Sahara Ankur Child Plan

Sahara Ankur Child Plan is an investment plan that provides a safety net for your child's various expenses, such as education and marriage, ensuring funds are available when needed.

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Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

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  • Tax Free maturity amount+

  • 12+ plans available

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Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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What is the Sahara Ankur Child Plan?

Sahara Ankur Child Plan was a Unit Linked Insurance Plan (ULIP) offered by Sahara Life Insurance. This child insurance plan was designed to help parents save money for their child's future needs, like education or marriage, while also providing life insurance coverage. The plan is no longer available as it was withdrawn in August 2010.

Features of Sahara Ankur Child Plan

  • Market-linked Investment: The Sahara Ankur Child Plan allows you to invest in market-linked investment options. This plan offered the potential for higher returns compared to traditional savings plans but also came with investment risk.

  • Fund Choice and Flexibility: You could choose from 5 different investment funds to suit your risk appetite.

  • Maturity Benefit: On maturity, you could receive the fund value accumulated over the policy term.

  • Death Benefit: In case of the parent's death during the policy term, the sum assured was paid to the child.

  • Premium Payment Flexibility: You could choose to pay premiums in a single lump sum or spread them in regular payments.

Eligibility Criteria of Sahara Ankur Child Plan

The investment option is offered with the following eligibility conditions:

Eligibility Criteria Details
Entry Age  0 – 13 years
Premium Payment Term (PPT) 21 years – Entry Age
Maturity Age 25 – 40 years
Policy Term (PT) 12 – 30 years
Minimum Sum Assured (SA) Life assured’s age ≤ 10 years= Rs. 15 lakhs;
Life assured’s age ≥ 11 years= Rs. 24.75 years.
Minimum Premium Single Pay: Rs. 30,000;
Regular Pay: Rs. 8,000 (yearly); Rs. 4,000 (Half-yearly); Rs. 750 (monthly).

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Benefits under the Sahara Ankur Child Plan

Here are some of the benefits offered by the Sahara Ankur Child Plan:

  • Market-linked Returns: The plan had the potential for higher returns compared to traditional child plans but also came with investment risks.

  • Fund Choice and Flexibility: You could choose from different investment funds based on your risk appetite.

  • Maturity Benefit: Upon policy maturity, you would receive the entire fund value which represents the accumulated amount over the years. This amount would depend on the performance of the units you chose.

  • Death Benefit: In case of the policyholder's death during the policy term, the nominee would receive the higher of the following:

    • Sum assured (which is a predetermined amount)

    • Fund value at the time of death

  • Premium Payment Flexibility: The plan offers the flexibility to choose a premium payment term (single premium or regular payments) and fund options to suit your risk appetite.

  • Partial Withdrawals: The plan allowed partial withdrawals from the fund value after a certain policy period, subject to conditions.

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Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child View Plans
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

People also read: Child Investment Plans

Policy Details of Sahara Ankur Child Plan

  • Premium Grace Period: You have 30 days to pay yearly and half-yearly premiums and 15 days for monthly premiums. If you miss a payment but die within this grace period, your policy remains valid. Your nominee receives either the sum assured minus withdrawals or the fund value, whichever is higher.

  • Premium Discontinuation: If you don't pay premiums for three years and miss the grace period, your policy lapses. You can revive it within two years by paying overdue premiums and proving insurability. After three years of premiums, you have a two-year revival period. If not revived, you can't revive it later but can continue the risk until the fund value equals one year's premium.

  • Revival Period and Death Benefit: Revival period is two years from the first missed premium. If at least three years' premiums have been paid, your nominee receives either the sum assured minus withdrawals or the fund value. If less than three years' premiums have been paid, the nominee receives the fund value.

  • Loan Availability: No, loans are not available under this plan.

People also read: Government Schemes for Girl Child

How Does the Sahara Ankur Child Plan Work?

Step 1- Enrollment: You enroll yourself in the plan, naming your child as the beneficiary.

Step 2- Premium Payment: You choose a premium amount and a payment schedule (monthly, half-yearly, or yearly) that suits your budget. You continue paying premiums until your child reaches a specific age, typically 21.

Step 3- Investment & Growth: The paid premiums are invested in different fund options based on your chosen risk tolerance. The goal is to grow the money over time.

Step 4- Maturity Benefit: Upon policy maturity (when your child reaches a predefined age), the plan pays out a lump sum amount. This amount consists of the accumulated fund value (invested amount + returns).

Step 5- Death Benefit: If you, the policyholder, pass away during the policy term, a death benefit is paid to your child. The exact amount depends on the plan's terms and any withdrawals made.

