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  • Sahara Utkarsh Jeevan Bima Plan

    Sahara Life Insurance

    The Sahara Utkarsh Jeevan Bima, is a ULIP that you can take for a term, ranging from 8 to 20 years. This policy will have sum assured of 110% to 125% of the premiums paid by you. You can choose to make your premium payments, either in a single premium payment or in regular payment throughout the life of the policy.

    Key Features of Utkarsh Jeevan Bima Plan:

    1. This Sahara Life plan provides you with the option to make premium payments in either a lump sum or regular payments throughout the life of the policy.
    2. You have the option to customize your plan to suit your protection needs. You can add a rider that is available under this policy for extra protection. However, this rider can be added to the policy only if you decide to opt for the regular premium payments.
    3. As the policyholder you will have the ability to choose between 5 different fund options:
      1. Secured Fund
      2. Balanced Fund
      3. Growth Fund
      4. Smart Fund
      5. Prima Fund
    4. If you have not opted for the single premium payment, then the payments can be made either yearly or half yearly.
    5. The sum assured
      1. Single payment - if the policyholder is equal to or less than 45 years, then the minimum sum assured should be 125% of the premium, If the policyholder is aged 45 years or more, the sum assured should be at least 110% of the single premium.
      2. Regular payment - a minimum of 10 times the annual premium if the policyholder is equal to or less than 45 years. The premium should b 7 times the annual premium, if the policyholder is aged 45 years or more.
      3. There is no maximum limit for the sum assured.
    6. The policy term will range from a minimum of 8 years to a maximum of 20 years.

    Benefits of Utkarsh Jeevan Bima Plan:

    1. Maturity Benefit - the policyholder will receive the fund value, when the policy reaches its maturity. After this fund value is paid to the policyholder, the policy will be terminated.
    2. Death Benefit - If the policyholder dies during the term of the policy, his/her nominee will receive a higher of, either the sum assured minus any withdrawals made by him, or the fund value or 105% of all premiums paid.
    3. Tax Benefit - The policy also provides you with tax benefits as per the Income Tax Act under section 80C for the premiums paid and section 10 (10D) for any claims made.
    4. You can add a rider called the Accident Benefit & Accidental Total & Permanent Disability Benefit Rider for additional protection to your policy.
    5. Grace Period - The policy will offer you a grace period of 30 days under this plan, to make the premium payments.
    6. Free-Look Period - You will be given a free-look period with this policy for a period of 15 days, wherein if you are not pleased with any of the terms and conditions, you can cancel the policy, provided there are no claims made.
    7. Withdrawal Facility - You will allowed to make partials withdrawals every year, wherein the minimum amount must be Rs.2,500 and the maximum can be 50% of the fund value at the time of withdrawal.
    8. Switch Funds - You can also switch your investments from one fund to another with this policy. The switching of funds is allowed twice in a policy year.

    What are the Eligibility Conditions for This Policy?

    1. The minimum entry age requirement of the policy is 12 years, while the maximum entry age is 55 years.
    2. The maturity age will be a maximum of 70 years.
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