum issue age of the policy is 18 years as on the last birthday.
• The maximum issue age of the policy is 60 years as on the last birthday.
• The premium paying term is same as the policy term.
• The minimum coverage age is 50 years as on the nearest birthday.
• The maximum coverage age is 70 years as on the nearest birthday.
• The available term of the policy is 10 to 42 years.
• The premium modes and the charges are yearly Mode – Rs.10000, Half Yearly Mode – Rs. 5000, Quarterly Mode – Rs. 2500, Monthly Mode – Rs. 1000. Short premiums are not accepted. If the premium is received in advance it will be kept in deposit without adjusted benefit.
• The sum assured under this policy is Sum Assured = 0.5 * Term * Annualized premium.
• The available fund options of the policy are Secured Fund, Balanced Fund, Smart Fund and Growth Fund.

The benefits of Sahara Swabhimaan are as follows:

Maturity benefit

On maturity of the policy Up to 1/3rd of the maturity amount can be commuted and received as lump sum.

Death benefit

On the death of the policy holder if the policy is in strength the due premiums will be paid. If the due premiums are not paid maximum of the sum assured will be paid and if the policy is less than 3 years the fund value will be paid.

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Sahara Life Insurance

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