Sahara India Utkarsh - Jeevan BimaPlan, Policy, Premium and Maturity Calculator
Sahara India Utkarsh - Jeevan BimaPlan, Policy, Premium and Maturity Calculator - Sahara Utkarsh Jeevan Bima Plan is a Unit Linked Insurance Plan which helps the policyholder to enjoy market returns and at the same time avail insurance coverage.
Key Features - Sahara Utkarsh - Jeevan Bima Plan and Policy
- It is a unit linked plan with Single Pay or Regular Pay premium payment option
- Plan can be customized with additional rider
- The following 5 funds are available for investment:
- Secured Fund
- Balanced Fund
- Smart Fund
- Growth Fund
- Prima Fund
Benefits - Sahara Utkarsh - Jeevan Bima Plan and Policy
- The insured will get the total Fund Value on Maturity
- On death, the Sum Assured plus Fund Value will be payable subject to a minimum of 105% of all premiums paid
- 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 Utkarsh - Jeevan Bima Plan and Policy
|
Minimum |
Maximum |
Entry Age (Nearest Birthday) |
12 years |
55 years |
Maturity Age (Nearest Birthday) |
- |
70 years |
Policy Term (PT) in years |
8 |
20 |
Premium Paying Term (PPT) in years |
Single Pay or equal to policy term |
|
Premium Paying Frequency |
Yearly, half-yearly |
|
Yearly Premium |
50,000 for Single Pay 20,000 for Regular Pay |
No limit |
Sum Assured |
Single Pay – 1.25 * Single Premium for ages <=45 yrs. & 1.1* Single premium for ages >45 yrs. Regular Pay – 10*annual Premium for ages<=45 years & 7*annual Premium for ages >45 years |
No limit |
Details About Premium - Sahara Utkarsh - Jeevan Bima Plan and Policy
Illustration for a policy term and PPT of 15 years
Age |
35 years |
Premium |
26,000 |
Sum Assured |
260,000 |
Fund Value @ 6% |
524,814 |
Fund Value @ 10% |
739,752 |
Policy Details - Sahara Utkarsh - Jeevan Bima Plan and Policy
Grace Period: grace period of 30 days is allowed 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 Utkarsh - 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
- 2 free switches are allowed per policy year
Additional Features or Riders - Sahara Utkarsh - Jeevan Bima Plan and Policy
-
Accident Benefit & Accidental Total & Permanent Disability Benefit Rider is available under the plan with a minimum coverage of Rs.50,000 and maximum coverage equal to SA or 20 lakhs whichever is lower
Exclusions - Sahara Utkarsh - 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.
-
For the rider, accidents or disability due to infection, drug abuse, self-inflicted injury, war or civil commotion, criminal acts, aviation, engaging in hazardous activities etc. are excluded
Documents Required - Sahara Utkarsh - 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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