Sahara Kavach Plan

• Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
• Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
• Do more with plans that offer pure protection, retirement planning and investment options

Sahara Kavach is a term insurance plan that is useful for people with limited savings but who desire to protect their families against unprecedented events in life. The plan offers a chance to get a large risk cover by paying a lower premium than most plans. If the life assured succumbs to death during the policy term, the sum assured is paid to his/her family to help them survive the difficult phase.

Eligibility -Who is the Sahara Kavach Term Insurance Plan for?

In order to be able to buy the Sahara Kavach Term Insurance Plan, a customer will have to fulfill certain eligibility criteria laid down by the insurer. These factors are associated with the age of the life assured and the amount of coverage requested. These eligibility conditions are mentioned in the table below:

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

Sum Assured:

The policy offers the sum assured as death benefit to the nominee of the life assured. The minimum sum assured under the plan is Rs.5 lakh. The sum assured is paid thereafter in multiples of Rs.50,000. There is no limit on the maximum sum assured.

Premium:

The premiums under the plan are payable on an annual frequency for sum assured of Rs.5 lakh. The variance in premium based on age and policy term is as follows:

Plan coverage - What the Sahara Kavach Term Insurance Plan covers

The Sahara Kavach Term Insurance Plan from Sahara Life Insurance offers financial protection to the family of the life assured to survive difficult times. The term assurance plan offers the sum assured to the nominee if the insured person faces death during the term of the policy.

There is no maturity benefit under this plan, as it is a pure term insurance product.

Exclusions - What the Sahara Kavach Term Insurance Plan doesn’t cover

Suicide Exclusion - If the life assured commits suicide while the policy is in-force, the life coverage will be void and all payments made under the policy will be forfeited. This is applicable, irrespective of the sanity of the life assured.

Other Key Features – Freelook Period, Surrender Values, Grace Period etc.

Sahara Kavach Term Insurance Plan is characterised by the following key features:

Tax benefits – How you can save with the Sahara Kavach Term Insurance Plan

• Premiums paid towards the Sahara Kavach Term Insurance Plan are eligible for tax benefits under Section 80C of the Income Tax Act.
• Under Section 10(10D), the death benefit received under the plan will not be taxed like an income.
• Tax rules are subject to modification from time to time. So, please check the prevailing tax provisions before investing in the plan.

Other benefits – How you can save with the Sahara Kavach Term Insurance Plan

A customer who purchases a plan from Sahara India Life Insurance Company Limited will benefit greatly, as the insurer offers several other services in addition to the ones mentioned above.

Why should you buy Sahara Kavach Term Insurance Plan from Sahara India Life Insurance Company Limited?

Sahara India Life Insurance Company Limited is the first completely Indian-owned insurance solutions provider in the private sector. The aim of the insurance company is to ensure that all sections of the society can get access to life insurance coverage. As a part of this vision, the insurer has been focussing on insurance penetration to the rural regions of the country. The products offered by Sahara Life Insurance are also easy to understand and highly affordable. These schemes cover the varied insurance needs of customers from different age and income groups.The claim settlement ratio of the insurer in FY16 was a robust 90%. The company has also received several awards for its commitment to customer service and innovations in marketing.