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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 Vatsalya Jeevan Bima
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Plan Nature
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TRADITIONAL
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Plan Category
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Protection Plan
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UIN No.
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127N025V01
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About Plan
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It is a with profit endowment plan with added advantage of life cover upto maturity and educational benefit of four annual installments @ 20%,25%,25% and 30% of sum assured are payable at the end of each year during the last four consecutive years of policy term for the educational expenses of the nominated child to ensure the child's safe future.
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Minimum Entry Age
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20 years - Parent0 year - Child
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Maximum Entry Age
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50 years - Parent12 years - Child
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Minimum Sum Assured
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Rs.100000
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Maximum Policy Term
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22 - Age at entry of child
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Premium Paying Term
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22 - Age at entry of child
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Maximum Maturity Age
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70 years Parents
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Benefits
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| Particulars | Description |
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Maturity Benefits
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If the policy is in force for full sum assured, attached bonuses will be payable at maturity and four annual installments of 'Educational Benefit' @ 20%,25%,25% and 30% of sum assured are payable at the end of each of the last four policy anniversaries respectively.
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Death Benefits
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If the policy is in force for full Sum Assured at the time of death of the Life Assured (the parent), following benefits will be payable to the nominee, and in case nominee (child) is minor to the appointee. A lump sum payament of Sum Assured along with all vested bonuses is payable immediately on death of the life assured.
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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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Accidental Death Benefit & Accidental Total & Permanent Disability Benefit Rider [127B001V01]
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Policyholder is entitled to review the terms and conditions of the policy within a period of fifteen days form the date of receipt of the policy bond and in case of any disagreement with the terms and conditions, the policyholder shall have option to return the policy bond stating the reasons of disagreement. In such a case the policyholder shall be entitled to refund of paid premiums after deduction of proportionate risk premium, expenses incurred towards medical examination and stamp duty charges.
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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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