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Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
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Claim up to Rs. 1,50,000 deduction under section 80C**
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Choose between annual and monthly premium payment options
Sahara India Life Insurance is one of the renowned brands in the Indian private life insurance industry. Similar to other top insurers in the market, Sahara has life insurance policies in different categories. Customers can have their pick based on their specific investment requirements. If you are looking for a life insurance cover, you may check out the list of policies offered by Sahara before making a final decision. In addition to individual policies, the company also offers group policies for its customers. Let’s take a look at different aspects of Sahara India Life Insurance and the different policies in its lineup.
Highlights of Sahara Life Insurance
Updated on 01 Oct 2023
| Percentage of Grievances Solved |
87.06% |
| Claim Settlement Ratio |
82.74% |
| Group Death Claims |
87.50% |
| Solvency Ratio |
9.02 |
Sahara Life Insurance Plans
The insurance products offered by Sahara Life Insurance are listed in the table below:
| Term Plans |
ULIPs |
Endowment Plans |
Pension/Retirement Plans |
Money Back Plans |
Group Plans |
Riders |
| Sahara Kavach Term Plan |
Sahara Sanchit-Jeevan Bima |
Sahara Shrestha Nivesh Jeevan Bima |
Sahara Amar Jeevan Plan |
Sahara Pay Back Jeevan Bima |
Sahara Samooh Suraksha |
Sahara Accidental Death Benefit Rider |
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Sahara Utkarsh-Jeevan Bima |
Sahara Shubh Nivesh Jeevan Bima |
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Sahara Dhanvriddhi Jeevan Bima |
Sahara Jan Kalyan Social Security Scheme |
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Sahara Sugam Jeevan Bima
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Sahara Dhan Sanchay Jeevan Bima |
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Sahara Dhanvarsha Jeevan Bima |
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Sahara Ankur |
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Why should you go for Sahara Life Insurance Company Ltd.?
Sahara Life Insurance is the first completely Indian-owned life insurance provider in the private sector. The aim of the organisation is to provide affordable life insurance solutions to all sections of the society. As a part of this vision, the company has been laying a lot of focus on rural penetration of insurance.
The products offered by the insurer are targeted at covering various age and income profiles of the customer base.
The claim settlement ratio of Sahara Life Insurance for 2017-18, at 83%, is pretty decent for an up and coming private life insurer. The company has also received several awards in the past for its marketing initiatives and customer service.
Different types of policies provided by Sahara India Life Insurance Company Ltd.
The life insurance products offered by Sahara Life Insurance are the following:
This is the most basic form of life insurance offered to a customer. In term insurance plans, insurance protection is offered for a specific duration, usually between 30 and 75 years of age. During the policy term, the life assured pays regular premiums towards the policy at fixed intervals. If the life assured succumbs to death during the policy tenure, the insurer pays the death benefit to the nominee.
The term insurance plan offered by Sahara Life Insurance is:
| Plan name |
Key features |
| Sahara Kavach Term Plan |
This is a pure term insurance product that has no maturity or surrender value. Rebates are offered on semi-annual and annual mode of premium payments. The plan is useful for an individual who has a family.
Salient features of the plan include:
- The minimum sum assured under the plan is Rs.5 lakh.
- Premiums paid towards the plan are eligible for tax benefits under Section 80C of the Income Tax Act.
- The insurer offers a premium rebate of 1.5% for semi-annual premium payments. The rebate for annual premium payment is 3%.
- The plan cannot be enhanced through the use of riders.
- If the policy moves into lapsed status, the policyholder receives a time period of 5 years to revive it.
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A Unit Linked Insurance Plan offers the customer both life insurance coverage and market-linked investment benefits under a single product. ULIPs can also be surrendered or partially withdrawn.
The Unit Linked Insurance Plans offered by Sahara Life Insurance are:
| Plan name |
Key features |
| Sahara Sanchit-Jeevan Bima |
- This plan is available to the customer with a single premium payment option.
- The policyholder can choose to invest in 5 different funds, i.e., Secured fund, Smart fund, Prima fund, Growth fund, or Balanced fund.
- The policy can be enhanced with the add-on, Accident Benefit & Accidental Total and Permanent Disability Benefit rider.
- The policy term can be chosen by the policyholder, and it can vary from 5 to 10 years.
- The minimum premium under the plan is Rs.30,000 and there is no limit on the maximum premium.
