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  • Sahara Term Insurance

    Sahara Term Plan

    The insurance offered by Sahara is a term plan that means high sum assured is offered for low premiums. Ideal in order to protect the policyholder’s family, Sahara Term plan offers a comprehensive cover, to financially secure the future of the dependents of the life insured, in case of unfortunate events.

    Types of Sahara Term Insurance Plans:

    There are two plans under the Sahara Term Plan:

    1. Sahara Kavach Term Plan
    2. Sahara Samooh Suraksha Term Plan
    Sahara Kavach Term Plan

    Another insurance plan Sahara Kavach term insurance plan 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.

    Particulars

    Minimum

    Maximum

    Sum Assured (in Rs.)

    5,00,000 and then in multiples of 50,000

    No Limit

    Policy Term (in years)

    15

    20

    Premium Payment Term (in years)

    Equal to policy term

    Equal to policy term

    Entry Age of Policyholder

    18

    50

    Age at Maturity

    -

    65

    Single premium (in Rs.)

    NA

    NA

    Payment modes

    Yearly, Half-Yearly, Quarterly and Monthly

    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.

    Particulars

    Minimum

    Maximum

    Sum Assured (in Rs.)

    10,000

    500,000

    Policy Term (in years)

    1

    20

    Premium Payment Term (in years)

    Equal to policy term

    Equal to policy term

    Entry Age of Policyholder

    18

    -

    Age at Maturity

    -

    65

    Number of members

    10

    15

    Payment modes

    Yearly, Half-Yearly, Quarterly and Monthly

    Features and Benefits of Sahara Term Plan:

    • Simple and comprehensive life cover.

    • Sum assured is paid out as death benefit.

    • Minimum sum assured of Rs.5 lakhs.

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

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

    • 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.

    Sahara Term Plan FAQs:

    1. Q. How to pay a premium? What are the modes of payment available?

    A. The Sahara Life insurance company Ltd. offers different modes of premium payment namely:

    • Cash/ Cheque payment at the branch

    • ECS (At certain locations)

    2. Q. What is the maximum number of members that can be added to Sahara Samooh Plan?

    A. The number of member depends on the age of the person insured. A total of 50 members can be added to the insurance plan.

    3. Q. What happens if the policyholder stops paying the premium?

    A. If the policyholder stops paying the premium, then the policy lapses and all benefits stop. You can however re-instate the policy within 5 years of lapsation by fulfilling the necessary requirements.

    4. Q. Does Sahara Term Plan have death benefit?

    A. Yes the Sahara Kavach term insurance comes with death benefit, where in case of death of the policyholder, the nominee gets the sum assured under the plan.

    5. Q. What is the duration of renewal of lapsed policies?

    A. In order to revive lapse policies, the policyholder gets 5 years for renewal.

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