Sahara India Life Insurance Online Premium Payment

• Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
• Claim up to Rs. 1,50,000 deduction under section 80C**
• Choose between annual and monthly premium payment options

Sahara India Life is one of the up and coming life insurance companies in India. The company was established in the year 2004 and has become one of the major players in the industry. The diverse range of plans offered by the company allows customers to choose a plan according to their specific needs. The company offers various endowment plans, annuity plans, money back plans, ULIPs, and microinsurance plans for individuals. In addition to this, it also has group plans to cater to corporate customers.

There are various flexible payment options available for customers to pay their premium dues. Customers can opt for the yearly, half-yearly, quarterly, or monthly premium payment option based on their convenience. For the monthly premium payment option, only direct debit and group billing options are available. The premium payment options offered by Sahara India Life help customers renew their policies through simple steps.

Electronic Clearing Service (ECS)

You may use the Electronic Clearing Service (ECS) to set up the auto payment facility for your life insurance cover. If you are not in favour of visiting the branch office to pay the premium in cash, ECS is the best possible solution available for you. In this way, you don’t have to worry about remembering the deadline of premium payment when it is due. The autopayment facility will debit the premium amount from your bank account and keep the policy active. The procedure for setting up this facility is as follows:

• You can download the ECS Mandate form available on the Sahara India Life website.
• The duly filled ECS Mandate form must be submitted to the company’s branch office.

• The proposal document for the policy must be attached while sending the ECS Mandate.
• Existing policyholders can also sign up for the ECS facility by following the procedure listed above.

Features of Sahara India Life ECS

Some of the key features of Sahara India Life’s ECS facility are listed as follows:

• This facility is available for all modes of premium payment (monthly, quarterly, etc.).
• The minimum premium amount required to avail this facility is Rs.500.
• The ECS facility is available for Sahara India Life customers who have bank accounts only in select locations.
• Some of the major centres where Sahara has operational ECS facility include Agra, Baroda, Bhopal, Bengaluru, Chennai, Ahmedabad, Chandigarh, Kolkata, Mumbai, New Delhi, Hyderabad, Ludhiana, Raipur, Indore, etc.

Cash or cheque

If you have not enrolled for the ECS facility, you must pay your premiums only by visiting the nearest branch office. When you visit the branch office, you may pay the premiums through cash or cheque. If you are using a cheque, make sure that you fill everything correctly before giving it to the company. In the case of cash payments, you can get a receipt for the payment amount immediately.

Conclusion

Considering the hassle of visiting the branch office, it is always better to sign up for the ECS facility if you are a policyholder of Sahara India Life. The list of branch offices can be taken from the company’s official website. If you have any doubts regarding premium payment, you may contact the company’s customer service department and get your doubts clarified.