Sahara India Life Insurance Company has introduced for the benefit of its policyholders the scheme of collection of premiums through Electronic Clearing Scheme with the following features:-
The scheme is available for paying all modes of premiums i.e. monthly/quarterly/half yearly and yearly
The minimum amount of premium per month would be Rs. 500/- (Rupees Five Hundred Only)
Three monthly premiums will be collected at the time of proposal.
In case in any particular month the premium is not realized the bank charges debited by the bank along with two monthl;y premiums will be added in the next month of invoice, in case of monthly mode .In case of other modes it will be included in the next month billing with the bank charges.
Each proponent opting for ECS facility will be required to fill –up an ECS mandate with the proposal documents authorizing payment of premium by direct debit to his account. The existing policyholders, both traditional & unitlinked policies can enter the ECS scheme from June 2008 from the policy anniversary date by giving their consent two months prior to the date of the policy anniversary date.
The scheme will be available to only those proponent/policyholders who have bank account at the centres mentioned in the list given below:- LIST OF CENTRES WHERE ECS IS OPERATIONAL .