Sahara Dhan vriddhi Jeevan Bima Plan

Key Features

• It is a non-participating plan with Single Premium payment option
• The premium paid and Guaranteed Addition is paid on maturity

Benefits

• On maturity, the single premium is paid along with a one- time Guaranteed Addition
• The Guaranteed Addition is expressed as a % of Single Premium and depends on the term and the amount of cover chosen
• On death of the policyholder ,125% of the Single Premium is paid if age is less than 45 years or 110% of the Single Premium is paid for ages 45 years and above
• Survival benefits @ 15% of the Sum Assured is paid from the end of the 3^rd year and every 3 years thereof
• Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.

Product Specification:

Details About Premium

Annual premium in Rupees for a policy term of 9 years

Policy Details

Grace Period: grace period is not applicable

Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy anytime. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.

GSV = GSV % of Single Premium paid net of Survival Benefits already paid

Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Additional Features or Riders

• The rate of Guaranteed Addition can go as high as 20% of the Single Premium

Inclusions

• Loan facility is not available

Exclusions

• In case of suicide committed within 12 months of policy inception only 80% of premiums paid are returned to the nominee.

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.