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SAHARA Sanchay - R is a Unit linked plan being offered is a unique lend of risk coverage and market linked returns. All the objectives of buying a life insurance plan are taken care of with a potential of earning higher returns over the term of the policy. The unit linked plan enhances the value of the savings over a period of time and offers choices to the customers to choose the investment plan according to their risk profile and investment horizon at various points during the life of the policy.
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The policy holder has the option of switching his investments from one fund to another of his choice at any time during the life of the policy. Two free switches are allowed every policy year. Additional switches are allowed subject to at the rate of Rs 100/- per switch. The switching charges would be recovered by cancellation of units.
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Top-ups may be paid under the plan. The allocable amount of top-up premium will be credited to the existing fund. The maximum top-up amount that can be paid is 25% of total premiums paid under the base plan upto that date. Minimum Top-up Premium is Rs 2500 subject to the total top up amount paid including earlier payments not exceeding 25% of total premiums paid till date.
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On the date of maturity the policy holder will be paid Fund Value.
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1) Under Single Premium:Maximum of sum assured reduced by partial withdrawals pertaining to base fund within two years immediately preceding the death of the life assured or the basic policy fund value plus top-up fund value on the date of receipt of intimation in writing in an office of Sahara India Life Insurance Co. Ltd.2) Under Regular Premium -- If all due premiums are paid i.e. policy is in-force. Maximum of sum assured reduced by partial withdrawals pertaining to base fund within two years immediately preceding the death of the life assured or the basic policy fund value plus top-up fund value on the date of receipt of intimation of death in writing in the office of Sahara India Life Insurance Co. Ltd; - If all due premiums are not paid but the period from the date of first unpaid premium to the date of death is less than two years ( revival period):(a) If at least 3 years premiums have been paid- Maximum of sum assured reduced by partial withdrawals pertaining to base fund within two years immediately preceding the death of the life assured or the basic policy fund value plus top-up fund value on the date of receipt of intimation of death in writing in the office of Sahara India Life Insurance Co. Ltd;(b) If premium for less than 3 years have been paid- Fund Value- If all due premiums are not paid and the period elapsed from the date of first unpaid premium to the date of death is more than two years and policyholder had opted for continuation of the risk(If the policyholder had not opted for continuation of the risk, the surrender value, as per rules was payable): Maximum of sum assured reduced by partial withdrawals pertaining to base fund within two years immediately preceding the death of the life assured or the basic policy fund value plus top-up fund value on the date of receipt of intimation of death in writing in the office of Sahara India Life Insurance Co. Ltd;
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The policy would acquire surrender value if one full year premium is paid. However surrender value would be payable after at least three years from the commencement of the policy.
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Partial Withdrawal is allowed after three years from the date of commencement subject to the life assured having attained majority i.e. on or after attainment of age of 18 years.
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Accident Benefit & Accidental Total & Permanent Disability Benefit Rider
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