Sahara India Sanchit - Jeevan Bima Plan, Policy, Premium and Maturity Calculator

Sahara India Sanchit - Jeevan Bima Plan, Policy, Premium and Maturity Calculator - Sahara Sanchit Jeevan Bima Plan is a one -time pay Unit Linked Insurance Plan where the premium paid is invested in capital markets for maximum growth and it also provides insurance coverage for security.

Key Features - Sahara Sanchit - Jeevan Bima Plan and Policy

It is a unit linked plan with Single Pay option
The following 5 funds are available for investment:

Secured Fund
Balanced Fund
Smart Fund
Growth Fund
Prima Fund

Benefits - Sahara Sanchit - Jeevan Bima Plan and Policy

On Maturity, the Fund Value as on that date is paid to the policyholder
On death, higher of the Sum Assured net of any partial withdrawals made in the previous 2 years or the available Fund Value is payable to the nominee
Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Product Specification - Sahara Sanchit - Jeevan Bima Plan and Policy

	Minimum	Maximum
Entry Age (Nearest Birthday)	18 years	65 years
Maturity Age (Nearest Birthday)	-	75 years
Policy Term (PT) in years	5	10
Premium Paying Term (PPT) in years	Single Pay
Yearly Premium	30,000	No limit
Sum Assured	Single Pay – 1.25 * Single Premium for ages <=45 yrs. & 1.1* Single premium for ages >45 yrs.	No limit

Details About Premium - Sahara Sanchit - Jeevan Bima Plan and Policy

Illustration for a policy of 7 years

Age	35 years
Premium	40,000
Sum Assured	50,000
Fund Value @ 6%	50,449
Fund Value @ 8%	65,932

Policy Details - Sahara Sanchit - Jeevan Bima Plan and Policy

Grace Period: grace period is not applicable under the plan

Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 3.5% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges

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.

Inclusions - Sahara Sanchit - Jeevan Bima Plan and Policy

Unlimited Free partial withdrawals are allowed every year which should be a minimum of Rs.2500 and maximum of 50% of the Fund Value as on the date of withdrawal provided that the Fund Value shall not fall below Rs.30,000
2 free switches are allowed per policy year

Additional Features or Riders - Sahara Sanchit - Jeevan Bima Plan and Policy

Riders are not available under the plan

Exclusions - Sahara Sanchit - Jeevan Bima Plan and Policy

The benefit paid in case of suicide within 12 months of policy inception is the fund value as on that date.

Documents Required - Sahara Sanchit - 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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