Sahara Dhan Sanchay Jeevan Bima Plan

Introduction/Overview
Sahara Dhan Sanchay Jeevan Bima Plan is a traditional participating Endowment Plan which takes care of savings for future use and life insurance cover

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Save Upto ₹46,800 in tax under Sec 80C
Inbuilt Life Cover
Tax Free Returns Unlike FD+

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

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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:

	Minimum	Maximum
Entry Age (Nearest Birthday)	14 years	50 years
Maturity Age (Nearest Birthday)	-	70 years
Policy Term (PT) in years	15	40
Premium Paying Term (PPT) in years	Equal to policy term
Premium Paying Frequency	Yearly, half-yearly, quarterly, monthly
Yearly Premium	Depends on SA, age and term
Sum Assured	50,000	No limit

Details About Premium

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

Age	Premium	Sum Assured	Bonuses @ 4%	Bonuses @ 8%
35 years	7515	100,000	29,325	51,000

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.