Sahara Shrestha Nivesh Jeevan Bima Plan

Death Benefit

On the unfortunate demise of the life insured during the policy term, the death benefit equal to the sum assured is payable immediately. Sum Assured should never be less than 125% of the single premium when age at entry is less than 45 years. It is 110% of the single premium when age at entry is equal to or more than 45 years.

Maturity Benefit

On survival of the life insured till completion of the policy term, the maturity benefit equal to the sum assured is payable.

Bonus

No bonuses are payable, as it is a non-participating insurance plan.

Loan Benefit

You can avail loan amount up to 90% of the surrender value.

Surrender Value

Surrender Value can be acquired anytime during the term of the policy. Surrender Value payable is higher of Guaranteed Surrender Value or Special Surrender Value.

Tax Benefit

The premiums paid are eligible for tax benefit under section 80C of the Income Tax Act and benefits payable can also avail tax benefit under section 10 (10D) of the Income Tax Act, 1961.

No rider can be attached under this plan.

Aayush at 35 years buys Sahara Shrestha Nivesh-Jeevan Bima with the policy term of 8 years, pays single premium of Rs 19,150 and the sum assured is Rs 30,000.

Scenario A: Aayush Survives the Policy Term

On survival of Aayush till end of the policy term, an amount equal to the sum assured i.e., Rs 30,000 is payable.

Scenario B: Aayush dies during the Term of the Policy

In the event of the demise of Aayush within the policy term, the death benefit payable equal to sum assured i.e., Rs 30,000 is payable.

Benefit Illustration: