Sahara Sampann Plan
Sahara Sampann Plan is a Regular Premium Participating Money Back Plan. It is a Traditional Plan with Bonus facility.
Key Features
There is 1 additional rider in this plan:
- Accident Benefit & Accidental Total & Permanent Disability Benefit Rider - Additional premium payable only Re.1 per 1000 Sum Assured
Benefits
In case of death of the Life Insured within the Policy Tenure, the nominee gets a minimum of 100% of the Sum Assured + all attached Bonuses as Death Benefit, irrespective of the Survival Benefits already paid and the policy terminates.
There is an enhanced coverage after 5 policy years
| Policy Duration | 15 Years Policy | 20 Years Policy |
|
Up to 5 years
|
100% of Sum Assured
|
100% of Sum Assured |
|
Above 5 years, up to 10 years
|
150% of Sum Assured
|
150% of Sum Assured |
|
Above 10 years, up to 15 years
|
200% of Sum Assured
|
200% of Sum Assured |
|
Above 15 years, up to 20 years
|
- | 25% of Sum Assured |
Being a Money Back Plan, 20 to 30% of the Sum Assured is paid out at the end of every 4 policy years
| Payment | 15 Years Policy | 20 Years Policy |
|
At the end of 4th Year
|
20% of Sum Assured | 20% of Sum Assured |
|
At the end of 8th Year
|
20% of Sum Assured | 20% of Sum Assured |
|
At the end of 12th Year
|
30% of Sum Assured | 20% of Sum Assured |
|
At the end of 16th Year
|
- | 20% of Sum Assured |
On survival till the end of the policy tenure, the policyholder gets the remaining Sum Assured + attached Bonus + Terminal Bonus 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
Eligibility
| Minimum | Maximum | |
| Notional Cash Option (in Rs.) | 50,000 | No Limit |
| Deferment Period (in years) | 15 | 20 |
| Premium Payment Term (in years) | Equal to Policy Tenure | |
| Entry Age of Life Insured (in years) | 14 |
55 for 15 years policy
50 for 20 years policy
|
| Age at Maturity (in years) | - | 70 |
| Payment modes |
Yearly, Half-Yearly, Quarterly and Monthly
|
|
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 = 30% of total Premium paid – 1st year’s premium
Basis for calculation of Special Surrender Value would be declared by the company from time to time
You want a loan against your policyLoan facility is not available in this plan.
