Insurer: Shriram Life Insurance

Category: Traditional Plan

Objective: Financially Securing Child’s Future

Comprehensive death benefit

Premium Rebate

Accidental Rider available

Loan facility

Maximum Entry Age: 50 Years

Maximum Age at Maturity: 70

Policy Term: 10 Years

Premium Payment Frequency: Yearly, Half Yearly, Quarterly

The accumulated amount is paid to the policyholder.

Death Benefit:

In the case the life insured passes away during the policy term, Sum Assured with vested bonuses will be paid. Also 1% of Sum Assured monthly payouts will be paid till the end of policy term.

Guaranteed Benefit: If the life insured dies or survives, 25% of Sum Assured will be paid during the last 4 consecutive years of the policy term.

Maturity Benefit: The vested bonuses will be paid at the end of policy term.

Riders: The riders add extra layer of protection for your child. You can add Accidental death benefit rider with the plan.

Discount: If you opt for Sum Assured equal and above Rs 100,000, rebate on base premium will be given.

Loan: You can apply for loan against the policy, the maximum loan amount you can get is 90% of surrender value.

Under Section 10(10D) death claim is completely tax free.

Surrender Value: In case you want to cancel Shri Vidya after 3 years, the minimum guaranteed surrender value will be paid which is equivalent to 30% of all premiums paid barring the first year premium.

Free Look Period: WealthOne plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Insurer: Shriram Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and returns on investment

Riders available

Loan facility

Maximum Entry Age: 65 Years

Maximum Age at Maturity: 75 Years

Policy Term:  7 Years - 25 Years

Premium Payment Frequency: Yearly, Half Yearly, Quarterly

What benefits does Shri Life offer?

Death benefit:

In case of unfortunate death of the life insured, Sum Assured along with vested bonuses will be paid.

Maturity Benefit:

At the end of policy term, Sum Assured with vested bonuses will be paid.

Riders:

You can opt for the following riders with the plan- Accidental death benefit and family income benefit rider.

Discount:

For Sum Assured equal and above Rs 100,000, rebate on base premium will be given

Loans:

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

Under Section 10(10D) death claim is completely tax free.

Surrender Value: In case you want to cancel Shri Life after 3 years, the minimum guaranteed surrender value will be paid which is equivalent to 30% of all premiums paid barring the first year premium.

Free Look Period: Shri Life plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Insurer: Shriram Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and periodic returns on investment

Accidental Rider

Large Sum Assured  Rebate

Maximum Entry Age:  60 Years

Maximum Age at Maturity: 75 Years

Policy Term:  15 Years to 20 Years

Premium Payment Frequency: Yearly, Half Yearly, Quarterly

In case the Life Assured passes away during the policy term, Sum Assured with the vested bonuses will be paid to the nominee.

Money Back Benefit:

Depending on policy term, a % of Sum Assured is paid on 5^th policy year and every 5 years thereafter.

Maturity Benefit:

A % of Sum Assured is paid on maturity.

Riders: 

Accidental Death benefit rider can be opted with Shriram Akshay Nidhi plan.

Discount:

For Sum Assured equal and above Rs 200,000, discount on premium will be provided.

Under Section 10(10D) death claim is completely tax free.

Surrender Value: In case you want to cancel Shriram Akshay Nidhi plan after 3 years, the minimum guaranteed surrender value will be paid which is equivalent to 30% of all premiums paid barring the first year premium.

Free Look Period: Akshay Nidhi plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Plan Name: Raksha

Insurer: Shriram Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and returns on investment

• Bonuses
• Riders available
• Large Sum Assured Rebate
• Loan facility

Maximum Entry Age: 65 Years

Maximum Age at Maturity: 75 Years

Premium Paying Term: 10 Years- 25 Years

Premium Payment Frequency: Yearly, Half Yearly, Quarterly

What benefits does Shri Raksha offer?

Death benefit:

In case of unfortunate death of the life insured during the premium paying term, double the Sum Assured along with vested bonuses will be paid. If death occurs after the premium paying term, Sum Assured along with vested bonuses will be paid.