- If the policyholder is aged 45 years or less, the sum assured under the plan will be 125% of the single premium.
- If the policyholder is above the age of 45 years, the sum assured under the plan will be 110% of the single premium.
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| Sahara Utkarsh-Jeevan Bima |
- The plan is a blend of market linked returns and life insurance coverage.
- The plan can be taken for a term between 8 and 20 years.
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The fund options available under the plan are as follows:
- Secured fund
- Balanced fund
- Growth fund
- Smart fund
- Prima fund
- If the single premium option is chosen, any one fund can be selected at the inception of the policy. The premiums are invested in this fund.
- If the regular premium option is chosen, the initial premium is invested in any of the 5 funds, as per the policyholder’s choice. All subsequent premiums will be directed to the existing funds at that time. At any one point of time, the policyholder can be invested only in one fund.
- Fund switching is allowed under the plan. The first two switches are free of cost. Subsequent switches are charged at a nominal rate.
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| Sahara Sugam Jeevan Bima |
- The customer has the choice of opting for a policy term of 10 years, 15 years, or 20 years.
- The minimum premium under the plan is Rs.12,000. Once the premium is chosen, it cannot be altered throughout the premium payment term. Top-up premiums are not allowed under the policy.
- The sum assured under the plan is equal to 10 times the annualised premium.
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The investment funds under the plan are:
- Secured fund
- Smart fund
- Balanced fund
- Prima fund
- Growth fund
- The initial premium is invested in any of the 5 funds. Subsequent premiums will be invested in the existing funds at that time. The policyholder can only be in one fund at any point of time.
- The policy offers maturity benefit, death benefit, and surrender benefits, as applicable.
- Partial withdrawals are allowed under the plan.
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| Sahara Ankur |
- This plan is targeted at parents who desire to secure the lives of their children and also accumulate a good amount of savings through market-linked investments.
- The unit-linked insurance plan enhances the value of the policyholder’s savings throughout the tenure.
- The premium is payable till the life assured reaches 21 years of age.
- Single or regular premiums (monthly/half-yearly/yearly) are allowed under the plan.
- In the case of a single premium policy, the policyholder should choose any one fund at the time of inception.
- For regular premium plan, the policyholder can choose the fund into which the initial premium is invested. Subsequent premiums will be allocated to the funds existing at that time.
- The plan provides maturity benefit, death benefit, and surrender benefit.
- Partial withdrawals are allowed under the Sahara Ankur plan.
- The plan can be enhanced with the use of the Premium Waiver Benefit Rider.
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The policyholder contributes a defined sum of money towards an endowment plan for the purpose of fulfilling his/her short-term/long-term goals. Along with savings, endowment plans also offer life insurance coverage.
The endowment plans offered by Sahara Life Insurance are:
| Plan name |
Key features |
| Sahara Shrestha Nivesh Jeevan Bima |
- This is a “without profit” single premium endowment plan that does away with the burden of annual payments. Customers who have an uneven stream of income or those who have received a large amount of money unexpectedly can invest it in this plan.
- The minimum sum assured under the plan is Rs.30,000 and the maximum sum assured is Rs.1 crore.
- The insurer offers high sum assured rebate for qualifying customers.
- The policy offers maturity benefit, death benefit, and surrender benefit.
- The plan also provides tax benefits, as applicable under the prevailing income tax laws.
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| Sahara Shubh Nivesh Jeevan Bima |
- This is a “without profit” single premium endowment plan that offers more liquidity than other endowment plans provided by the insurer.
- The plan is suitable for customers who are investment savvy and also require life protection.
- The minimum sum assured under the plan is Rs.50,000 and there is no limit on the maximum sum assured.
- Qualifying customers can benefit from high sum assured rebate.
- The policy offers death benefit, maturity benefit, and surrender benefit.
- Premiums paid towards the plan and benefits payable are eligible for tax rebates as per the prevailing income tax laws.
- A policyholder can avail a loan under the plan. The loan can be up to 90% of the surrender value of the policy.
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| Sahara Dhan Sanchay Jeevan Bima |
- This is a “with profit” regular premium traditional endowment plan that provides the policyholder a steady income and life cover under a single product.
- The minimum sum assured under the policy is Rs.50,000 and there is no limit on the maximum sum assured.
- Premiums can be paid at yearly, half-yearly, quarterly, and monthly frequencies.
- The plan offers high sum assured rebates for eligible customers.
- The policyholder can also benefit from a rebate in premium if he/she chooses yearly or half-yearly premium payment mode.
- The plan offers maturity benefit, death benefit, and surrender benefit.
- Sahara Dhan Sanchay Jeevan Bima cannot be enhanced through the use of riders, as add-on plans are not allowed under it.
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A retirement plan is an organised savings and investment option that helps the policyholder accumulate a significant amount of money in his/her retirement corpus.
The retirement plan offered by Sahara Life Insurance is:
| Plan name |
Key features |
| Sahara Amar Jeevan Plan |
- The plan enables the customer to plan for his/her retirement period by making small savings during his/her working life. The retirement corpus created through these savings provide a regular income to the life assured during retirement.
- The minimum sum assured under the plan is Rs.50,000.
- When the policy matures, the sum assured, vested bonus and terminal bonus (if applicable) are paid to the life assured.
- The plan also provides a death benefit to the nominee of the life assured when death occurs during the policy term.
- The plan offers tax benefits on the premiums paid and maturity proceeds received.
- Premiums can be paid at yearly, half-yearly quarterly, and monthly frequencies.
- The plan provides high sum assured rebate to eligible customers.
- The policyholder can also avail a premium rebate if he/she chooses to pay premiums annually or semi-annually.
- Sahara Amar Jeevan Plan provides surrender benefits to the policyholder as well.
- The plan coverage can be increased by adding riders to the base plan.
- Additional benefits under the plan include grace period and free-look period.
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Money back plans offer payouts at regular intervals throughout the policy term. In addition to this, death benefit and maturity benefit are offered to the policyholder.
The money back plans from Sahara Life Insurance are:
| Plan name |
Key features |
| Sahara Pay Back Jeevan Bima |
- This is a traditional, limited premium, participating, money-back plan that provides lump sum payouts at specific intervals throughout the policy term.
- The plan also provides life insurance coverage.
- The minimum sum assured under the policy is Rs.75,000 and the maximum sum assured is Rs.1 crore.
- Premiums can be paid at monthly, quarterly, half-yearly, and yearly frequencies.
- The insurer offers high sum assured rebate on premium.
- Rebates are also offered when the premium payment frequency is either yearly or half-yearly.
- The plan offers death benefit, survival benefits, maturity benefit, and surrender benefit, as applicable.
- The plan coverage can be enhanced through the use of the Accidental Death Benefit (ADB) rider.
- The policy also offers tax benefits according to the prevailing tax laws.
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| Sahara Dhanvriddhi Jeevan Bima |
- This is a “without profit”, single premium, money back plan that provides life insurance cover up to policy maturity.
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Based on the sum assured and policy term chosen,
- The plan offers regular payouts throughout the tenure.
- The premium is paid back when the policy reaches maturity.
- Guaranteed additions are also offered under the plan.
- The minimum sum assured under the policy is Rs.50,000 and the maximum sum assured is Rs.1 crore.
- The plan offers death benefit, survival benefits, surrender benefit, and maturity benefit.
- The policyholder can also avail tax benefits under the plan, as per prevailing income tax regulations.
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| Sahara Dhanvarsha Jeevan Bima |
- This is a limited premium, non-participating, money back plan that offers life insurance coverage and regular payouts under the same product.
- The minimum sum assured under the policy is Rs.75,000 and there is no limit on the maximum sum assured.
- The plan offers premium rebates for policies with premium payment frequencies of yearly and half-yearly.
- The policy offers death benefit, regular survival benefits, maturity benefit, and surrender benefit.
- Sahara Dhanvarsha Jeevan Bima also provides tax benefits, as applicable.
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Sahara India Life Group Plans -
Sahara Life Insurance provides customised group insurance policies that can be utilised for the benefit of employees in an organisation.
The group plans offered by Sahara Life Insurance are:
| Plan name |
Key features |
| Sahara Samooh Suraksha |
- This policy offers term insurance coverage for groups. The plan also provides benefits based on market appreciation of the savings part of the premium.
- The cost of a group insurance plan is lower than that of an individual insurance plan. So, Sahara Samooh Suraksha is a cost-effective form of life insurance.
- The minimum group size restriction under the plan is 50.
- The minimum sum assured per member is Rs.50,000 and the maximum sum assured for each member is Rs.5 lakh.
- The policy offers tax benefits, as applicable.
