Introduction/Overview
Sahara Utkarsh Jeevan Bima Plan is a Unit Linked Insurance Plan which helps the policyholder to enjoy market returns and at the same time avail insurance coverage
Guaranteed Tax Savings
Under sec 80C & 10(10D)₹1 Crore
Invest ₹10k Per Month*Zero LTCG Tax
Unlike 10% in Mutual FundsThe following 5 funds are available for investment:
|
Minimum |
Maximum |
Entry Age (Nearest Birthday) |
12 years |
55 years |
Maturity Age (Nearest Birthday) |
- |
70 years |
Policy Term (PT) in years |
8 |
20 |
Premium Paying Term (PPT) in years |
Single Pay or equal to policy term |
|
Premium Paying Frequency |
Yearly, half-yearly |
|
Yearly Premium |
50,000 for Single Pay 20,000 for Regular Pay |
No limit |
Sum Assured |
Single Pay – 1.25 * Single Premium for ages <=45 yrs. & 1.1* Single premium for ages >45 yrs. Regular Pay – 10*annual Premium for ages<=45 years & 7*annual Premium for ages >45 years |
No limit |
Illustration for a policy term and PPT of 15 years
Age |
35 years |
Premium |
26,000 |
Sum Assured |
260,000 |
Fund Value @ 6% |
524,814 |
Fund Value @ 10% |
739,752 |
Grace Period: grace period of 30 days is allowed 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.
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
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