Sahara Shubh Nivesh Jeevan Bima Plan

The Sahara Shubh Nivesh-Jeevan Bima Plan is a plan commonly chosen by individuals who are looking for an investment plan that provides security to your family and your finances. This plan helps with meeting future aspirations such as purchasing a house, a vehicle or even financing your children’s education. The deciding factor that helps individuals realize their dreams is if they make financial plans of investing in “Wealth Creation’ schemes. Some of the common features of this plan are:

• Sum Assured shall be payable to the policyholder at the time of maturity
• Policyholders can avail tax benefit under prevailing income tax laws
• Sum assured can meet the financial needs and requirements of individuals

Eligibility – Who is the Sahara Shubh Nivesh-Jeevan Bima Plan for?

An individual will have to meet the eligibility criteria listed below to avail the Shubh Nivesh-Jeevan Bima Plan:

Parameters	Details
Minimum Age of Entry	9 years (as on nearest birthday)
Maximum Age of Entry	60 years (as on nearest birthday)
Policy Term (Fixed)	10 years
Maturity Age	70 years

Sum Assured and Premium Range – What you get and what is costs

Sum Assured

The sum assured is based completely on the premiums that you will be required to pay to avail the benefits of the policy. The sum assured for Sahara Shubh Nivesh-Jeevan Bima Plan is listed below:

Parameters	Details
Minimum Sum Assured	Rs.50,000 after which increments of Rs.5,000 shall be made
Maximum Sum Assured	No limit

Sum Assured Rebates

Parameters	Details
Sum Assured is less than Rs.1.25 lakhs	No rebate available on tabular premium
Sum Assured is equal to or more than Rs.1.25 lakhs and lesser than Rs.2 lakhs	3.5% rebate available on the tabular premium
Sum Assured is equal to or more than Rs.2 lakhs and lesser than Rs.4 lakhs	6% rebate available on the tabular premium
Sum Assured is equal to or more than Rs.4 lakhs	8% rebate available on the tabular premium

Premiums*

Premiums are paid to the insurer to purchase a policy from them so that the individual can come under the umbrella of benefits and coverage that this plan has to offer. The premiums that a policyholder will have to pay towards a Sahara Shubh Nivesh-Jeevan Bima Plan are listed below:

Parameters	Details
Yearly Premium	This depends on the Sum Assured that the policyholder has chosen
Premium Payment Term	Single Premium

*Premiums paid vary based on age, location, plan term and other factors

Annual Premiums paid:

Age	Premium	Term	Maturity/Death Benefit	Sum Assured
35 years	Rs.43,314	10 years	Rs.80,000	Rs.80,000

Premiums for a Sahara Shubh Nivesh-Jeevan Bima Plan can be made using any of the following ways:

• Using payment gateways or internet banking
• Payment in cash at the insurer’s branch office
• Through the use of debit or credit cards
• ECS/Direct Debit/Salary Deduction Scheme
• With a cheque or demand draft

Plan coverage – What the Sahara Shubh Nivesh-Jeevan Bima Plan covers

The Sahara Shubh Nivesh-Jeevan Bima Plan offers a number of different benefits and these are listed in the table below:

Parameters	Details
Death Benefits	The Sum Assured at the time of death of the policyholder shall be payable by the company to the nominee or beneficiary of the policy. Sum Assured shall be no lesser than 125% of the Single Premium paid at the time of entry where the entry age is lesser than 45 years and shall be no lesser than 110% of the Single Premium for age of entry that is more or equal to 45 years.
Maturity Benefit	The Sum Assured at the time of maturity shall be payable to the policyholder on maturity of the policy.
Tax Benefits	As per the prevailing tax laws

Exclusions – What the Sahara Shubh Nivesh-Jeevan Bima Plan doesn’t cover

If the policyholder commits suicide within a year from the date of commencement of the policy or revival date, whether the policyholder is sane or insane at the time of death, the nominee or beneficiary of the policy shall be entitled to 80% of the premiums that have been paid.

Other Key Benefits

Parameters	Details
Free Look Period	In case the policyholder is not satisfied with the “Terms and Conditions” of the policy, a 15 day period is provided where the insured can return the policy back to the insurer. The company will return any premiums that were made during this period after deducting any expenses incurred by the insurer such as stamp duty charges, medical expenses, etc.
Grace Period	Grace Period is not available with Single Pay plans.
Nomination	Nomination is allowed as per the existing tax laws under Section 39 of the Insurance Act, 1938.
Assignment	Assignment is allowed as per the prevailing tax laws under Section 38 of the Insurance Act, 1938.
Loan Facility	Loan facility is available for amount that come up to 90% of the Surrender Value.
Surrender Value	The Surrender Value shall be the higher value between: The Guaranteed Surrender Value which is equal to 70% of the single premium that is paid. The Guaranteed Surrender Value stands at 90% of the single premium that is paid if the policy is surrendered after a period of three years from the time of inception of the policy. Special Surrender Value calculation shall be conducted based on the experience of the company and this is subjectable to change by the company without prior notice.

 

Tax Benefits – How you can save with the Sahara Shubh Nivesh-Jeevan Bima Plan

A policyholder can enjoy tax benefits on any premium that is paid towards Sahara Shubh Nivesh-Jeevan Bima Plan under the prevailing tax laws under Section 80C and for monthly income received by the policyholder under 10(10D) of the Income Tax Act, 1961. Tax benefits are subject to changes without prior notice so it is important that the policyholder consults a Tax Advisor to stay informed about any changes made.

Other Benefits - How you can save with the Sahara Shubh Nivesh-Jeevan Bima Plan

Listed below are the benefits that you can avail by choosing the Sahara Shubh Nivesh-Jeevan Bima Plan:

• Get policy updates through SMSes
• Manage the policy online
• Get coverage for your entire family
• You can ask for an advisor to guide you
• Get a quote easily online for your insurance policy
• Register and track claims easily online
• Download brochures and policy bonds online
• Contact the customer care through various avenues
• Get a quote easily online for your insurance policy
• Pay premiums online
• Download brochures and policy bonds for Sahara Shubh Nivesh-Jeevan Bima Plan online

Why you should buy the Shubh Nivesh-Jeevan Bima Plan from Sahara India Life Insurance Company Ltd?

Sahara India Life Insurance Company Limited is a wholly owned Indian insurance company that entered the Indian life insurance market in the year 2004. The company offers a plethora of insurance products from endowment plans and ULIPs to annuity and money back plans. It offers personal insurance as well as group insurance plans which are designed to cater to the needs and requirements of its customers that hail from different backgrounds. Sahara Shubh Nivesh-Jeevan Bima Plan offers an added level of financial protection to the life assured’s family in the case of any unfortunate event such as accidental death. This plan specifically comes in handy when you intend on purchasing a house or vehicle or if you are in dire need of financial aid to help fund your children’s education.