Sahara India Pariwar entered the Life Insurance industry in the year 2004 as India’s first wholly Owned Private Life Insurance Company with copious presence in most parts of the country.. The core objective of the Company has been to reach out across the country to all segments of society not only to the privileged and urban based but to those belonging to the middle class and living in the rural areas as well. With the state-of-the-art technology, Sahara India offers extensive range of competitive products to caters the insurance needs of individuals of all ages and segments
With the upward growth in Indian economy Sahara India Life Insurance Company provides specially crafted insurance product linked with capital market so as the insures should also earn straight profit from the great potential provided by these markets.
It is a non-participating without profit plan as such the policy will not participate in the profits of Sahara Life.
A term plan intended to provide insurance coverage to the economic weaker section of society.
Focused to all groups belonging to unorganized/informal sectors including economically weak or backward classes with at least 50 members are eligible to participate in this scheme
Affordable premium amount with comprehensive coverage.
No maturity or survival benefit.
Only death benefit shall be payable to the nominee in the event of death of the member during continued membership of the group.
Nominal premium starting from Rs. 100
Premium can be paid by group policyholder or members as totally or in portion as decided during inception of policy.
Grace period of one month for premium payment, post which the policy shall be terminated and will not have any value on termination.
Other value addition benefit includes Double Accident benefit which offers an additional benefit equal to sum assured shall be payable if death is caused within 180 days of any bodily injury sustained directly and solely from an accident
General Terms & Conditions for all the plans
Suicide Clause: In case of death due to suicide, within twelve months from the date of inception of the plans, the nominee or beneficiary of the policyholder shall be entitled to at least 80% of the premiums paid provided policy is in force or from the date of revival of the policy the nominee or beneficiary of the policyholder shall be entitled to higher of 80% of the premiums paid till the date of death or the surrender value.
Free look period: A policyholder is entitled to review the terms and conditions of the plans within a period of fifteen days from the date of receipt of the policy bond. If the policyholder disagrees with the terms and conditions, he has the option to return the policy bond after stating the reasons for the disagreement. In such a scenario, the policyholder would be entitled to refund of premiums paid after deducting the stamp duty. No further charges would be deducted.
As per Section 41 of the Insurance Act, 1938 (4 of 1938):— "No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectus or tables of the insurer.
v If any person fails to comply with sub regulation (2) above, he shall be liable to payment of a fine which may extend to Rupees five hundred
Sahara Life Insurance - FAQ
How to pay a premium? What are the modes of payment available?
The Sahara Life insurance company Ltd. offers different modes of premium payment namely:
/ Cheque payment at the branch
ECS ( At certain locations)
How can I check policy status?
To check the policy status login on the home page with your user name and password.
What is the policy renewal process?
To renew the policy, you can visit the nearest branch during working hours.
What is the company’s process to settle claim?
You can visit the nearest branch of the Sahara Life Insurance company between 10 AM to 5PM.
What is the policy cancellation process?
You can visit the nearest branch of the Sahara Life Insurance company to surrender your policy between 10 AM to 5PM. Upon succesful completion of the procedure, the refund will be directly debited in your account and the policy will stand cancelled.
Types of Deaths Covered and Not Covered by Term Insurance
When it comes to securing the future of your loved ones or...
Sahara India Life Insurance Reviews & Ratings
4.1 / 5 (Based on 115 Reviews)
(Showing Newest 10 reviews)
Ara, March 10, 2021
Pay premium amount
It is easy to pay the premium amount online. Nowadays, everything has become digitalized and I make the premiums payment once a year. Not so costly and was under my budget. Kudos team and thanks.
Ballabhgarh, March 09, 2021
Life protection coverage
One of my friend recommended me to get a term insurance plan. So I gave it a thought and start looking for a fine product. Finally I got sahara term insurance plan into the website of policybazaar. Such good plans and a life protection coverage for me and my family.
Patherdewa, March 20, 2019
Best life insurance
I recently bought a life insurance from Sahara life insurance for myself after a complete survey of the options available on Policybazaar. They have a vide range of insurers on-board which helps you choose what exactly you are looking for. I got mine, go look for yours.
Adilabad, March 20, 2019
Unlimited free partial withdrawals with tax free premium
I purchased Sahara Ulip Plans which provided me unlimited free partial withdrawals with a minimum value of Rs.2500 and premiums paid up to Rs.1.5 Lakhs are tax free.
Greater_noida, August 02, 2016
Sahara life insurance is on of the best brand in the market right now. I have took term insurance policy in very less investment. The policy cover maximum expenses, good future planing. Service is perfect and on time. The updates and the renewals can be done on online portal website.
Dalpur, July 12, 2016
My ulip policy is good, it provides good number of benefits. Policy coverage is high and policy covers maximum scenarios. Service is super fast which makes claiming part easy. Online service makes renewals easy and hassle free paperwork and documentations.
Deoli, July 12, 2016
Policy has maximum benefits and premium of the plan is also less. My investment plan has high policy coverage with good claims. Service is quick and due to that the claiming is simple to sanctioned. Online service gives easy renewals of the policy.
Gurdaspur, July 12, 2016
I have pension insurance policy by taking advice of my father. The policy has many benefits like maximum expenditure is given by the company after policy maturity period. Online service gives easy renewals and hassle documentations.
Kota, July 12, 2016
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.
Chandigarh, July 04, 2016
My term insurance plan is good and have good returns but the service is slow sometimes. Policy coverage is high and investment is less. Service of internet website is good but the staff service is bit slow. Please improve the customer service.
Policybazaar is registered as a Direct Broker | Registration No. 742, Registration Code No. IRDA/ DB 797/ 19, Valid till 09/06/2024, License category- Direct Broker (Life & General)
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