Sahara India Life Insurance Company Limited was founded by the industrial group of Sahara Pariwar to venture into the field of insurance. The company is a wholly owned by an Indian Company i.e. Sahara Pariwar without having any foreign collaborators. The license to sell insurance was granted to the company by the Insurance Regulatory and Development Body (IRDA) on 6th of February 2004 and since then the company is making considerable progress in the insurance market through well-developed products which suit the needs and requirements of individuals universally.
Guaranteed Tax Savings
Under sec 80C & 10(10D)₹1 Crore
Invest ₹10k Per Month*Zero LTCG Tax
Unlike 10% in Mutual FundsTop performing plans with High Returns*
Invest ₹10K/month & Get ₹1 Crore returns*
The company was launched with an initial paid-up capital of 175 crores with Mr. Subrata Roy Sahara managing the company at its helm as its Chairman. The company sells a range of plans like protection plans, retirement plans, child plans, etc.
Sahara India Life Insurance has three different types of ULIP plans each with its own set of advantages. You can select the best ulip plan in India from Sahara India life insurance. Let us take a look at the different types of ULIP plans sold by the company and their features and benefits in details.
ULIPs is an acronym for Unit Linked Insurance Plans which provide the benefit of market participation and life insurance protection under the same plan. The premium paid is collectively invested over a range of investments available in the capital market and different types of securities are purchased. The collective value of all the securities purchased as per the market valuation on any day divided by the number of instruments gives the price per unit of the fund which is also called the Net Asset Value or NAV. The NAV determines the units allotted to every policyholder based on his premium and it changes every day. Other features of a unit linked plan are :
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
A unit linked insurance plan, or a ULIP, works in a way that combines insurance and investment. The premium you pay is broken up into parts. After deducting the administrative charges, a portion of the remaining premium is invested in the insurance fund. This fund is secured and risk-free. If anything were to happen to you during the policy period, your nominee would get the death benefit that would be paid out of this fund. The remaining amount is put in a fund and invested in the financial markets. There are four basic types of funds, each with its own level of risk, and you have to decide upon the fund yourself. As the policyholder you have the right to switch in between funds if you feel the chosen fund is not functioning well. Ultimately, the return you receive depends on how well the fund worked in the financial market. If your money is invested in a stock that does well, you will get a high sum assured and vice-versa.
There is one major difference between a ULIP and a traditional insurance plan and that is the risk factor. In a traditional plan, you don’t have to worry about the volatility of the financial markets as your money is not invested there. As a result, you earn a fixed return. In a ULIP though, you have the scope to earn a much higher return as your money is invested in the financial market and if it does well, you get a hefty return. On the flip side though, you stand to lose heavily as well if the markets functions poorly. This is something that happened to a lot of people during the recession of 2008, after which the popularity of ULIPs dipped considerably.
Sahara India Life Insurance has three different types of ULIP plans each with its own set of advantages. Let us take a look at the different types of ULIP plans sold by the company and their features and benefits in details.
The premium under this linked plan is paid only at the starting under the Single Pay Premium option. The plan features include:
|
Minimum |
Maximum |
Entry Age |
18 years |
65 years |
Maturity Age |
- |
75 years |
Policy Term |
5 years |
10 years |
Premium amount |
Rs.30, 000 |
No limit |
Sum Assured |
1.25 or 1.10 times the single premium paid depending on the age of the policyholder |
|
Premium Payment Term |
Single Pay |
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Another linked plan where the premiums paid are invested in the market to reap good returns. The plan features are given below:
|
Minimum |
Maximum |
Entry Age |
12 years |
55 years |
Maturity Age |
- |
70 years |
Policy Term |
8 years |
20 years |
Premium amount |
Regular Pay - Rs.20, 000 Single Pay – Rs.50, 000 |
No limit |
Sum Assured |
Regular Pay – 10 or 7 times the annual premium paid Single Pay - 1.25 or 1.10 times the single premium paid |
No limit |
Premium Payment Term |
Single Pay or Equal to policy tenure |
|
Premium paying Frequency |
Yearly or half-yearly |
Another unit lnked insurance plan providing the dual benefit of capital appreciation and life insurance coverage under the same plan. The plan has the following features:
|
Minimum |
Maximum |
Entry Age |
10 years |
55 years |
Maturity Age |
- |
70 years |
Policy Term |
10, 15 or 20 years |
|
Premium amount |
Rs.12, 000 |
No limit |
Sum Assured |
10 times the annual premium paid |
|
Premium Payment Term |
Equal to policy tenure |
|
Premium Paying Frequency |
Yearly |
The company offers specific plans which are available online only. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued
Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Other insurance provided by Sahara Life:
*All savings are provided by the insurer as per the IRDAI approved insurance
plan. Standard T&C Apply
Tax benefit is subject to changes in tax laws
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