Step 6- Surrender Benefit: You might have the option to surrender the policy after a certain period (usually a few years). In this case, you would receive a surrender value, which is a portion of the accumulated fund value.

FAQs

  • What is the purpose of the Sahara Ankur Child Plan?

    The Sahara Ankur Child Plan is a unit-linked child insurance plan designed to help you save for your child's future needs like education or marriage. It offers a combination of investment and insurance benefits.
  • What are the benefits of the Sahara Ankur Child Plan?

    The plan offers benefits like maturity benefit (a lump sum amount on policy maturity), death benefit (a payout in case of the policyholder's demise), surrender benefit (receivable amount if you surrender the policy prematurely), and potential for bonus additions (declared by the company).
  • Who is eligible for the Sahara Ankur Child Plan?

    Typically, parents or guardians can purchase this plan for a minor child. The specific age eligibility criteria for both the proposer (you) and the child might vary, so it is best to check with Sahara directly. It is important to note that this plan is discontinued and unavailable.
  • What are the different premium payment options available?

    The Sahara Ankur Child Plan may offer various payment modes for premiums, such as single premium, monthly, half-yearly, or yearly instalments.
  • Does the Sahara Ankur Child Plan offer any tax benefits?

    Sahara Ankur Child Plan premiums may qualify for tax deductions under sections 80C and 10(10D) of the Income Tax Act (subject to change in tax laws).
  • What happens if the policyholder dies during the policy term?

    In case of the policyholder's demise, the death benefit amount is paid to the beneficiary (usually the child). This benefit can help financially secure your child's future.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

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Sahara Life Child Plans Reviews & Ratings

4.1 / 5 (Based on 22 Reviews)
(Showing Newest 10 reviews)
Rakesh
Kota, July 12, 2016
Child Care
My child have a child insurance plan which is less in premiums but the returns are many. Policy coverage is good and claims are easy to processed. Service is fine and online renewal of the policy is possible. Hassle free documentations and it reduces paperwork.
Alisha
Ajmer, June 29, 2016
Child Insurance Plan
The child insurance plan i purchase for my son. Service of your team is fantastic and very quick. Policy coverage is high and premium is less. The internet service is easy to operate and anyone can easily access it. Good future security for my child.
Saurabh
Palwal, May 17, 2016
Good
I have sahara life child plan. Policy coverage is good 88% but the premium is low. Service provided is bit slow and claims are good and Rs.33 L is the amount i get after policy get end. The updates regarding policy is send to me regularly. I just wanted to say that satisfactory policy plan. I like the plan.
Naveen
Badlapur, May 17, 2016
Perfect Plan
I have the best child policy i bought from sahara life insurance and the policy plan is awesome. The policy coverage is 90% and the claims are Rs.36 L after policy get mature. The investment is low and the returns are high. Good future plan with tax protection. Daily updates send me regularly. Good work.
Bhupesh
Chaksu, May 17, 2016
Good Policy Coverage
I found awesome sahara life child plan. The claim is high and the policy coverage is 87%. Service you provided is fast and very quick. Daily updates are mail and texted to me. The policy is good for future investment and it saves taxes also. The policy updates are mailed to me daily. I like it.
Himanshu
Bhiwani, May 17, 2016
Wonderful
I buy sahara life child plan. Policy have various benefits but the policy coverage is the best ~89% is covered in the policy. Claims are high and the premiums are low. Service is good. Nice future investment which saves tax also. The behaviour of executives is very calm.
Vivek
Coimbatore, May 17, 2016
Service Is Good
I purchase sahara life child policy plan. The policy coverage is 90% and the claims are good with low premiums. Service you provided is very quick and the behaviour of the executives and staff members is nice. Good future investment and it reduces taxes also.
Umakant
Deoli, May 17, 2016
Responsive Faculty
I own sahara life child plan which has very good policy coverage ~85%. The service is also good, fast and on time. The claims are high ~ 35 L and claiming process is easy because the executive and staff members providing good response and quick services. Good investment with tax savings. Daily updates are send to me regularly.
Lalit
Ahmedabad, May 17, 2016
Satisfactory
I found awesome sahara life child plan for my child. The claim is high and the policy coverage is 89%. Service you provided is fast and very quick. Daily updates are mail and texted to me. The policy is good for future investment and it saves taxes also. I'm satisfied with the policy.
Nakul
Gwalior, May 17, 2016
Fantastic Policy Plan
The best child policy plan i bought from sahara life insurance and the policy plan is awesome. The policy coverage is 90% and the claims are 37 L after policy get mature. The investment is low and the returns are high. Good future plan with tax protection. Service you provided is very quick and on time. Good for tax saving too. Good job.
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