Maturity Benefit:

At the end of policy term, Sum Assured with vested bonuses will be paid.

Discount:

For Sum Assured equal or above Rs 100,000, rebate on premium will be made.

Riders:

By paying additional nominal premium, you can opt for the following riders- Accidental benefit rider, family income benefit rider and extra insurance rider.

Loans:

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

Under Section 10(10D) death claim is completely tax free.

Free Look Period: Raksha plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Insurer: Shriram Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and returns on investment

• Bonuses
• Inbuilt family income rider
• Accidental Rider available
• Loan facility

Maximum Entry Age: 50 Years

Maximum Age at Maturity: 75 Years

Policy Term:  7 Years - 25 Years

Premium Payment Term: Policy Term

Premium Payment Frequency: Yearly, Half Yearly, Quarterly

What benefits does Shri Vivah offer?

Death benefit:

In case of unfortunate death of the life insured, Sum Assured along with vested bonuses will be paid. 1% of Sum Assured will be paid monthly till the end of policy term. At the end of policy term, Sum Assured will be paid again.

Maturity Benefit:

At the end of policy term, Sum Assured with vested bonuses will be paid.

Discount:

For Sum Assured equal or above Rs 100,000, rebate on premium will be made.

Riders:

By paying additional nominal premium, you can opt for the Accidental death benefit rider.

Loans:

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

Under Section 10(10D) death claim is completely tax free.

Free Look Period: Vivah plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Insurer: Shriram Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and returns on investment

• Single Premium plan
• Bonuses
• Riders available
• Loan facility

Maximum Entry Age: 65 Years

Maximum Age at Maturity: 75 Years

Policy Term:  5Years - 25 Years

Premium Payment Term: Single Premium

What benefits does Shri Laabh offer?

Death benefit:

In case of unfortunate death of the life insured, double the Sum Assured along with vested bonuses will be paid.

Maturity Benefit:

At the end of policy term, Sum Assured with vested bonuses will be paid.

Riders:

You can opt for the following riders with the plan- Accidental death benefit and family income benefit rider.

Loans:

You can get loan up to 10% of the surrender value.

Under Section 10(10D) death claim is completely tax free.

Free Look Period: Laabh plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Insurer: Sahara Life Insurance

Category: Unit Linked Insurance Plan

Objective: Financial protection of family and good return on investment

Minimum Entry Age: 18 Years

Maximum Entry Age: 65 Years

Maximum Age at Maturity: 75 Years

Policy Term: 5 to 10 Years

Premium Paying Term: Single Premium

Minimum Premium: Rs 30,000

Returns in Sahara Sanchit

Any ULIP’s performance is directly dependent on the performance of the fund which in turn depends upon equity and debt market. If the market is rising, it will automatically reflect on your returns.

Sahara has 5 funds available ranging from conservative to aggressive. If you have higher risk appetite and are for long term you can opt for aggressive fund. On the other hand, if you have limited investment period, you should go for conservative fund.

In a typical scenario, you will be able to get at least 10% return on investment. The investment risk is borne by the policyholder.

Premium Allocation Charges: These charges are deducted as percentage of premium. Insurer deducts these charges on account of expenses incurred by the company – medical examination, policy issuance, underwriting bills. Premium allocation charge is 3% of annual premium for 1^st policy year and there are no charges thereafter.

Fund Management Charge: Charge ranging from 0.65% to 1.00% is deducted from the units for fund management.

Policy Administration Charge: These are monthly deductions which start from first month and are for maintaining the policy- paperwork, work force etc.  The monthly policy administration charge is Rs 30 per month and increases at 5% per annum thereafter.

Mortality Charge: These are charges deducted as a part of life cover provided and are recovered through cancellation of units.

Under Section 10(10D) death claim is completely tax free.

Partial Withdrawal: If policyholder is above 18 years partial withdrawal can be made and the minimum amount is Rs 2,500 and fund value equal to Rs 30,000 shall always be maintained. There is no charge for partial withdrawal,

Grace period: Sanchit can be renewed within 30 days from the premium due date.

