Sahara Life Insurance

Instituted in 2004, Sahara India Life Insurance is India’s first fully owned private life insurance company. With a significant presence in most sections of the country, the company assists all segments of society- the privileged, middle class and the poor. Sahara India Life Insurance provides a wide range of products such as Unit Linked Plans, Money Back Plans, Endowment Plans, Term Assurance Plans and Group Insurance Plans which cater to the insurance of all the segments of the society.

Highlights of Sahara Life Insurance

Since it is one of India’s earliest wholly-owned private life insurance provider, Sahara Life Insurance Company is considered to be one of the trusted insurance companies in the country. It specializes in life insurance products and is considered to be the go-to option for acquiring insurance due to the following factors:

• Claim settlement ratio

• A large number of grievances resolved.

In 2014-2015, the company boasted of a claim settlement ratio of around 90%, at the same time, ensured to settle 100% of the grievances of its customers, making this company one of the most customer-friendly and responsible insurance company to be insured from.

Different Kinds of Life Insurance Policies Offered By Sahara Life

Sahara Life Insurance extends a range of life insurance plans which have been furnished to offer tailor-made life insurance solutions to individuals and groups. Below listed are the life insurance plans offered by Sahara.

Sahara Life Insurance Endowment Plans

Endowment plans are meant to endow policy owners with the opportunity to use the instruments of life insurance as an investment. The plans which are offered under this scheme are:

Sahara Shrestha Nivesh-Jeevan Bima

This endowment plan has been designed especially to cater to people who have uncertain or highly fluctuating income. It offers an option of single premium payment to the policyholders to secure the future of their family financially.

Sahara Shubh Nivesh-Jeevan Bima

This is a single premium endowment plan which provides a minimum assured sum of 50,000. There is no maximum limit on the assured sum. This plan is meant for the people who intend to purchase a house or pay massive amounts towards education in the future.

Sahara Dhan Sanchay Jeevan Bima

This is a conventional participating endowment plan which provides policyholders the dual advantages of income and protection. The plan provides life insurance coverage as well as regular income which can help the dependents in fulfilling their financial obligations.

Plan	Basic Sum Assured	Tenure (Policy Term)
Sahara Shrestha Nivesh	Min – Rs. 30,000 Max – Rs. 1 Crore; subject to underwriting	5 to 10 years (subject to a min. maturity age of 19 years nearer birthday)
Sahara Shubh Nivesh	Min – Rs. 50,000 Max – No limit; subject to underwriting	10 years (fixed)
Sahara Dhan Sanchay	Min – Rs. 50,000 Max – No limit; subject to underwriting	Min – 15 years Max – 40 years (subject to max maturity age of 70 years

Sahara Life Insurance Money Back Plans

Sahara Pay Back

This is a non-linked, bounded premium money-back participating endowment plan which can help you in managing your expenses so that you have emergency funds that could help your family during financial crisis.

Sahara Dhanvriddhi

This is a single-premium money-back endowment plan that needs only a one-time premium payment and provides life cover until maturity along with financial security at times of unpredictable events.

Sahara Dhanvarsha

This is a conventional limited premium money-back non-participating endowment plan that provides dual benefits of protection against unpredictable emergencies and guaranteed money-back at specified intervals.

Plan	Basic Sum Assured	Tenure (Policy Term)
Sahara Pay Back	Min – Rs. 75,000 Max – Rs. 1 Crore; subject to underwriting	Fixed for 12 years, 16 years and 20 years
Sahara Dhanvriddhi	Min – Rs. 50,000 Max – Rs. 1 crore; subject to underwriting	9 years / 12 years / 15 years (subject to max maturity age not exceeding 70 years)
Sahara Dhanvarsha	Min – Rs. 75,000 Max – No limit; subject to underwriting	Fixed for 15 years and 20 years (subject to max maturity age not exceeding 70 years)

Sahara Unit Linked Plans

ULIPs use a portion of the premium to provide insurance cover and the other portion to invest in the share markets. Plans that are offered by the company are:

Sahara sanchit - Jeevan Bima

This is a single premium, ULIP which provides risk-coverage and an opportunity to accumulate more wealth. This policy is taken for 5-10 years and the total sum assured could range from 110%-125% of the total premium paid.

Sahara Utkarsh - Jeevan Bima

This is a ULIP which can be taken for a tenure ranging from 8-20 years with the sum assured ranging from 110%-125% of the total premium paid. The premiums could be either paid in lump sum or they can be distributed through the tenure

Sahara Sugam Jeevan Bima

Plan	Basic Sum Assured	Tenure (Policy Term)
Sahara Sanchit	Up to 45 years – 125% of single premium; 46 years & above – 110% of single premium	5 to 10 years
Sahara Utkarsh	Up to 45 years – 125% of single premium or 10 times of annualized premium (regular premium). 46 years & above - 110% of single premium or 7 times of annualized premium (regular premium).	8 to 20 years
Sahara Sugam	10 times of Annualized Premium	10, 15 or 20 years

Sahara Life Insurance Group Plans

Group insurance plans are usually directed at groups of people or companies who wish to provide an insurance cover to their employees. The different types of plans offered by them as group insurance plans are:

Sahara Samooh Suraksha

Any group of individuals who wish to provide insurance benefits to the members or a company that wishes to provide insurance benefits to its employees. This policy can provide an insurance cover ranging from 50000 to 500000 for each member of the group.

