Children Endowment Money Back Term Assurance Pension Unit Link Group Insurance

The Plan
For life's many ups and downs, for children's education and marriages, providing for a family house, we bring you financial security against unfortunate death & living too long by creating an immediate asset, our endowment assurance policy 'Sahara Nidhi'.

This flexible plan is suitable for everyone having any financial responsibilities.
For "Safe" investors it is safety, security and tax benefits in one package here. Those who need to repay mortgage loans or want to accumulate funds for future investment opportunities and those who have small amounts to save find this as a one stop shop of financial instruments and convenient.

Plan Details

Minimum Issue Age  14 Years(Nearer birthday)
Maximum Issue Age  60 Years (Nearer birthday)
Minimum Sum Assured  Rs.50,000/
Minimum Benefit Term  10 Years
Maximum Benefit Term  50 Years
Premium Paying Term  Same as policy term
Maximum Coverage Age  70 Years

Grace period for non-forfeiture provisions
Grace period of 30 days irrespective of any calendar month will be allowed for payment of yearly, half yearly and quarterly premiums and 15 days in monthly mode of premiums. In case premium is not paid within the grace period and if death occurs within this period, the policy will be still valid and the sum assured shall be paid to the claimant after deduction of outstanding premiums falling due before the next policy anniversary.

What happens if the payment of premiums is discontinued?

  • If the premium have been paid for at least 3 years the policy acquires paid-up value which is reduced Sum Assured being in proportion to the premiums paid to premiums payable. The attached bonuses remain with the policy but it does not participate in future profits. 
Can the policy be surrendered?
Yes, after the policy has run and premiums have been paid for at least 3 years. Higher of Special surrender value and Guaranteed surrender value is payable, where
  • Guaranteed surrender value is equal to 30% of premiums paid (excluding the first year's premium, extra premiums and rider premiums, if any). Cash value of existing attached bonus will also be paid.
  • Basis for calculating Special surrender value shall be announced by the company from time to time.
Is loan available?
  • Yes, after the policy acquires surrender value i.e. policy has run and premiums have been paid for at least 3 years. 
To whom are the benefits payable during minority of the Life Assured?
  • If a claim arises during the minority of the Life Assured the payments are made to the Proposer of the policy and in his absence to the estate of the Proposer. 
  • On the life assured becoming major i.e. 18 yrs old, the policy automatically vests in him.
Insurance is a subject matter of solicitation. Sahara Insurance Co. Ltd.,
Sahar dia Bhawan, 1, Kapoorthala Compl iganj, Lucknow- 226 024. IRDA Regi tion No 127
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