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Sahara India Life Insurance Company

Sahara India Life Insurance Company Limited was established in the year 2004 and headquartered in Lucknow, Uttar Pradesh, India. Sahara India Life Insurance Co Ltd is the First Wholly Indian Private Life Insurance Company, without any foreign partnership to enter the Indian Life insurance market. Sahara India Life Insurance Company has been approved by Insurance Regulatory and Development Authority and was granted a License on 6th February 2004.

Sahara India Life Insurance Company

Sahara group was the second largest employer in India. The Chairman of the company is Shri Subrata Roy Sahara who is also the Chairman of Sahara India Pariwar. The company launched with an initial paid-up capital of 157 crores. Sahara India Life Insurance Company provides a wide range of insurance individual and Group products to meet the insurance requirements of people of all ages.

About Sahara India Life Insurance

Claim Settlement Ratio 97.18%
Inception 2004
Employees 1.2M
Branches 50
Death Benefit Paid For 585
Solvency Ratio 8.32

Sahara India Life Insurance Benefits

  • Affordable: Sahara India Life insurance provides life insurance plans at affordable rates
  • Flexibility: It offers flexibility to make the premium payments
  • Online plans: You can buy the life insurance policies online at your convenience.
  • Customer Service: This Company has an excellent team of customer service that offers good and hassle-free services.
  • Tax benefits: It offers tax benefits under Section 80C and 10(10D) of the Income Tax Act 1961.

Types of Sahara India Life Insurance Plans

Types of Life Insurance Plans Offered by Sahara India Life Insurance Company are

  • Sahara India Life Insurance Endowment Plans
  • Sahara India Life Insurance ULIP Plans
  • Sahara India Life Insurance Money Back Plans
  • Sahara India Life Insurance Group Plans
  • Sahara India Life Insurance Rider Plans

Sahara India Life Insurance Endowment Plans

i. Sahara Shrestha Nivesh-Jeevan Bima

Sahara Shrestha Nivesh-Jeevan Bima plan is a without profit single premium endowment plan which provides life cover and financial protection for you and your family. This Plan is specially designed for individuals with irregular income flow such as income from real estate etc.

Key Features:

  • This plan offers a refund on high sums assured
  • This plan is designed to meet the requirements of real investment and protection needs.
  • Entry Age: Minimum 9 Years, Maximum 60 Years
  • Maturity Age: Minimum 19 years, Maximum 70 years
  • Sum Assured: Minimum Rs.30000/-, Maximum Rs.1 crore
  • Premium Paying Term: Single pay
  • Policy Term: 5,10 years
  • Premium Payment Mode: Single
  • Tax Benefits: Get Tax Benefits under sections 80C and 10(10D) as per the income tax Act 1961

ii. Sahara Shubh Nivesh-Jeevan Bima

Sahara Shubh Nivesh-Jeevan Bima plan is a without profit single premium endowment plan which provides life cover and financial protection for you and your family. It suits those who have dreams like buying a house and children education, child marriage, etc.

Key Features:

  • This plan designed with benefits on maturity
  • Entry Age: Minimum 9 Years, Maximum 60 Years
  • Maturity Age: Maximum 70 years
  • Sum Assured: Minimum Rs.50000/-, Maximum No limit
  • Premium Paying Term: Single pay
  • Policy Term: 10 years
  • Premium Payment Mode: Single
  • Tax Benefits: Get tax saving option under sections 80C and 10(10D) as per the income tax Act 1961

iii. Sahara Dhan Sanchay Jeevan Bima

Sahara Dhan Sanchay Jeevan Bima plan is traditional money back participating endowment plan that offers a perfect blend of income and financial protection. This plan not only provides financial security but also realizes dreams by providing you with a steady income which gets included in your benefits and life cover for the term of the plan.