Sahara Jamakarta Samooh Bima

This is a group term-insurance plan that is targeted at people who are unable to avail individual life insurance covers due to being financially incapable. This scheme provides the group members with term Insurance benefits that are payable to the nominees if the insured person passes away.

Plan	Basic Sum Assured (per member)	Tenure (Policy Term)
Sahara Samooh Suraksha	Min – Rs. 50,000; Max – Rs. 5,00,000	-

Documents Required for Buying Sahara Life Insurance

To buy a Sahara Life Insurance product, you will be required to submit some documents such as your identity proof, age proof, proof of income, address proof and an attested copy of your PAN Card.

Sahara Life Insurance Claim Settlement Ratio

Year	Claim Ratio
2016 - 2017	90.21%
2015 - 2016	90.30%
2014 - 2015	89.97%
2013 - 2014	90.19%

Eligibility For Sahara Life Insurance Plans

To apply for any life insurance plans, the applicants need to comply with the eligibility criteria which has been laid down for every plan. Owing to the distinct features of each plan, the eligibility criteria for every life insurance plan is different, as illustrated in the table given below:

How You Can Check Sahara Life Insurance Policy Status

You can easily check the status of your Sahara Life Insurance policy status by visiting the official website of Sahara. For checking the policy details and status, you'll be required to give policy related information such as the policy number, name and your date of birth. After all the details have been verified, the details and status of the policy will show on the screen

Premium Payment For Sahara Life Insurance

For extra convenience, the customers can pay their premiums through online as well as offline modes. They can pay the premium through cheques, cash and Electronic Clearing Scheme.

Sahara Life Insurance Premium Calculator

If you want to find out the total premium amount payable for any life insurance policy provided by Sahara, you can easily do so through the premium calculator. For estimating this amount, you will be needed to give specific details such as the tenure of the plan, age, sum assured. After all this information has been provided, your premium amount will be calculated.

Sahara Life Insurance Customer Care

Sahara Life Insurance was established with the aim of offering efficient and affordable insurance solutions to people. In addition to the well-appointed life insurance solutions, Sahara also provides excellent customer care support. It has set up  a customer care section which deals with resolving customer queries. They also have a toll-free helpline number which can be contacted to inform the company regarding any dilemma. Moreover, the insurer has also set local corporate offices across the country where the customers can visit to register their feedback, concerns, comments or grievances related to Sahara Life Insurance policy.

Sahara Life Insurance FAQs

What are the modes of premium payment available?

You can make the payments on a Yearly, Half-Yearly, Quarterly or Monthly basis through group billing and direct debit only.

What are the possible rebates available under the life insurance policy?

You can avail a rebate for Yearly & Half-Yearly mode of premium payments at 1.5% and 3% respectively. To learn more about the rebates applicable to your policy, you can go through the policy document.

If I pay the premiums via cheques, in whose favor should I draw them?

If you are paying your premiums through cheques, you can draw them the favor of Sahara India Life Insurance Company Ltd., payable at any of the branches.

What Can I do if I want to make premium payments in cash?

All cash payments must be made at any of Sahara Life Insurance Branches.

Where can I find Sahara’s insurance agents and how can I contact them?

You can visit the official website to acquire the list of all the insurance agents throughout the country. All details needed including the location and state are given on the website. The list is mostly centered in the Northern regions of India.

Where can I find direct agents and how should I contact them?

• You can visit the website to get the official list of Sahara’s corporate agents along with the code for the state in the list.

• In the PDF, press Ctrl and F and type out the name of the agent you're looking for and click on search.

• After you have the code, you can contact Sahara Life insurance and give the code to get the details.

What is the claim settlement ratio of Sahara Life Insurance Company

According to the IRDAI report for 2017, the Claim-settlement for Sahara Life insurance 90.71%

Can I apply for life insurance from Sahara if I'm a student?

Yes, the minimum age requirement for applying for a Sahara Life insurance policy is 18 years.

I am 52 years old and haven't retired yet, can I apply for a life insurance policy?

Unfortunately, Sahara provides life insurance policies for individuals under 50 years old, so you can't apply.

What is the documentation which I need to provide to apply for a Sahara life insurance policy?

You need to have the following documents while applying for a Sahara Life Insurance policy:

• Identity proof

• Address Proof

• Copy of PAN Card

What is the address of the head office of Sahara Life Insurance Company?

The head office address of the Sahara Life Insurance Company is located in:

Sahara India Centre,

2, Kapoorthala Complex,

Lucknow-226024.