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Sahara Sampann Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

 

Sahara Sampann Plan
 
Sahara Sampann Plan is a Regular Premium Participating Money Back Plan. It is a Traditional Plan with Bonus facility.
 
How it works – In this plan, premium needs to be paid till the end of the Policy Tenure as selected at policy inception.
 
In this plan, 20-30% of the Sum Assured is paid as Money Back after every 4 policy years and the remaining Sum Assured along with attached Bonus and Terminal Bonus is paid on Policy Maturity and the policy terminates.
 
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. The Life Coverage enhances by 50% every 5 years such that it doubles in 10 years’ time.
 
There is one additional rider in this plan.
 
 
Key Features of Sahara Sampann Policy
 
  • It is a Regular Premium Money Back Plan
  • There is Bonus component in this plan which is paid on policy maturity or on earlier death
  • In this plan, Survival Benefits of 20-30% of the Sum Assured is paid at every 4 years
  • On Policy Maturity, the remaining Sum Assured + attached Bonus + Terminal Bonus would be paid as Maturity Benefit
  • 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
  • The Sum Assured coverage enhances by 50% after every 5 years such that it doubles if the Life Insured is alive for at least 10 years from policy commencement
  • There is 1 additional rider in this plan

COMPARE THIS PLAN WITH OTHER MONEY BACK PLANS
 
 
Benefits you get from Sahara Sampann Insurance Policy
 
Death Benefit – 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
-
250% of Sum Assured
 
 
Survival Benefit – 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
 
 
Maturity Benefit – 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.
 
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 & other restrictions in Sahara Sampann Insurance Plan
 

 

 
Minimum
Maximum
Sum Assured (in Rs.)
50,000
No Limit
Policy Term (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
 
                                               
Additional Features and Benefits of Sahara Sampann Plan
 
Riders – There is 1 additional rider in this plan:
  1. Accident Benefit & Accidental Total & Permanent Disability Benefit Rider- Additional premium payable only Re.1 per 1000 Sum Assured
 
 
What happens if?
 
You stop paying the premium - If the policy holder stops paying the premium, the policy lapses and all benefits cease
 
You want to surrender the policy – There 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 policy – Loan facility is not available in this plan.

 
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