Key Features:

  • Entry Age: Minimum 14 Years, Maximum 50 Years
  • Maturity Age: Maximum 70 years
  • Sum Assured: Minimum Rs.50000/-, Maximum No limit
  • Policy Term: 15 to 40 years
  • Premium Paying Term: Same as Policy Term
  • Premium Payment Mode: Yearly, Half- Yearly, Quarterly, Monthly
  • Tax Benefits: Get Tax Benefits under sections 80C and 10(10D) as per the income tax Act 1961

Sahara India Life Insurance Money Back Plans

i. Sahara Pay Back Jeevan Bima

Sahara Pay Back Jeevan Bima plan is a Non-Linked, Limited premium, and Money-Back with Profit Endowment Plan. This plan offers the double benefit of guaranteed money back at regular intervals along with protection in case an unfortunate event happens to an insured.

Key Features:

  • This plan offers 3% and 1.5% of refunds for yearly and half-yearly modes of premium payments
  • Entry Age: Minimum 16 Years, Maximum 50 Years
  • Maturity Age: Maximum 70 years
  • Sum Assured: Minimum Rs.75000/-, Maximum Rs.1 Crore
  • Policy Term: 12, 16, 20 years
  • Premium Paying Term: 5, 10, 15 years
  • Premium Payment Mode: Yearly, Half- Yearly, Quarterly, Monthly
  • Tax Benefits: Get Tax Benefits under sections 80C and 10(10D) as per the income tax Act 1961

ii. Sahara Dhanviddhi Jeevan Bima

Sahara Dhanviddhi Jeevan Bima plan is a without profit single premium money back participating endowment plan that offers life cover up to maturity by having to pay premium only once. This plan not only provides financial security against unfortunate death but also returns of sum assured at regular intervals along with the return of premium at maturity coupled with guaranteed additions depending upon term and sum assured chosen.

Key Features:

  • Entry Age: Minimum 9 Years, Maximum 60 Years
  • Maturity Age: Maximum 70 years
  • Sum Assured: Minimum Rs.50000/-, Maximum Rs.1 Crore
  • Policy Term: 9, 12, 15 years
  • Premium Paying Term: Single pay
  • Tax Benefits: Get Tax Benefits under sections 80C and 10(10D) as per the income tax Act 1961

iii. Sahara Dhanvarsha Jeevan Bima

Sahara Dhanvarsha Jeevan Bima is a traditional limited premium money-back, non-participating endowment plan. This plan not only helps you in planning for future expenses but also protects your family from financial obligations in case of any unfortunate event of an insured.

Key Features:

  • Entry Age: Minimum 15 Years, Maximum 55 Years
  • Maturity Age: Maximum 70 years
  • Sum Assured: Minimum Rs.75000/-, Maximum No limit
  • Policy Term: 15 and 20 years
  • Premium Paying Term: 10, 15 years
  • Premium Payment Mode: Yearly, Half- Yearly, Quarterly, Monthly
  • This plan offers 3% and 1.5% of refunds for yearly and half-yearly modes of premium payments
  • Tax Benefits: Get Tax Benefits under sections 80C and 10(10D) as per the income tax Act 1961

Sahara India Life Insurance Unit Linked Insurance Plans

i. Sahara Sanchit Jeevan Bima

Sahara Sanchit Jeevan Bima Plan is a unique single premium unit linked plan that provides complete protection from the volatile equity market and insurance coverage along with investment options such as stocks, bonds, or mutual funds.

Key Features:

  • Entry Age: Minimum 18 Years, Maximum 65 Years
  • Maturity Age: Maximum 75 years
  • Sum Assured: Up to 45 years 125% of Single Premium and Above 46 years 110% of Single Premium
  • Policy Term: 5 to 10 years
  • Premium Paying Term: Single Pay
  • Premium: Minimum Rs.30000/- and Maximum No limit
  • Tax Benefits: Get Tax Benefits under sections 80C and 10(10D) as per the income tax Act 1961

ii. Sahara Utkarsh Jeevan Bima

Sahara Utkarsh Jeevan Bima Plan is a unique blend of risk coverage unit-linked insurance plans that offer higher returns over the term of the policy. This plan is suitable for exclusive customers with higher risk appetites and an enhanced sum assured amount.

