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Sahara Nivesh Plan
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This plan has been withdrawn by the insurance company and is no longer available for sale.
Sahara Nivesh Plan
Sahara Nivesh Jeevan Bima is a Non-Participating Single Premium Endowment Plan. It is a Traditional Plan without Bonus facility.
How it works – In this plan, premium needs to be paid upfront under single premium payment facility. There is no bonus facility in this plan
In this plan, a fixed amount of Sum Assured would be payable at the end of the policy tenure to the policyholder if the Life Insured survives the entire policy tenure. However, on earlier death, the same would be payable to the nominee as Death Benefit and the policy terminates.
There are surrender benefits in this plan after completion of 6 months and no riders available.
Key Features of Sahara Nivesh Insurance Plan
This is a Single Premium Endowment Plan
This plan has no Bonus Facility
There is rebate on higher Sum Assured in this plan
There are surrender benefits in this plan after completion of 6 months
Sum Assured would be payable on policy maturity or on earlier death of the Life Insured
This plan has a fixed tenure of 10 years
COMPARE THIS PLAN WITH OTHER ENDOWMENT PLANS
Benefits you get from Sahara Nivesh Insurance Policy
Death Benefit – In case of death of the Life Insured within the Policy Tenure, the nominee gets the Sum Assured as immediate Death Benefit and the policy terminates.
Maturity Benefit – On survival till the end of the policy tenure, the policyholder gets the Sum Assured as Maturity Benefit and the policy terminates.
Income Tax Benefit - 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.
Eligibility conditions and other restrictions in Sahara Nivesh Plan
Minimum
Maximum
Sum Assured (in Rs.)
50,000
No Limit
Policy Term (in years)
10
Premium Payment Term (in years)
Single
Entry Age of Life Insured (in years)
9
60
Age at Maturity (in years)
-
70
Payment modes
Only Single
Additional Features and Benefits of Sahara Nivesh Jeevan Bima
Riders – There are no additional riders in this plan.
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What happens if?
You stop paying the premium – Being a single premium plan there is no further requirement of premium payment.
You want to surrender the policy – There are Surrender Benefits in this plan after completion of 6 months. The Surrender Value would be the higher of Special Surrender Value or Guaranteed Surrender Value. The Minimum Guaranteed Surrender Value is 80% of Single Premium paid.
You want a loan against your policy – Loan facility is available in this place.
