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
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.
Written By: PolicyBazaar - Updated: 21 October 2020
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Sahara India Life Insurance Reviews & Ratings
4 / 5 (Based on 113 Reviews)
(Showing Newest 25 reviews)
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.
Alibag, June 29, 2016
The term insurance plan i have is fantastic with low premiums. The service provided by the company staff is fabulous. Policy coverage and claims are high and claiming is easily done because of fast service provided by the executives of the company.
Kaushambi, June 29, 2016
The ulip plan of mine is good in many ways. The premium is low and returns are high. Service is fantastic provided by the company members. Policy coverage is good and updates regarding policy is mailed to my email id. Net service is also easy to use.
Akhandnagar, June 29, 2016
The policy premium is low and service form your side is okay. But the web service is very good, easy to accessible and anyone can operate it easily. Good traditional insurance plan with huge claims which easily sanctioned due to fast service.
Agartala, June 29, 2016
The pension plan i purchased is good and the premium is low. Service facilitate by the company members is good. Policy coverage is high and the claims are easily sanctioned. Hassle free documentations. It secure my future with good rewards.
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.
Faridabad, May 26, 2016
My sahara life pension plan is really very good. The service is bit slow. The policy coverage is 91% and claims are high but the investments are low. Service facilitate from executives and staff members are nice. Good future investment and saves tax too. The policy is nice, I like the terms and conditions.
Gwalior, May 26, 2016
My ulip policy plan is from sahara life insurance and the policy is the best because the policy has many benefits like the accident insurance is inbuilt in this policy. Policy coverage is high 88% and the premiums are low. Claims are 1.25 times of the investment. The service is fast and very quick. Great future investment with tax saving.
Mangalore, May 26, 2016
Very Nice Policy
I buy sahara life pension plan. The policy premium is low and the paybacks are high. The policy coverage is 90% and the claims are high. Investment is 34 K per year and the returns are very high. Services you provided by the executives and staff members is good. This policy plan work's for me. Satisfactory.
Mohali, May 26, 2016
The policy coverage is 89%, The claims are high and the claiming is easy because of the executives and the staff members of the company. The services provided by you guys is very fast and on time. Good work guys on your sahara life ulip plans which I purchase. The premiums are less ~35 K and the returns are ~Rs.39 L. Good job.
Chittaurgarh, May 26, 2016
I have the plan which one of the most convenient insurance policies which provider by sahara life insurance, So I buy pension plan and my investments will be safe. As I seen this company is coming generation to generation. Customer service is good and on time. Good future investment and save tax too. I like the plan.
Mussorie, May 26, 2016
I have ulip plan from sahara life insurance. The plan works for me. Policy coverage is also good ~85% with claiming amount is Rs.35 L. Service provided by you is awesome and fabulous with fast interface. Good future investment which save taxes. Updates regarding policy is mailed me time to time.
Lucknow, May 26, 2016
Coverage Is Good
I recently find policy that is very good plan and buy it from sahara life insurance. The product is pension plan. The policy coverage is high ~87% with very low premium. The service of all staff of your company is great with nice response. The return payback amount is around Rs.36 L at end of the policy.
Manipal, May 26, 2016
I purchase sahara life pension plan, the policy is great. Premium for my plan is 11 K thrice per year and at the time of maturity the sum assured might be 33 L. They have send daily update about policy through mails. The Policy coverage is high and the service provided by the executives and staff is fast. Good investment, I like it.
Ghaziabad, May 25, 2016
My sahara life pension plan is great. The policy has good coverage approx. 89% with low premium. Claims are also high and the returns is Rs.36 K per month after policy end. Service is fantastic and the executives do best work. Good investment for future and taxes are also reduced. I like the plan.
Jaipur, May 25, 2016
I have a sahara life pension policy plan like every one does. The policy is great with high returns and low premiums. Policy coverage is also nice ~ 87% and service is fast. Really good job guys, you provide best services. Great future investment with tax saving.
Srinagar, May 25, 2016
Friend suggested me a policy, so i buy sahara life pension plan. The policy coverage is high ~85% and the claim is around Rs.30 K per month after policy get mature. Great services with fast interface provided by executives and staff members. Good future investments with tax saving.
Mathura, May 25, 2016
I got a very fine policy sahara life pension plan. Now, I'm tension for future. The coverage is good around 89%, service is great and fast too, even the claims are fantastic. Great behaviour of executives and staff members, Good future investment and tax saver.
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