Key Features:

  • Entry Age: Minimum 12 Years, Maximum 55 Years
  • Maturity Age: Maximum 70 years
  • Sum Assured: Up to 45 years 125% of Single Premium and Above 46 years 110% of Single Premium
  • Policy Term: 8 to 20 years
  • Premium Paying Term: Single Pay, Regular Pay
  • Premium: Minimum Rs.50000/- (For single pay) and Minimum Rs.20000/- (For regular pay), Maximum No limit
  • Tax Benefits: Get Tax Benefits under sections 80C and 10(10D) as per the income tax Act 1961

iii. Sahara Sugam Jeevan Bima

Sahara Sugam Jeevan Bima plan is a unit-linked insurance plan that offers a unique blend of risk coverage and market-linked returns and simple documentation and a hassle-free enrolment procedure.

Key Features:

  • Entry Age: Minimum 10 Years, Maximum 55 Years
  • Maturity Age: Maximum 70 years
  • Sum Assured: 10 times of Annualized Premium
  • Policy Term: 10, 15, 20 years
  • Premium Paying Term: Same as policy term
  • Premium: Minimum Rs.12000/- to Maximum No limit
  • Tax Benefits: Get Tax Benefits under sections 80C and 10(10D) as per the income tax Act 1961

Sahara India Life Insurance Group Plans

i. Sahara Samooh Suraksha

Sahara Samooh Suraksha Plan is a group plan which provides the term insurance cover along with the benefit of market appreciation on the savings portion of the premium. This plan is applicable for groups where at least 75% of existing employees have a minimum of 25 eligible members who are ready to join the plan.

Key Features:

  • Entry Age: Minimum 18 Years, Maximum 64 Years
  • Maturity Age: Maximum 65 years
  • Sum Assured: Minimum Rs.50,000/- to Maximum Rs.5,00,000/-
  • Monthly Contribution: Minimum Rs.5000/-
  • Group Size: 50 Members
  • Tax Benefits: Get Tax Benefits under sections 80C and 10(10D) as per the income tax Act 1961

Sahara India Life Insurance Rider Plans

i. Sahara Accidental Death Benefit Rider

Sahara Accidental Death Benefit Rider plan is a Non-Linked Accidental Death Benefit Rider Group Plan that gives financial protection to your family in case an unexpected event happens to the insured. This rider provides additional coverage to an insured if death is caused by external, violent, and accidental.

Key Features:

  • Entry Age: Minimum 18 Years, Maximum 60 Years
  • Maturity Age: Maximum 65 years
  • Sum Assured: Minimum Rs.50,000/- to Maximum Rs.20,00,000/-
  • Premium Paying Term: Single pay, regular pay
  • Tax Benefits: Get Tax Benefits under sections 80C and 10(10D) as per the income tax Act 1961

How to Buy Sahara India Life Insurance

The process of buying a Sahara India life insurance policy online has become simple with PolicyBachat. All you need to do is fill out an application form and then make a payment for the premium. The entire process takes less than 15 minutes.

PolicyBachat offers an online tool Premium Calculator to calculate the premium of your insurance plan. You can calculate the amount of premium payable by entering a few details such as mobile number, name, date of birth, email address, occupation, type of policy, sum assured, gender, state, etc.

The premium paid by the customer is depending on many factors. The Factors affecting the premium are the age of the policyholder, type of policy, sum assured required, etc. The premium calculator tool will reflect the estimated premium amount that the policyholder will have to pay for the cover he/she requires based on these factors. Once you provide all the relevant details and then click on the submit tab, you will receive details regarding your monthly premium.

Following steps to purchase the Sahara India life insurance policy online

  • Step 1: Visit PolicyBachat official website and then enter the details such as Gender, Annual income from all the sources, Alcohol consumption and tobacco consumption, type of occupation, salary, and Date of Birth. After this, you need to enter your contact details to facilitate a call from our agent.
  • Step 2: Now the premium from different insurance companies will be displayed on the screen. You can edit the details such as Coverage, Term, Premium payment method, Mode of claim settlement, etc. Submit the details to get the desired premium. The premium can be changed by changing other factors such as Coverage required, mode of payment, etc.
  • Step 3: The next step is to select the best Sahara India life insurance policy and then you can calculate your premiums using the Sahara India life insurance premium calculator. You can change your premium by adding riders you want.  After deciding on the premium, you can purchase a policy from PolicyBachat directly.

