Sahara Term Insurance

Another insurance plan Sahara Kavach from Sahara India Life is a pure life coverage policy and not for investing. It provides the security to the indemnified & his family in case of total/permanent disability and sudden death. This plan comes with affordable and low premium. This term insurance policy pays the assured sum to the nominee if the life insured meets an unfortunate event during policy term. A simple and comprehensive cover, the scheme is available for both employer-employee (EE) groups and non-employer-employee groups.

Sahara Samooh Suraksha Term Plan

Samooh Suraksha, offered by Sahara is a group insurance plan that offers cover for the insurance need of persons, who are unable to save enough for getting themselves covered through individual insurance plans. Through this group term insurance, adequate cover, say 7 times of annual income, is possible with an outlay of just about 3% to 5% of annual income.

Features and Benefits of Sahara Term Plan 

1. Sum assured is paid out as death benefit. 

1. Minimum sum assured of Rs.5 lakhs. 

1. Minimum benefit term of 15 years and maximum of 20 years. 

1. Flexible premium payment frequencies including monthly, quarterly, half-yearly and yearly. 

1. Income tax benefits as per the relevant sections of the Income Tax Act, 1961. 

Example of Sahara Term Plan:

Aged 25 years, Sam, a non-smoker, buys the Sahara Term Plan insurance with Rs 5 lakhs as sum assured for 20 years. When he is 30 years old, he will have to pay a premium of Rs 1,795. The premium will increase to Rs 2,425 when he turns 35. At 40 years of age, he will have to pay Rs 3,492 as premium once every month. In case of his death, the sum assured will be given to his nominee.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017