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  • Sahara India Life ULIP Plans

    Sahara Life Insurance

    Sahara Indian Life Insurance offers its customers a wide range of Unit Linked Insurance Plans (ULIPs) that are designed to provide life insurance coverage to the policyholder and his family with the added benefit of availing returns on investment based on market conditions.

    Sahara India Life Insurance offers three kinds of ULIP plans, which are tailor-made to suit specific customer needs and requirements. These plans are:

    • Sahara Utkarsh Jeevan Bima
    • Sahara Sugam Jeevan Bima
    • Sahara Sanchit Jeevan Bima

    1. Sahara Utkarsh Jeevan Bima

    The Sahara Utkarsh Jeevan Bima plan is a Unit Linked Insurance Plan in which the premium is paid only at the time of commencement of the plan. The plan is best suited for individuals who are looking to avail of market returns as well as life insurance cover.

    Features and Benefits of Sahara Utkarsh Jeevan Bima

    The Sahara Utkarsh Jeevan Bima plan has a wide range of features and benefits such as:

    • The minimum entry age is 12 years the maximum is 55 years
    • The maximum maturity age under this plan is 70 years
    • The minimum duration of the policy is 8 years and the maximum is 20 years
    • While there is no maximum limit on the premium amount, under the Regular Pay option the minimum premium amount is Rs 20,000 and under the Single Pay option the minimum premium amount is Rs 50,000
    • Premium can be paid either yearly or half-yearly
    • The policyholder can opt to pay the premium for the entire term of the plan under the Regular Pay Option or in the form of a lump sum at the start of the plan under the Single Pay Option
    • The policyholder can choose from five different types of funds such as:
      • Secured Fund
      • Balanced Fund
      • Smart Fund
      • Growth Fund
      • Prima Fund
    • The entire fund value is paid to the policyholder at the time of maturity
    • The policyholder is allowed two free switches between his funds every year
    • The policyholder can avail of Income Tax benefits on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

    2. Sahara Sugam Jeevan Bima

    The Sahara Sugam Jeevan Bima plan is a Unit Linked Insurance Plan with a Regular Pay option plan wherein the customer can avail of life insurance coverage as well as higher potential returns on the premium paid through investment in capital markets by the company.

    Features and benefits of Sahara Sugam Jeevan Bima

    The Sahara Sugam Jeevan Bima plan has a wide range of features and benefits such as:

    • The minimum entry age is 10 years the maximum is 55 years
    • The maximum maturity age under this plan is 70 years
    • The policy terms on offer are 10, 15 and 20 years
    • The premium paying term is equal to the policy term
    • Premium is paid on a yearly frequency
    • The policyholder can choose from five different types of funds such as:
      • Secured Fund
      • Balanced Fund
      • Smart Fund
      • Growth Fund
      • Prima Fund
    • The entire fund value is paid to the policyholder at the time of maturity
    • The policyholder is allowed two free switches between his funds every year
    • The policyholder can avail of Income Tax benefits on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.
    • The policyholder is allowed unlimited partial free withdrawals every year up to a minimum of Rs 2,500 and a maximum of 50% of the fund value

    3. Sahara Sanchit Jeevan Bima

    The Sahara Sanchit Jeevan Bima plan is a Unit Linked Insurance Plan with a one time pay option. Under this plan the premium that the policyholder pays is invested by the company in capital markets to yield higher returns. The plan also provides insurance coverage as part of the dual benefit.

    Features and Benefits of Sahara Sanchit Jeevan Bima

    The Sahara Sanchit Jeevan Bima plan has a wide range of features and benefits such as:

    • The minimum entry age is 18 years the maximum is 65 years
    • The maximum maturity age under this plan is 75 years
    • The policy terms range from a minimum of 5 years to a maximum of 10 years
    • The premium is paid in a single amount at the commencement of the plan
    • The minimum premium paid is Rs 30,000 with no maximum limit
    • Premium is paid on a yearly frequency
    • The policyholder can choose from five different types of funds such as:
      • Secured Fund
      • Balanced Fund
      • Smart Fund
      • Growth Fund
      • Prima Fund
    • The entire fund value is paid to the policyholder at the time of maturity
    • The policyholder is allowed two free switches between his funds every year
    • The policyholder can avail of Income Tax benefits on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.
    • The policyholder is allowed unlimited partial free withdrawals every year up to a minimum of Rs 2,500 and a maximum of 50% of the fund value, as long as the fund value on the date of withdrawal is not lower than Rs 30,000

    FAQs

    Q. Are there any additional riders available on these plans?

    A. No riders are available under the Sahara Sugam Jeevan Bima and Sahara Sanchit Jeevan Bima plans, while and Accident Benefit & Accidental Total & Permanent Disability Benefit rider is available under the Sahara Utkarsh Jeevan Bima plan with a minimum coverage of Rs.50,000 and maximum coverage equal to the Sum Assured or Rs 20 lakhs, whichever is lower.

    Q. What is the Free Look period for these plans?

    A. If a customer is dissatisfied with the terms and conditions of the policies, he or she can cancel and return the policies within 15 days of the start of the plans.

    Q. Is there an option to surrender the policy under these plans?

    A. The policyholder is allowed to surrender the policy only after five completed years

    Q. What are the grace periods allowed under these plans?

    A. Under the Sahara Utkarsh Jeevan Bima and Sahara Sugam Jeevan Bima plans the grace period allowed for payment of premium is 30 days. However no grace period is allowed under the Sahara Sanchit Jeevan Bima plan.

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