What to do?

To Cancel Policy: Sanchit plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

If you want to cancel policy after the initial period of 15 days, you can do it but the amount will be paid only after lock in period years. If you cancel policy within 5 years from inception, the amount will grow at interest rate of 3.5% compounded annually. After five years, if you cancel the policy, there will be no cancellation charges and amount will be paid immediately.

Insurer: Sahara Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and returns on investment

• Bonuses
• Sum Assured Rebate
• Riders available
• Loan facility

Maximum Entry Age: 60 Years

Maximum Age at Maturity: 75 Years

Policy Term:  15 Years

Premium Payment Term: Policy Term

Premium Payment Mode: Yearly, Half Yearly, Quarterly, Monthly

What benefits does Sahara Umang offer?

Death benefit:

In case of unfortunate death of the life insured, Sum Assured along with vested bonuses will be payable.

Maturity Benefit:

At the end of policy term, Sum Assured along with vested bonuses will be payable. Additionally, one year after policy maturity, 10 installments of 10% of Sum Assured will b e paid.  If policy has been continued for more than 15 years, terminal bonus will be paid along with 10^th installment.

Large Sum Assured Rebate:

For Sum Assured equal or above Rs 200,000, discount on premium will be provided.

Riders:

By paying additional premium, you can increase financial security by adding following riders:

- Accidental Benefit & Accidental total & Permanent disability benefit rider

- Critical Illness rider

Loan:

You can apply for loan after 3 policy years.

Under Section 10(10D) death claim is completely tax free.

Free Look Period: Umang plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Insurer: Sahara Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and returns on investment

Maximum Entry Age: 60 Years

Maximum Age at Maturity: 70 Years

Policy Term:  10- 50 Years

Premium Payment Term: Policy Term

Premium Payment Mode: Yearly, Half Yearly, Quarterly, Monthly

What benefits does Sahara Nidhi offer?

Death benefit:

In case of unfortunate death of the life insured, Sum Assured along with vested bonuses will be payable. If policy has been continued for more than 15 years, terminal bonus is added as well.

Maturity Benefit:

At the end of policy term, Sum Assured along with vested bonuses will be payable. If policy has been continued for more than 15 years, terminal bonus is added as well.

Large Sum Assured Rebate:

For Sum Assured equal or above Rs 200,000, discount on premium will be provided.

Riders:

By paying additional premium, you can increase financial security by adding following riders:

- Accidental Benefit & Accidental total & Permanent disability benefit rider

- Critical Illness rider

Loan:

You can apply for loan after 3 policy years.

Under Section 10(10D) death claim is completely tax free.

Free Look Period: Nidhi plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Insurer: Sahara Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and periodic returns on investment

Bonuses

Riders available

Maximum Entry Age: 60 Years

Age at Maturity: 75 Years (Maximum)

Policy Term: 15, 20 Years

Premium Paying Term: Policy Term

Minimum Sum Assured: Rs 100,000

Premium Payment Frequency: Yearly, Half-Yearly, Quarterly, Monthly

In case the Life Assured passes away, Sum Assured along with vested bonuses will be paid.

Money Back:

From 3^rd policy year onward and every 3 years thereafter, a specific % of Sum Assured will be paid.

Maturity:

At the end of policy term, 40% of Sum Assured (15 year term) and 30% of Sum Assured (20 year term) will be paid.

Bonuses:

At the end of every financial year, bonuses will be added to the policy. On maturity policies, loyalty additions might as well be added.

Riders:

By paying additional premium, you can increase financial security by adding following riders:

- Accidental Benefit & Accidental total & Permanent disability benefit rider

- Critical Illness rider

Under Section 10(10D) death claim is completely tax free.

Surrender Value: In case you want to cancel Sahara Samriddhi plan after 3 years, the minimum guaranteed surrender value will be paid which is equivalent to 30% of all premiums paid barring the first year premium.

Free Look Period: Samriddhi plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.