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| Sahara Jan Kalyan Social Security Scheme |
This is a pure term group insurance product that has been created for the underprivileged sections of the society. The plan is predominantly chosen by groups that belong to informal/unorganised sectors of employment, including backward classes and vulnerable individuals in the society.
- At least 50 members should be part of the group that takes the insurance.
- The policyholder can choose a uniform cover that ranges between Rs.10,000 and Rs.25,000.
- Cost of group term insurance is much lower than that of individual insurance. The premium under Sahara Jan Kalyan Social Security Scheme is Rs.10 per Rs.1,000 sum assured.
- The premium rate is guaranteed for a year.
- The policy offers an additional accidental death benefit that is equal to the sum assured, if death is caused within 180 days from the accident.
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A rider can be used to amplify the coverage provided by the base insurance policy. Sahara India Life Insurance offers its customers the Sahara Accidental Death Benefit Rider that can be added to qualifying insurance plans.
| Plan name |
Key features |
| Sahara Accidental Death Benefit Rider |
- If the life assured faces death due to accident within 180 days from the accident date, the rider sum assured is paid to the nominee.
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The minimum sum assured under the rider is Rs.50,000 and the maximum sum assured is the lower of:
- The sum assured under the base policy
- Rs.20 lakh
- The premium payment term of the rider is the same as that of the base policy, subject to a maximum maturity age of 65 years.
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How to make a claim with Sahara Life Insurance?
Sahara India Life offers a simple and hassle-free claim settlement process for its customers. If you wish to make a claim, you may follow the steps given below and proceed with the claim settlement process:
- In order to make a claim with Sahara Life Insurance related to death, critical illness, or permanent disability, the claimant will have to submit relevant documents at the official address of the insurer’s claims department. The relevant address and a list of documents required for the claim can be found in the policy documentation. The claim form will be available at any of the Sahara Life Insurance branches. Alternatively, customers can get the claim form from their life insurance advisors.
- The policyholder can make the claim, except in the case of a death claim. The nominee will be the claimant in that scenario. If the nominee is a minor, an appointee can intimate the claim. If all the stakeholders (as per the contract) have suffered from an unforeseen incident, the claim can also be raised by the legal heir of the life assured, after submission of proof of heirship.
- In the event of a death claim, the claimant is required to submit the original death certificate along with the policy documentation. For a critical illness claim, a photo of the insured, medical records, proof of address, and ID proof should be submitted.
- The Sahara Life Insurance staff will assist you throughout the claim submission process.
- The company reviews the claim documents and evaluates the validity of the claim. After this, appropriate payouts are made. Updates on the claim status will be provided to the customer through SMS and letters.
Claim Settlement Ratio of Sahara Life Insurance
Sahara life insurance has a decent claim settlement ratio in the life insurance industry. The claim settlement process followed by the company is pretty standard, and it ensures a hassle-free solution for its customers. The company’s claim settlement ratio for the fiscal year 2017-18 is given below:
| No. of claims received |
No. of claims approved |
Claim settlement ratio |
| 672 |
556 |
82.74% |
Claim settlement ratio trend over the years:
| Year |
2011-12 |
2012-13 |
2013-14 |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
| Settlement Ratio |
78% |
85% |
90% |
90% |
90% |
90% |
83% |
Documents required for buying a Sahara Life Insurance Policy:
The basic documentation required to apply for a Sahara Life Insurance policy are:
- ID Proof - This can be the customer’s passport, PAN Card, Voter’s ID, etc.
- Age Proof - The passport or Voter’s ID of the customer can be used for this purpose.
- Income Proof - The applicant is required to submit recent payslips from his/her current employment.
- Address Proof - The applicant may submit his/her passport or utility bills for this purpose.
- PAN Number - This information is available in the customer’s PAN card, and it is required for application.
How to check the policy status?
A customer can check the status of a policy from Sahara Life Insurance through any of the following methods:
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Check the status online
- A policyholder can login to the Sahara Life Insurance website and access the relevant menu option to check the policy status.
- Alternatively a customer can send an email to sahara.life@sahara.in for updates on policy status. The email should contain the name of the policyholder, policy number, mobile number, and address. The customer will be notified of the policy status through email.
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Check the status offline
- Customers can walk into Sahara Life Insurance office branches and request for the status of their policies.
