Sahara Kavach Term Insurance Plan

1. The minimum age of the individual at the time of entry should be 18 years, and the maximum age should not exceed 50 years.
2. The maximum age of the individual at the time of maturity should not exceed 65 years.
3. The minimum policy term is 15 years and the maximum is 20 years.
4. The minimum sum assured under the policy is Rs.5 lacs. There is no limit on the maximum sum assured but customers can make deposits in multiples of Rs.50,000.
5. The premiums can be paid either on a monthly / quarterly / semi-annual / annual basis.
6. The premium payment term will be the same as the policy term.
7. The policy cover remains the same throughout the duration of the policy.

Benefits of Sahara Kavach Term Insurance Plan

1. Death Benefit: In case of the unfortunate demise of the policyholder, the nominees will be eligible for a payout of the sum assured so that the dependents of the policyholder can continue leading a similar lifestyle and remain financially protected in the absence of the policyholder.

1. Tax Benefit: Individuals can claim tax benefits under Section 10(10D) and Section 80C of the Income Tax Act.

1. Grace Period: Post the due date, customers can make premium payments within 30 days if their premium payment modes are quarterly, semi-annual or annual, and within 15 days if their premium payment mode is monthly. The policy will lapse in case you fail to make the premium payments during the grace period, and your sahara term policy will be terminated.

1. Free look period: Customers who are not satisfied with the terms and conditions of their policies can opt to cancel them within the first 15 days of taking out the policy. Upon cancellation, the customer will receive the premiums they have paid up to that particular date less cost of medical reports and stamp duty.

Please note that the only exception for benefits is if the insured individual commits suicide during the first year after taking out the policy. In this case, the nominees will not receive any death benefit. 

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