Sahara Utkarsh Jeevan Bima Plan

Benefits of Utkarsh Jeevan Bima Plan:

• 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.
• 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.
• 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.
• You can add a rider called the Accident Benefit & Accidental Total & Permanent Disability Benefit Rider for additional protection to your policy.
• Grace Period - The policy will offer you a grace period of 30 days under this plan, to make the premium payments.
• 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.
• 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.
• 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?

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

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