Children Endowment Money Back Term Assurance Pension Unit Link Group Insurance

The Plan

For life’s many ups and downs, for education and marriages of beloved children, providing for a family house, we bring you financial security against unfortunate death & living too long by creating an immediate asset – Our Money Back PolicySahara Samriddhi.

This policy returns your money at regular intervals for your recurring financial requirements. This policy is available for terms 15 and 20 years only. This plan is suitable for "Safe" investors who get safety, returns & tax benefits in one package here. It is also suitable for those who want to accumulate funds for future investment opportunities.

Plan details

Minimum Issue Age  15 Years(last birthday) 
Maximum Issue Age  60 (nearer birthday) years
for 15 year term
55 ( nearer birthday) years
for 20 year term 
Minimum Sum Assured  Rs. 100,000/-
Maximum Sum Assured None, subject to underwriting
Policy Terms  15 & 20 years 
Premium Paying Term  Same as policy term 
Maximum Maturity Age 75 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 are the modes available for payment of premium?
Yearly, Half-yearly, Quarterly, Monthly (direct debit and group billing only)

What are the 'premium payment mode' charges?
Annual mode Nil
Half Yearly mode addition of 1.5%
Quarterly mode addition of 3%
Monthly mode addition of 3%

What happens if the payment of premiums is discontinued?
  • If the premiums have been paid for at least 3 years the policy acquires paid-up value which is reduced Sum Assured in proportion to the premiums paid to premiums payable less survival benefits already paid. The attached bonuses remain with the policy but the policy does not participate in future profits.
What are the provisions of revival of a lapsed policy?
A lapsed policy can be revived during the life time of the life assured but before 5 years from the date of first unpaid premium on payment of all arrears of premium together with interest at such rate as may be decided by the Company from time to time and submission of proof of continued insurability to the satisfaction of the Company. However the Company reserves the right to accept or decline the revival of lapsed policy. The revival of a lapsed policy shall take effect only after its approval is specifically communicated to the policyholder.

What is the suicide provision ?
Policy shall be void and all monies paid under the policy shall be forfeited to the Company and nothing shall be payable except to the extent of a third party bonafide interest acquired in the policy for valuable consideration, notice of which has been given at least one month prior to the death in case life assured commits suicide (whether sane or insane at the time) at any time on or after the date on which the risk under the policy has commenced but before the expiry of one year from the date of this policy.

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). In case any survival benefit has been paid or has become payable, the premiums paid prior to the due date of last survival benefit paid or payable shall be excluded while calculating surrender value.

  • Basis for calculating Special surrender value shall be announced by the company from time to time.
Is loan available?
  • No loan is available under the policy.
Riders available under the plan
  • Accident Benefit & Accidental Total & Permanent Disability Benefit Rider
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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