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Sahara Accidental Death Benefit Rider Plan

Sahara Accidental Death Benefit Rider Plan is an optional accidental death benefit rider offered by Sahara India Life Insurance Company Limited to give its policyholders an added level of protection. Sahara ADB Rider is a non-linked accidental death benefit rider for people who require enhanced protection at an additional premium. Under this ADB Rider, you can get the following benefits:

  • Accidental Death Benefit Sum Assured is payable to the beneficiary in the unfortunate event of the demise of the life insured. The death must be a result of injuries sustained in an accident. Death must occur within 180 days of occurrence of accident.
  • Tax benefits as per the Income Tax Act, 1961.

Eligibility - Who is the Sahara Accidental Death Benefit Rider Plan for?

Listed below are the eligibility factors you must meet to purchase Sahara Accidental Death Benefit Rider Plan:

Minimum entry age 18 years
Maximum entry age 60 years or maximum entry age of base policy, whichever is lower
Maximum maturity age 60 years

Sum Assured and Premium Range - What you get and what it costs?

The Policy Term and Sum Assured for Sahara Accidental Death Benefit Rider Plan are as follows:

Policy Term As per the base policy, subject to a maximum maturity age of 60 years
Premium Payment Term (PPT) As per the base policy, subject to a maximum maturity age of 60 years
Sum Assured
  • Minimum Rs.50,000
  • Maximum Rs.20 lakhs (including cover under all previous policies with the company) or base policy Sum Assured, whichever is lower

Plan coverage - What the Sahara Accidental Death Benefit Rider Plan covers?

This is how the Sahara Accidental Death Benefit Rider Plan works, in the unfortunate event of the demise of the life insured, the nominee or beneficiary will be paid Accidental Death Benefit Sum Assured not exceeding Rs.20 lakhs (including cover under all previous policies with the company). The death benefit is payable only if the death is caused due to injuries sustained from an accident within 180 days of occurrence and while the rider is in force.

Exclusions - What the Sahara Accidental Death Benefit Rider Plan doesn’t cover?

Under Sahara Accidental Death Benefit Rider Plan, the company will not be liable to pay any benefit in the case of the death of the life insured caused either directly or indirectly by any of the following:

  • Attempted suicide.
  • Self-inflicted injuries under the influence of narcotics substances, drugs or liquor.
  • Participation in aerial flights such as parachuting and skydiving other than as a fare paying passenger on a licensed passenger-carrying commercial aircraft.
  • Committing any crime or unlawful activities.
  • Participating in extreme sports such as martial arts, mountaineering, etc.
  • War, civil commotion, unrest, etc.

Change of occupation or hobbies of the life insured has to be intimated to the company within 30 days in written notice. Failure to do so will result in the company declining to make payment under the ADB Rider if the death of the life insured is directly or indirectly related to such a change. Once the change is intimated, the company will determine revisions to the rider cover and send the policyholder notice of the revision. The policyholder can decide to terminate the rider policy within 30 days of receipt of the notice by submitting a written termination request.

Other key features – Freelook Period, Surrender Values, Grace Period etc.

Listed below are the key features of Sahara Accidental Death Benefit Rider Plan:

  • Free-look period: From the date of receipt of the rider policy document, you are given 15 days to review the terms and conditions of the policy. If you have any objection to the terms and conditions, you have the option to return the policy. You will be refunded the premium paid minus risk premium cover for that period and other charges, if any.
  • Claim: The company has to be informed of the claim in writing within 90 days of the event occurrence. All required documents such as the last medical attendant’s report, the original policy and rider documents, all medical and hospital records, a copy of the death certificate, claimant’s ID proof, a copy of FIR, post mortem report, and a copy of the life insured’s driving licence.
  • Revival: The rider can be revived only as per the base policy revival rules.

Tax Benefits – How you can save with the Sahara Accidental Death Benefit Rider Plan?

Under Sahara Accidental Death Benefit Rider Plan, you can get tax deductions on premiums paid under Section 80C of the Income Tax Act, 1961.

Other benefits – How you can save with the Sahara Accidental Death Benefit Rider Plan?

There are several other benefits of purchasing insurance plans and riders from Sahara India Life Insurance Company Limited such as:

  • Premium calculator: You can calculate premium using the online premium calculator which is available on the company website.
  • Insurance advisor: You can fill up and submit an online request form to get in touch with an insurance advisor who can guide you through all insurance related processes.
  • Grievance redressal: The company has a dedicated grievance redressal cell to resolve your grievances at the earliest. Visit the nearest Sahara India Life Insurance branch, call the company toll-free number at 1800-180-9000 or mail to grievance.life@sahara.in. Grievances will be acknowledged within 10 business days.
  • Premium payment: You can make premium payments via cheques or cash deposits at any of the company branch. Premium cheques should be drawn in favour of Sahara India Life Insurance Company Ltd.

Why should you buy Sahara Accidental Death Benefit Rider Plan from Sahara India Life Insurance Company Limited?

Sahara India Life Insurance Company Limited is the first fully Indian company to enter the Indian Life insurance market in 2004. The company offers a range of insurance products from annuity and money back plans to endowment plans and ULIPs. It offers group insurance as well as personal insurance plans that are designed to cater to the specific needs of its customers from different backgrounds. Sahara Accidental Death Benefit Rider Plan offers an added level of financial protection to the life insured’s family in the case of any unfortunate event such as accidental death.