Sahara Dhan Sanchay Jeevan Bima Plan

Key Features

• It is a participating plan with Regular Premium payment option

Benefits

• On maturity, the Sum Assured including the vested bonuses is payable to the policyholder
• On death of the policyholder ,higher of the guaranteed Sum Assured on death or 10 or 7 times the annual premium subject to a minimum of 105% of all premiums paid
• Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.

Product Specification:

Details About Premium

Annual premium in Rupees for a policy term and PPT of 15 years

Policy Details

Grace Period: 15 days grace period is allowed for monthly modes and 30 days for other modes

Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 3 years. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.

GSV = 30% of premiums paid if surrendered in 3^rd year

            50% of premiums paid if surrendered in 4^th to 7^th year

            50% and increasing by 3% if surrendered in 8^th year and beyond

All the values will include GSV of vested bonuses

SSV = 100% of paid-up value including vested bonuses

Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Additional Features or Riders

• High Sum Assured rebates are allowed for a coverage of 100,000 and above
• Rebates in premium for yearly and half-yearly mode of premium payment

Inclusions

• The plan provides loan of up to 90% of the Surrender Value

Exclusions

• In case of suicide committed within 12 months of policy inception only 80% of premiums paid are returned to the nominee.

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.