Life is unpredictable, and it is this unpredictability that compels individuals to secure their financial future, as well as that of their family. One of the most popular methods of saving, is by availing an insurance plan.
The Dhan Sanchay Jeevan Bima plan by Sahara India Life is an endowment assurance plan that also provides profits. This insurance policy provides policyholders with a steady income that is a part of the life cover and benefits package. This plan comes with flexible payment modes as well as rebates. In short, the Sahara Dhan Sanchay Jeevan Bima Plan is a perfect savings and investment plan for individuals.
In order to avail this endowment insurance plan, individuals will have to meet certain eligibility criteria that is put forth by the company and these are:
|Minimum Age of Issuance||14 years|
|Maximum Age of Issuance||50 years|
|Minimum Policy Tenure||15 years|
|Maximum Policy Tenure||40 years, but is subject to a maximum age of maturity of 70 years.|
|Maximum Coverage Age||70 years|
All ages are based on the nearer birthday of the individual.
This is based on the policy tenure and payment term chosen, among other factors.
|Minimum Sum Assured||Rs.50,000 and after that in multiples of Rs.5,000.
|Maximum Sum Assured||No limit, but is based on underwriting.|
Premium is based on the sum assured that the policyholder opts for along with premium payment term, among other factors.
|Premium Payment Tenure||Same as policy tenure|
|Modes of Premium Payment||Annual/Semi-annual/Quarterly/Monthly|
Premiums may vary depending upon factors like age, location, term of the plan and prevailing taxes/GST.
This insurance policy provides a number of benefits as illustrated below:
This plan does not provide additional riders or benefits.
In case of the policyholder’s death as a result of suicide within a period of 12 months from the date of policy inception, the nominee will receive a minimum of 80% of all premiums that have been paid as long as the policy is still in force.
In case of the policyholder’s death as a result of suicide within a period of 12 months from the date of policy revival, the nominee will receive a higher of a minimum of 80% of all premiums that have been paid or the surrender value as long as the policy is still in force.
|Free-look period||In case the policyholder is not satisfied with the terms and conditions of the said insurance plan, he/she can return the same along with stated reasons within a period of 15 days from receipt of policy.|
|Loan||Loans are available under the this policy. The amount available is 90% of the surrender value and the rate of interest that will be charged will be determined by the company.|
|Surrender||This policy can be surrendered once a minimum of three years premiums have been paid under the policy.|
|Grace Period||The grace period for this policy is 30 days for yearly, half-yearly and quarterly mode of payment. For monthly mode of payment, the grace period available is 15 days.|
|Policy Revival||In case premiums are not paid within the given grace period, the policy will lapse and can be revived during the revival period, which is two years from the date of policy discontinuance.|
All premiums that have been paid along with the benefits provided by this plan are eligible for tax benefits under the existing income tax laws. However, these laws are subject to change from time to time, hence customers are advised to talk to their tax consultants prior to investing.
There are number of advantages provided by Sahara Life to all its customers, as listed below:
One of the most well-known insurance providers in the country, Sahara Life is known for their plethora of unique products and services along with robust customer care. The Dhan Sanchay Jeevan Bima Plan is perfect for those who wish to secure their family’s future, financially. The maturity and death benefit payouts ensure that policyholders can rid themselves of worry regarding their finances.
Additionally, Sahara Life also boasts of additional benefits such as online premium payment and a high claim settlement ratio. As a testament to their success, this insurance company has also won a number of awards.
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