Sahara Nivesh Plan
Sahara Nivesh Jeevan Bima is a Non-Participating Single Premium Endowment Plan. It is a Traditional Plan without Bonus facility.
There are no additional riders in this plan.
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.
On survival till the end of the policy tenure, the policyholder gets the Sum Assured as Maturity Benefit and the policy terminates.
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 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.
|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||-||75|
Yearly, Half-Yearly, Quarterly and Monthly
Being a single premium plan there is no further requirement of premium payment.
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.
Loan facility is available in this place.