Sahara Life, a part of Sahara Pariwar, offers life insurance plans since its license approval in India. The IRDAI approved its license on 6 February 2004. With the IRDAI approval and the licensing, Sahara India became the 1st purely and wholly Indian Insurer. Sahara started its operations in October 2004. The company offers various insurance plans that cater to the different needs of the customer ranging from individual or group plans to term and endowment plans.
+Tax benefit is subject to changes in tax laws.
++All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
These life insurance plans provide a pure risk cover plan that helps a policyholder with a high level of protection at nominal costs. Sahara Life Term plans are cost-effective yet most vital of all life insurance products which secure the policyholder's family in case of his/her unfortunate demise. Sahara Kavach is a Sahara Life term plan.
The plan protects your family at low premium rates.
Rewards are also available for maintaining a healthy lifestyle.
You can opt for different premium payment options such as monthly or annually.
Tax benefits are also available u/s 80C and 10(10D).
*Tax benefit is subject to changes in tax laws. *Standard T&C Apply
This plan has been withdrawn by the insurer and is not available for sale purposes.
Sahara Kavach Plan is a term insurance plan that is suitable for people having limited savings and those who want to protect their loved ones against unfortunate times in life. The policy provides a chance to receive a large risk coverage by paying a minimal or lower premium than most of the term plan. If the policyholder dies during the policy tenure, the sum assured amount is paid to his/her family that helps them in dealing with the critical times.
To purchase the Sahara Kavach term insurance plan, a policyholder should have to fulfill certain eligibility standards set by the insurance company. These parameters are related to the life assured’s age and the coverage amount requested. The below table illustrates the eligibility conditions of the Sahara Kavach Plan:
Parameters |
Eligibility |
Entry Age |
Minimum: 18 years Maximum: 50 years |
Coverage Age (Maximum) |
65 years |
Benefit Term |
Minimum: 15 years Maximum: 20 years |
Premium Payment Term |
Equal to Policy Term |
Minimum SA (Sum Assured) |
Rs.5,00,000 and after that in multiples of Rs.50,000 |
Maximum SA (Sum Assured) |
No limit (depends on policy underwriting as well) |
All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C applies.
Flexibility in Paying Premiums: You are allowed to pay premiums in different modes such as yearly, half-yearly, quarterly, and monthly.
Death Benefit: A lump sum payout of 100 percent is paid to the beneficiary/nominee in case of the insured's death during the policy tenure.
Tax Benefits: Get tax benefits on premiums and the payouts under sections 80C and 10(10D) of the Income Tax Act, 1961.
Maturity Benefits: No maturity benefit is provided under this plan as it is a pure term insurance policy.
Premium Calculator: A premium calculator is offered by the Sahara Life term insurance plan. By using this calculator you can easily calculate the sum assured amount and the premium paid towards the plan.
Grievance Redressal – The insurance company has a different section of Grievance redressal where you can easily raise your issues. These issues were typically addressed by the insurer within 10 working days.
Premium Payment Mode: Premium can be paid towards the Sahara Kavach Plan at annual, semi-annual, quarterly, and monthly modes.
Rebates on Premium: For annual and semi-annual premium payment modes, the insurance company offers a rebate on the premium of 3 and 1.5 percent respectively.
Discontinuance of Premiums: In the case of discontinuance of premium, the policy lapses at the end of a grace period. A policyholder can revive a lapsed plan within 5 years from the outstanding premiums due date.
Surrender Value: No surrender value is applicable under Sahara Kavach Term Plan.
Policy Loan: No loan facility is available under this plan.
Grace Period: 30 days of grace period is allowed for yearly, half-yearly, and quarterly premium payment modes and 15 days of grace period for monthly premium payment mode.
If the policyholder commits suicide within one year from the date of inception or the revival of the policy, the plan will terminate and become invalid. In such cases, nothing shall be paid.