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Insurance Company
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Sahara India Life Insurance Company Ltd
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Plan Name
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SAHARA Jamakarta Samooh Bima
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Plan Nature
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TRADITIONAL
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Plan Category
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Term Plan
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UIN No.
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127N016V01
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About Plan
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This product provides only term insurance cover, thus satisfying the insurance need of persons, who are unable to save enough for getting themselves covered through individual insurance plans. Term Insurance means that sum assured shall be payable to nominee only on death of member during continued membership of the group and currency of the policy.
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Minimum Entry Age
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18 Years
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Maximum Entry Age
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59 Years
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Minimum Sum Assured
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Rs.5000
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Maximum Sum Assured
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Rs 500000
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Maximum Maturity Age
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60 Years
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Minimum Policy Term
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1 Years
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Benefits
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| Particulars | Description |
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Death Benefits
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Sum Assured under the scheme shall be payable to the nominee of the member during continued membership of the group and currency of the policy.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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SAHARA Jamakarta Samooh Bima plan provides only term insurance cover, thus satisfying the insurance need of persons, who are unable to save enough for getting themselves covered through individual insurance plans. Term Insurance means that sum assured shall be payable to nominee only on death of member during continued membership of the group and currency of the policy.
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As a result of significant saving in expenses, in comparison to individual insurance, cost of term insurance is very minimal. For example a single proposal form is to be filled by the Group Authority and a single group policy, covering all eligible members of the group, is issued to the Group Policyholder.
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Depositors of a Bank/Para-Banking Company/ member of Co-operative Societies etc. may join the scheme immediately from the date /from the first of the following month/from the next policy anniversary date or from the date/ from the first of the following month/ from the next policy anniversary date after completion of selected deferment period.
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The amount payable on death of an individual member is Sum Assured only. No other guarantee is available under the plan.
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29-Jan-09
16:51
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Insurers to inform consumer on bouncing of cheque
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29-Oct-08
12:05
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IRDA asks ULIP performance report
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