- Another option to check policy status is the customer care helpline of the insurer. A policyholder can dial the toll-free number, 1800-180-9000, to speak to a customer service representative. He/she will be able to provide updates on the policy status. The customer care team of the insurer can also be contacted at (0522) 2306955 and (0522) 2306966. The team is available from 10 a.m. to 5 p.m. on weekdays and 9 a.m. to 4 p.m. on Saturdays.
Sahara Life Insurance Online Payment
Customers can pay premiums through various modes, such as:
- Issuing a cheque in favour of Sahara India Life Insurance Company Ltd. This should be payable at any of the cities where the insurer has branches. The cheques can be submitted at any of the branch offices.
- Customers can also pay premiums through ECS.
- Additionally, the insurer accepts cash premium payments.
Sahara Life Insurance Premium Calculator
The Sahara Life Insurance website has an online premium calculator that requires certain basic details as input. These parameters are:
- Name of the life assured
- Gender
- Product offered by the company
- Age of the life assured
- Premium type, i.e., single premium or regular premium.
- Frequency of premium payment, i.e., yearly, half-yearly, quarterly, monthly, etc.
- Policy term
- Premium that the policyholder can pay towards the plan
Once the input parameters are entered, the tool calculates the sum assured and premium waivers (if any) that the policyholder will receive from the policy. Additional terms and conditions applicable to the selected plan are also displayed.
Sahara Life Insurance Frequently Asked Questions:
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What are the premium rebates offered by Sahara Life Insurance?
a. The insurer offers premium rebates for high sum assured. Apart from this,, when a customer opts for yearly or half-yearly modes of premium payment, he/she receives rebates of 3% and 1.5%, respectively.
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What will happen to the Sahara life insurance policy benefits when the life assured starts smoking or drinking after taking the policy?
a. base insurance policy will not be affected by this act. However, if the life assured suffers accidental injuries, death, or disability while under the influence of alcohol, the event will not be covered under the insurance plan.
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What are the different frequencies at which a customer can pay premiums to the insurer?
a. The frequency of premium payment varies by product. Some policies only have single premium payment mode, while others have regular premium payment mode. Under a regular premium payment plan, the policyholder can choose to pay yearly, half-yearly, quarterly, or monthly. Monthly premium payment mode is allowed only for group billing and direct debit.
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For how long should a Sahara life insurance policy be in-force before it can be surrendered?
a. Customers can surrender a policy only after the completion of the lock-in period. Based on the terms and conditions under the plan, this could be 3 or 5 years.
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What documents should I submit for policy surrender?
a. order to surrender a policy, you will have to submit the following documents:
- Policy bond
- Policy surrender form
- Self-attested copy of your ID proof
- Bank attested copy of your bank statement/passbook
- Any other document, as indicated by the insurer
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My claim has been rejected by Sahara Life Insurance. Are there any specific reasons for the rejection of a claim?
a. Sahara Life Insurance would reject a claim under the following circumstances:
- When the claim was raised, the policy had already lapsed.
- The event for which the claim was raised is not included in the plan coverage.
- The loss that was reported in the claim is not classified as loss under the plan.
b. In order to avoid claim rejection, it is advisable that you read through the exclusions under the plan and be aware of the specifics before raising a claim.
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My address has changed after I took the policy. How can I update my address with the insurer?
a. You can visit the nearest branch of Sahara Life Insurance and inform the policy servicing department of the change in your address. Alternatively, you can login to the customer portal at the Sahara Life Insurance website and update your address.
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What is the ECS facility for premium payment?
- Sahara Life Insurance has introduced the Electronic Clearing System (ECS) facility for the benefit of its customers.
- Through the system, customers can pay premiums at various frequencies, i.e., monthly, quarterly, half-yearly, and yearly.
- The minimum amount of premium that you can pay through ECS in a month is Rs.500.
- Three monthly premiums are collected at the inception of the policy.
- To opt for the facility, the customer is required to update an ECS mandate with proposal documents enabling premium payment by direct debit.
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Can I get a loan under my policy?
a. Sahara Life Insurance offers several plans under which you can avail loans. This is possible only after the policy has reached surrender value. You will find details of the maximum loan amount in the policy documentation. The insurer will charge an interest on the outstanding loan balance at a rate decided by them.
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I have lost my policy documents. What are the next steps?
a. If you have lost your policy documentation and would like to apply for another copy of the same, you will have to provide an indemnity document on a non-judicial stamp paper, as per the company-specified format.
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