Sahara Sugam Jeevan Bima Plan

Introduction/Overview
Sahara Sugam Jeevan Bima Plan is a Unit Linked Insurance Plan where the premium paid is invested in capital markets for maximum growth and it also provides insurance coverage for security

4.8^~ Rated
7.7 Crore Registered Consumer
50 Partners Insurance Partners
4.2 Crore Policies Sold

ULIP Plans

Plan starting from ₹1,000/month
Save upto ₹46,800 in Tax under section 80C^{^}
Zero LTCG Tax^¶
In built life cover

Top performing plans with High Returns^**

Invest ₹10K/month & Get ₹1 Crore^# on Maturity

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We are rated^~

7.7 Crore

Registered Consumer

Insurance Partners

4.2 Crore

Policies Sold

Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Key Features

It is a unit linked plan with Regular Pay option

The following 5 funds are available for investment:

Secured Fund
Balanced Fund
Smart Fund
Growth Fund
Prima Fund

Benefits

On Maturity, the Fund Value as on that date is paid to the policyholder
On death, higher of the Sum Assured net of any partial withdrawals made in the previous 2 years or the available Fund Value is payable to the nominee subject to a minimum of 105% of all premiums paid
Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Product Specification:

	Minimum	Maximum
Entry Age (Nearest Birthday)	10 years	55 years
Maturity Age (Nearest Birthday)	-	70 years
Policy Term (PT) in years	10, 15, 20
Premium Paying Term (PPT) in years	Equal to policy term
Premium Payment Frequency	Yearly
Yearly Premium	12,000	No limit
Sum Assured	10 * Annual Premium

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Details About Premium

Illustration for a policy of 15 years

Age	35 years
Premium	12,500
Sum Assured	125,000
Fund Value @ 6%	254,204
Fund Value @ 8%	358,022

Policy Details

Grace Period: grace period of 30 days is allowed for payment of premium beyond which the policy will lapse

Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 3.5% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges

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.

Inclusions

Unlimited Free partial withdrawals are allowed every year which should be a minimum of Rs.2500 and maximum of 50% of the Fund Value as on the date of withdrawal
2 free switches are allowed per policy year

Additional Features or Riders

Riders are not available under the plan

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Exclusions

The benefit paid in case of suicide within 12 months of policy inception is the fund value as on that date.

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.

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