Sahara Dhanvrishti Plan
Sahara Dhanvrishti Plan is a Single Premium Non-Participating Money Back Plan. It is a Traditional Plan without Bonus facility.
Key Features
There are no additional riders in this plan.
Benefits
In case of death of the Life Insured within the Policy Tenure, the nominee gets 100% of the Sum Assured as Death Benefit, irrespective of the Survival Benefits already paid and the policy terminates.
Being a Money Back Plan, 15% of the Sum Assured is paid out at the end of every 3 policy years.
| Payment | 9 Years Policy | 12 Years Policy | 15 Years Policy |
| At the end of 3rd Year | 15% of Sum Assured | 15% of Sum Assured | 15% of Sum Assured |
| At the end of 6th Year | 15% of Sum Assured | 15% of Sum Assured | 15% of Sum Assured |
| At the end of 9th Year | - | 15% of Sum Assured | 15% of Sum Assured |
| At the end of 12th Year | - | - | 15% of Sum Assured |
| Guaranteed Addition as a % of Single Premium for various Policy Tenures | |||
| 9 Years Policy | 12 Years Policy | 15 Years Policy | |
| Rs 80,000 <=SA <= Rs 1,00,000 | 3% | 5% | 7% |
| Rs 1,00,000 <=SA <= Rs 2,00,000 | 5% | 10% | 15% |
| Rs 2,00,000 <=SA <= Rs 3,00,000 | 10% | 15% | 20% |
| Rs 3,00,000 <=SA <= Rs 5,00,000 | 15% | 20% | 25% |
| SA >= Rs 5,00,000 | 15% | 25% | 30% |
Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity Proceeds are tax free under section 10(10)D subject to fulfilment of terms and conditions.
How it works
In this plan, premium needs to be paid upfront under Single Premium Facility.
This is a unique Money Back Plan where there are Survival Benefits in this plan of 15% of Sum Assured every 3 years and on Policy Maturity the entire Single Premium Paid + Guaranteed One Time Addition would be paid as Maturity Benefit and the policy would be terminated. Guaranteed One Time Addition would be payable only if the Sum Assured is more than Rs 80,000 and depends on the Policy Tenure and Sum Assured.
However, if the Life Insured dies within the policy tenure, then the entire Sum Assured would be payable to the nominee, irrespective of the Survival Benefits already paid and the policy terminates.
Eligibility
| Minimum | Maximum | |
| Notional Cash Option (in Rs.) | 50,000 | No Limit |
| Deferment Period (in years) | 9,12 | 15 |
| Premium Payment Term (in years) | Single | |
| Entry Age of Policyholder (in years) | 9 | 60 |
| Age at Maturity (in years) | - | 70 |
| Payment modes | Only Single | |
FAQs
You stop paying the premiumIf the policy holder stops paying the premium, the policy lapses and all benefits cease
You want to surrender the policyThere are Surrender Benefits in this plan but after the completion of one year from the date of policy commencement. The surrender benefit payable will be higher of Special Surrender Value or Guaranteed Surrender Value.
Guaranteed Surrender Value= 80% of Single Premium - Extra Premium, if any and applicable taxes
Special Surrender Value = Cash Value of Maturity Benefit, i.e. Single Premium + Guaranteed One Time Addition, if any)
You want a loan against your policyLoan facility is available in this plan but after the completion of one year from the date of policy commencement upto 90% of Surrender Value.
