Sahara Sanchit Jeevan Bima Plan

Sahara Sanchit Jeevan Bima Plan is a one -time pay Unit Linked Insurance Plan where the premium paid is invested in capital markets for maximum growth and it also provides insurance coverage for security

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  • Guaranteed Tax Savings

    Guaranteed Tax Savings^

    Under sec 80C & 10(10D)
  • savings

    ₹1 Crore

    Invest ₹10k Per Month*
  • Zero LTCG Tax

    Zero LTCG Tax^

    Unlike 10% in Mutual Funds
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Key Features

  • It is a unit linked plan with Single Pay option
  • The following 5 funds are available for investment:
    • Secured Fund
    • Balanced Fund
    • Smart Fund
    • Growth Fund
    • Prima Fund

Benefits

  • On Maturity, the Fund Value as on that date is paid to the policyholder
  • On death, higher of the Sum Assured net of any partial withdrawals made in the previous 2 years or the available Fund Value is payable to the nominee
  • Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Product Specification:

 

Minimum

Maximum

Entry Age (Nearest Birthday)

18 years

 65 years

Maturity Age (Nearest Birthday)

-

75 years

Policy Term (PT) in years

5

10

Premium Paying Term (PPT) in years

Single Pay

Yearly Premium

30,000

No limit

Sum Assured

Single Pay – 1.25 * Single Premium for ages <=45 yrs. & 1.1* Single premium for ages >45 yrs.

No limit

Details About Premium

Illustration for a policy of 7 years

Age

35 years

Premium

40,000

Sum Assured

50,000

Fund Value @ 6%

50,449

Fund Value @ 8%

65,932

Policy Details

Grace Period: grace period is not applicable under the plan

Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 3.5% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges

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.

Inclusions

  • Unlimited Free partial withdrawals are allowed every year which should be a minimum of Rs.2500 and maximum of 50% of the Fund Value as on the date of withdrawal provided that the Fund Value shall not fall below Rs.30,000
  • 2 free switches are allowed per policy year

Additional Features or Riders

  • Riders are not available under the plan

Exclusions

  • The benefit paid in case of suicide within 12 months of policy inception is the fund value as on that date.

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.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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