Compare Sahara India Life Insurance Plans

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Sahara India Life Insurance Company

Sahara India Life Insurance Company Ltd (SILC) is the first Indian company which is a completely owned life insurance company in the private sector. The company serves people in all parts of India. Its customer base is widespread from the privileged and urban folks to the people in the rural sector. The company has a pan Indian authority. Commenced in 2004, the company started its business with a capital of Rs 157 cr.

Currently, Munich RE Insurance and Gen Re are the reinsurance partners of the firm. The organization is a part of Sahara India Parivar, the topmost business house in the country. Sahara deals in various diverse businesses such as retail, finance, housing, etc.

Key Advantages of choosing Sahara

Sahara India Life Insurance has made its presence felt in most parts of the country in today’s date. The question is why you should choose Life Insurance.

For starters, the company has a team of committed and highly efficient and trained professionals. Not only do they focus on the urban areas, but also on the rural sector where there is less economic progress.

The company has a wide range of products to offer which caters to the needs of people belonging to different economic sections and age societies. The customer care and support centre of the company is highly skilled and proficient.

The software experts of Life Insurance are capable of handling the high level VIP software as well as product development and pricing software. Watson Wyatt Consulting Private Limited, a leading name in the consulting industry, is responsible for the product management.

Their Varied list of products

Life Insurance offers various kinds of plans:

1. Life Insurance Endowment Plans
Dhan Sanchay Jeevan Bima
Shrestha Nivesh-Jeevan Bima
Shubh Nivesh-Jeevan Bima

2. Life Insurance Money Back Plans
Dhanvarsha
Pay Back
Dhanvriddhi

3. Life Insurance Unit Linked Plans
Utkarsh - Jeevan Bima
Sanchit - Jeevan Bima
Sugam Jeevan Bima

4. Life Insurance Group Plans
Jamakarta Samooh Bima
Samooh Suraksha Plan

Product Details

1. Life Insurance Endowment Plans
These are the plans which are aimed at endowing customers with the opportunity of using life insurance as a future investment. Some of the plans falling under this category are:

  • Dhan Sanchay Jeevan Bima � A traditional endowment plan, this plan provides policyholders with both protection and income. It gives them a dual advantage. Along with a life insurance cover, it provides policyholders with regular income which can be useful in their time of need.
  • Shrestha Nivesh-Jeevan Bima � For people who have an uncertain income, this is the appropriate endowment plan. It is a single premium plan. By just making a single payment as premium, you can secure yours and your family’s future.
  • Shubh Nivesh-Jeevan Bima � This plan is a single premium plan. The minimum sum insured has to be Rs 50,000. The maximum amount can be as much as the customer wants. If you are planning on saving for education in the near future or buying a new home in the near future, this is the plan for you.
Plan Basic Sum Assured Policy Term
Shrestha Nivesh Min � Rs. 30,000 Max � Rs. 1 Crore 5 to 10 years
Shubh Nivesh Min � Rs. 50,000 Max � No limit 10 years (fixed)
Dhan Sanchay Min � Rs. 50,000 Max � No limit Min � 15 years Max � 40 years

2. Life Insurance Money Back Plans

  • Dhanvarsha � Proving dual advantage of guaranteed money-back at pre-decided intervals and protection in case of unforeseen circumstances, this plan is one of the safest endowment plans. It is a traditional premium plan which is non-participating.
  • Pay Back �This plan helps you manage your expenses in such a way that you have a sufficient lump sum amount in case of emergencies and you can also protect your family in case of financial crisis. It is a premium, non-linked, participating money-back plan.
  • Dhanvriddhi �Another single premium endowment plan. For this plan, you need to make a one-time premium payment and it provides you with life cover until maturity. It also provides financial protection in case of unpredictable events.
Plan Basic Sum Assured Policy Term
Pay Back Min � Rs. 75,000 Max � Rs. 1 Crore Fixed for 12 years, 16 years and 20 years
Dhanvriddhi Min � Rs. 50,000 Max � Rs. 1 crore 9 years / 12 years / 15
Dhanvarsha Min � Rs. 75,000 Max � No limit; Fixed for 15 years and 20 years

3. Life Insurance Unit Linked Plans
This is a unit linked plan (ULIP) is a plan which takes a certain portion of your premium as life cover and the remaining amount is invested in the stock markets. The following are the ULIP plans offered by Life Insurance:

  • Sahara Utkarsh - Jeevan Bima: This is another unit-linked plan where the policyholder has the option of paying the premium either as a single premium or throughout the term of the policy. The policy can be taken for a period of 8 -20 years. The sum insured is 110% to 125% of the premium paid.
  • Sahara sanchit - Jeevan Bima: It is a unit linked, single premium plan. This plan provides an excellent opportunity to increase your wealth along with risk coverage. He sum assured lies in the range of 110% to 125% of the premium paid. The policy can be taken for 5 or 10 years.
  • Sahara Sugam Jeevan Bima: Another recommended ULIP plan where the basic sum assured is 10 times the annualised premium.
Plan Basic Sum Insured Policy Term
Sanchit Up to 45 years � 125% of single premium
46 years & above � 110% of single premium
5 to 10 years
Utkarsh Capped at 45 years � 10 Xs the annualized or regular premium or 125% of one single premium
From 46 years onwards - 7 Xs the annualized or regular premium or 110% of a single premium
8 to 20 years
Sugam 10 times of Annualized Premium 10, 15 or 20 years

4. Life Insurance Group Plans
As the name suggests, group plans target groups of customers or organizations that want to offer insurance to the employees working for them. There are several group plans offered by Sahara. The following are a few of them:

  • Jamakarta Samooh Bima: For those who cannot afford an individual life insurance, this is the appropriate group plan. In case the policyholder passes away, the plan offers term insurance benefits to the other group members which are payable to the nominee of the deceased.
  • Samooh Suraksha: Any organization or company or simply even a group of people who wish to reap the benefits of group insurance can choose this plan. The minimum amount to be paid as premium is Rs 50,000 for each individual of the group. The maximum amount to be paid as premium is Rs 5,00,000 for each individual of the group.
Plan Basic Sum Assured (per member) Policy Term
Samooh Suraksha Min � Rs. 50,000; Max � Rs. 5,00,000 -
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