The Sahara Swabhimaan is a unit linked pension plan. This insurance plan is a blend of risk coverage along with market linked returns to meet the requirements of previous age. This plan enhances the value of the savings over a particular time period. This plan offers a choice to the customers to make a choice of the investment plan according to the risk profile and investment prospect at different points during the term of the policy.
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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