Sahara Life India Life Insurance : Traditional life insurance plan for children

Sahara India Life Insurance Co. Ltd., the life insurance company of Sahara India Pariwar &  the first wholly owned Indian life Insurance company in India, has launched a traditional Plan, ‘Sahara Vatsalya Jeevan Bima’, which is aimed at meeting the education requirements of the children of the policyholder.


Highlights of Sahara Vatsalya Jeevan Bima..!

# The new plan is a regular premium plan for parents aged between 20 years to 50 years, for the benefit of their children who fall within the age group of 0 to 12 years.

# As per the policy, once the child (nominee) attains the age of 19 years, the policyholder shall receive an education benefit in the form of 4 annual installments at the rate 20%, 25%, 25% &  30% of sum assured payable at the end of each of last four policy anniversaries, respectively. T

# The policy will mature when the child attains the age of 22 years & at that time, all vested bonuses shall be paid along with the last installment. In case of unfortunate death of the parent (life assured), the sum assured along with the vested bonus shall be paid immediately to the nominee. The future premiums will no longer be payable by the nominee under the policy. Instead, from the next policy year after death of life assured, each annual installment of 10% of sum assured shall be paid to the appointee of the nominee every year, till the child attains the age of 18 years. Further, an ‘Education Benefit’ in the form of four annual installments  at the rate 20%, 25%, 25% & 30% of sum assured will be payable at the end of each of last four policy anniversaries, respectively.

#  Accidental benefit and permanent disability benefit rider is also available under the plan. The rider can be added by paying an additional nominal premium. The premiums paid under the policy are eligible for Indian Income Tax benefits under section 80 C of the Income Tax Act, 1961.

About Sahara India Life Insurance..!Sahara India Life Insurance Co. Ltd. (SILICL) is the first wholly Indian-owned Life Insurance Company in the private sector. Launched October 2004 after being granted license to operate as a life insurer in India by Insurance Regulatory and Development Authority (IRDA) onFebruary 2004, the company today offers an exhaustive range of competitive products including Unit Linked Plans, Pension Plans, Children Plans, Money Back Plans, Endowment Plans, Term Assurance Plans and Group Insurance Plans, that cater to individuals of all ages and segments along with prompt and quality customer services and support.

For Further Information..!Mr.Ghulam Zeeshan, Asst. Chief Manager, Corporate Communications, Sahara India Pariwar
Ph.: 0522 2304230; Mobile: +91 93352 35621
E-Mail: ghulam.zeeshan@gmail.com
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