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  • Sahara Ankur Regular Premium

    Life Insurance
    • 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

    Most parents remain eager to cover an extra mile when it comes to providing for their children. Especially when it comes to education, parents strive to get the best for their kids. In fact, it is in the case of education that parents should plan way ahead to be able to pay for the best of schools and colleges. Life insurance is an option that helps you to attain your financial goals. The Sahara Ankur-Regular Premium is a flexible plan that lets parents plan and save up adequate amount of money for their kid's education, marriage, etc. This unit-linked plan improves the value of your savings over a certain span of time and offers options to you so that you can select a plan that would be suitable to your risk profile and investment exposure at various points during the policy term.

    Eligibility- Who is the Sahara Ankur-Regular Premium Plan for?

    This plan is ideal for anyone who is keen on planning their kid's financial security methodically and meticulously. Let us take a look at the eligibility criteria for this plan:

    Minimum entry age 0 years
    Maximum entry age 12 years
    Minimum maturity age 25 years
    Maximum maturity age 40 years

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

    Under this plan, the policyholder can pay the premium at regular intervals. As far as the sum assured is concerned, it depends on the age of the life insured to some extent.

    Following is a table showing the premium and sum assured break down in case of single as well as regular premium:

    Criteria Single premium Regular premium
    Minimum Premium Rs.30,000 Rs.8,000 annually, Rs.4,000 half-yearly and Rs.750 per month
    Sum Assured Five times of the premium paid in one go The annual premium will be subjected to the condition that the multiplier will be 20 for a policy term that is above 20 years

    Funding option:

    The funding option that can be availed by a policyholder under this plan and the limit of asset allocation according to the fund is as follows:

    Single premium: 97.5%

    Regular premium:

    Percentage of premium that has been allocated If the premium paying term is 9-12 years If the premium paying term is 13-16 years If the premium paying term is 17-21 years
    Year 1 90% 80% 75%
    Year 2 95% 90% 90%
    Year 3 95% 90% 90%
    Year 4+ 97% 95% 95%

    Plan coverage- What the Sahara Ankur-Regular Premium covers

    The Sahara Ankur-Regular Premium provides the following benefits:

    • Risk Cover: For the age bracket of 0-6 years, the risk cover will begin after 7 years of age once the policy commences. For 7 years and above, the risk cover will commence immediately.
    • On maturity: The policyholder will receive the fund value once the policy attains maturity.
    • On surrender, the following table will be referred to:
    If the policyholder pays the premium for 1 year but for less than 2 years 50% of the fund value
    If the policyholder pays the premium for 2 years but for less than 3 years 85% of the fund value
    If the policyholder pays the premium for 3 years but for less than 4 years 95% of the fund value
    If the premiums are paid for more than 5 years 100% of the fund value
    • In case of death: If the policyholder has paid all the due premiums, the maximum sum assured reduced by withdrawals between 2 years just after the demise of the life assured or the fund value on the submission of information about the death, will be paid.

    Exclusions – What the Sahara Ankur-Regular Premium Plan doesn’t cover

    The Sahara Ankur-Regular Premium Plan has a few exclusions. Exclusions refer to certain aspects that are not covered by an insurance plan. Let us take a look at the exclusions for this plan:

    • If the death has been caused due to a suicide or an attempted suicide while sane or insane.
    • If the policyholder has been involved in parachuting, aerial flight or skydiving.
    • If the policyholder has consumed intoxicating liquor or drugs or any narcotic substances.
    • If the policyholder is involved in any criminal activities or committed in a breach of law.
    • If the death has been caused due to war.
    • If the policyholder is involved in any dangerous sports such as power boat racing, horse racing, pot holing, jet skiing, boxing caving, mountaineering, etc.

    Other Key Features – Grace Period, Premium Payment, etc.

    Let us take a look at the other significant features of the Sahara Ankur-Regular Premium Plan:

    Grace period If you fail to pay your premiums on time by the due date, you can complete your premium payments within the grace period. This is a special facility offered by the plan.
    Premium payment Since the Sahara Ankur Plan has two premium options that allow you to pay your premiums in a flexible way, you can use the Sahara Ankur-Regular Premium Plan to pay your premium in regular intervals.
    Coverage until the policy anniversary Even if the membership for this group plan ends in the middle of the policy year, the member’s plan will receive coverage until the policy anniversary is completed.

    Tax benefits that come with the Sahara Ankur- Regular Premium Plan

    Insurance plans typically offer tax benefits when one pays the premiums. According to the Income Tax Act 1961, you will receive tax deductions as per these sections: Section 80C or Section 80CCC, and Section 80D or 80DDD. You can reach out to your tax advisor to learn how to make savings on taxes. To know about the tax benefits provided with this plan, you can consult your insurance advisor.

    Other benefits – How you can save with the Sahara Ankur- Regular Premium Plan

    Let us take a look at the other key benefits provided by this plan:

    • You can get all your queries clarified by calling the toll-free number of Sahara Life Insurance at 1800-180-9000.
    • The official website of Sahara Life Insurance has a ‘Send me an adviser’ option which has a form. You can fill this form with relevant details such as your name, address, home phone, mobile, email, and comment. Once your details have been received by the company, a representative will get in touch with you and provide you with help.
    • The grievance redressal procedure of this company is very well-organized. You can submit your grievance online and even track your complaint online conveniently.
    • You may also send your grievance by postal mail or by email to the company.
    • The website of Sahara Life Insurance has an exclusive section for displaying the unclaimed amounts.

    Why should you buy the Ankur- Regular Premium Plan from Sahara Life Insurance?

    Sahara India Life Insurance emerged as India's first wholly owned insurance company in India. It is one of the country's fastest growing insurance companies. It was founded in the year 2004 and has been instrumental in promoting the trend of getting financial security for individuals as well as families.

    The Ankur-Regular Premium Plan from Sahara Life Insurance is for anybody who is looking for ways to secure the future of their children. It is an amazing plan that will ensure that all the wishes that you had made for your children come true and you lead a life without worries.