Sahara India Life Insurance Claim Process

Step 1: Claim Intimation:

  • In the case of Maturity claims, a policyholder should inform the insurance company regarding the maturity of the policy or survival of the policyholder.
  • In case of Death claims, the nominee of the policyholder or the immediate family members can lodge a claim with the insurance company.

The claim intimation can be done online or offline which should contain basic information such as the Name of the Policyholder, Policy number, Date of Maturity, etc. In case of offline intimation, the claim form can be availed from the nearest life insurance branch and duly filled out before submission.

Step 2: Submission of Documents:

Once the claim intimation is done and the claim intimation number is obtained, the next step is to provide all the relevant documents to the insurance company. It is advisable to submit all the documents in one go to avoid to and fro communication with the insurance company.

Step 3: Claim Settlement:

As per regulation 8 of the IRDA (Policyholder’s Interest) Regulations, 2002, the insurer is required to settle a claim within 30 days of receipt of all the required documents. If the claim is an early claim (a claim which occurred within 3 years from the date of policy start date) then there would be further investigation by the insurer. This procedure has to be completed within six months from the date of receiving written intimation of the claim. After receiving all the documents the claim is processed and the insurance company releases the funds into the account mentioned in the claim intimation form.

Documents Required to Claim Sahara India Life Insurance

Claim Type Documents Required
Death Benefit Claim
  • Original Policy Documents
  • Duly Filled Claim Form
  • ID Proof
  • Death Certificate
  • Address Proof
  • Medical Records
  • Medical Attendance Report
  • Post Mortem Report/FIR/Punchana
  • Bank Account Details
Maturity Benefit Claim
  • Original Policy Documents
  • Maturity claim form
  • Duly Filled Claim Form
  • ID Proof
  • Bank Account Details
  • Contact Details
  • Pan card

List of Life Insurance Companies:

Sahara India Life Insurance FAQs

How to do Sahara India Life Insurance Policy Document Download?

For downloading the Sahara India life insurance policy document login to the website by entering required details such as Policy Number, Name, Phone number, etc. Go to Policy Document download options as Premium Receipt, Premium Notice, Unit Statement, Premium Paid Certificate, and GST Invoice. Select which policy document to download and print.

How to Compare Sahara India Term Plan Premium Calculator Online?

You can compare Sahara India's term plan with other top leading insurers online using the premium calculator on our portal. The term plan premium calculator offers a premium, that you should be paid out based on the sum assured from your policy. It helps you obtain premium quotes in minutes without any documentation.

  • Enter personal information such as name, gender, date of birth, yearly income, city, mobile number, and tobacco consumer or not, etc.
  • The sum assured you wish your family/beneficiary to receive from your policy and Maturity coverage
  • The premium calculator will recommend plans with different premium rates for you in accordance with the details you have provided.
  • Once you have evaluated what plan is right for you, you can proceed to purchase it online without any delay.

How to Pay Sahara India Life Insurance Online Payment?

The process of paying Sahara India life insurance online premium payment is simple and easy. All you need to do is follow the below steps

  • Step 1: Visit the official website of Sahara India Life Insurance Company.
  • Step 2: Click on Pay Premium Option
  • Step 3: Pay your premiums Yearly, Half-Yearly, Quarterly, and Monthly as per your convenience.

How to Calculate Surrender Value of Sahara India Life Insurance Policy?

The surrender value of Sahara India Life insurance policy is calculated as a Single premium multiplied by 75% of the outstanding term to maturity/ total term. In case of increasing term assurance, the surrender value is calculated as a Single premium multiplied by 80% of the outstanding term to maturity/ total term again multiplied by the average of effective sum assured at surrender and effective sum assured at the time of maturity/ Average of initial sum assured and effective sum assured at maturity.

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