Sahara India Dhanvarsha Jeevan Bima Plan, Policy, Premium and Maturity Calculator
Sahara India Dhanvarsha Jeevan Bima Plan, Policy, Premium and Maturity Calculator - Sahara Dhan Varsha Jeevan Bima Plan is a traditional non-participating Money-back Plan which provides periodical payouts to meet liquidity requirements and at the same time providing life insurance benefits.
Key Features - Sahara Dhanvarsha Jeevan Bima Plan and Policy
- It is a non-participating plan with Limited Premium payment option
Benefits - Sahara Dhanvarsha Jeevan Bima Plan and Policy
- On maturity, 30% of the Sum Assured is payable to the policyholder
- On death of the policyholder ,the full Sum Assured is paid to the nominee subject to a minimum of 105% of all premiums paid
- Survival benefits accrue in the 3rd, 6th, 9th and 12th policy year @ 10%, 15%, 20% and 25% respectively for a 15 year plan
- For a 20 year term, survival benefits accrue in the 4th, 8th, 12th and 16th policy year @ 10%, 15%, 20% and 25% respectively
- Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.
Product Specification - Sahara Dhanvarsha Jeevan Bima Plan and Policy
|
Minimum |
Maximum |
Entry Age (Nearest Birthday) |
15 years |
55 years |
Maturity Age (Nearest Birthday) |
- |
70 years |
Policy Term (PT) in years |
15 and 20 |
|
Premium Paying Term (PPT) in years |
10 and 15 respectively |
|
Premium Paying Frequency |
Yearly, half-yearly, quarterly, monthly |
|
Yearly Premium |
Depends on SA, age and term |
|
Sum Assured |
75,000 |
No limit |
Details About Premium - Sahara Dhanvarsha Jeevan Bima Plan and Policy
Annual premium in Rupees for a policy term of 15 years and PPT of 10 years
Age |
Premium |
Sum Assured |
Survival Benefits |
Maturity benefit |
35 years |
8503 |
100,000 |
10,000, 15,000, 20,000 and 25,000 in the 3rd, 6th, 9th, 12th year |
30,000 |
Policy Details - Sahara Dhanvarsha Jeevan Bima Plan and Policy
Grace Period: 15 days grace period is allowed for monthly modes and 30 days for other modes
Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 3 years. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.
GSV = 30% of premiums paid if surrendered in 3rd year
50% of premiums paid if surrendered in 4th to 7th year
50% and increasing by 6% or 4% if surrendered in 8th year and beyond for 15 or 20 year term respectively
All the values will include GSV of vested bonuses
SSV = 100% of paid-up value including vested bonuses
Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
Additional Features or Riders - Sahara Dhanvarsha Jeevan Bima Plan and Policy
- Rebates in premium for yearly and half-yearly mode of premium payment @ 3% and 1.5% respectively
Inclusions - Sahara Dhanvarsha Jeevan Bima Plan and Policy
- Loan facility is not available
Exclusions - Sahara Dhanvarsha Jeevan Bima Plan and Policy
- In case of suicide committed within 12 months of policy inception only 80% of premiums paid are returned to the nominee.
Documents Required - Sahara Dhanvarsha Jeevan Bima Plan and Policy
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.
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