Sahara Sugam Jeevan Bima Plan

Key Features

• It is a unit linked plan with Regular 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 subject to a minimum of 105% of all premiums paid
• 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:

Details About Premium

Illustration for a policy of 15 years

Policy Details

Grace Period: grace period of 30 days is allowed for payment of premium beyond which the policy will lapse

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
• 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.