All About Sahara Dhan Vridhi Jeevan Bima

Sahara Dhan Vridhi-Jeevan Bima is a no-profit single-premium Money Back endowment plan with the extra benefit of life coverage up to maturity for a single premium. This plan not only offers financial protection against unforeseen calamities, but it also pays out set percentages of the sum assured at regular intervals, as well as a return of premium at maturity, with guaranteed increases based on the period and sum assured chosen. This plan is designed to safeguard your life while also making monthly payments. It is ideal for individuals who have recurrent financial responsibilities such as supporting their necessities or paying for their child's education.

Sahara Dhan Vridhi-Jeevan Bima's Features

• It is a non-participating plan with a payment option of Single Premium.
• On maturity, the premium and Guaranteed Addition are paid.
• Customers may pick from a variety of investment plans based on their risk profile with this plan.
• At any point during the policy's term, the policyholder can swap his total investments from one fund to another of his choosing. The policy can also be abandoned at any time during the policy's duration.

Benefits of Sahara Dhan Vridhi Jeevan Bima

The following are some of the benefits that Sahara DhanVridhi-Jeevan Bima provides to the  life assured:

• The single premium is paid at maturity, together with a one-time Guaranteed Addition.
• The Guaranteed Addition is calculated as a percentage of the Single Premium and is determined by the term and quantity of coverage selected.
• If the policyholder's age is less than 45 years, 125 percent of the Single Premium is paid; if the policyholder's age is 45 years or over, 110 percent of the Single Premium is paid.
• From the conclusion of the third year and every three years afterwards, survivorship payments of 15% of the Sum Assured are paid.
• Benefit from income tax on premiums paid under Section 80C and claims received under Section 10(10D) of the Income Tax Act.
• Other important features of Sahara Dhan Vridhi-Jeevan Bima: the Free Look Period, Surrender Values, Grace Period, and so on.

Other advantages of choosing Sahara Dhan vridhi Jeevan Bima from Sahara Life Insurance include:

1. Benefit of Surrender

If the premiums for at least three years have been paid, the policy achieves surrender value. Surrendering a paid-up or in-force insurance before maturity or death allows the policyholder to cancel it before maturity or death. The policyholder is subsequently paid the surrender value. Among the Guaranteed Surrender Value and Special Surrender Value, this is the highest.

2. A Loan For Policy

A loan under the Sahara DhanVridhi-Jeevan Bima is not available.

3. Grace Period

The grace period is 30 days if a policy's premium payment frequency is annually, half-yearly, or quarterly. The grace period for a policy with a monthly premium payment frequency is 15 days. The insurance will remain valid throughout the grace period even if the premium is not paid on time. If a claim is made within this time, the sum promised under the plan is paid to the claimant after the outstanding premium amount is deducted.

4. Free-look Period

Within 15 days of receiving the bond, the policyholder can evaluate the terms and conditions contained in the insurance documentation. If he or she does not agree with any of these terms and conditions, he or she has the option to return the insurance to the insurer during the free-look time. The policyholder should also explain why he or she is objecting. In this case, the insurer will reimburse the policyholder's premiums after subtracting stamp duty and medical examination costs.

Conclusion

Sahara India Life Insurance Company Limited is the first private sector insurance company owned entirely by Indians. The organization's goal is to provide low-cost life insurance to people in both urban and rural areas of the country. The corporation has recently concentrated on expanding its insurance penetration into rural areas. Sahara DhanVridhi-Jeevan Bima is a Money Back endowment "with profits" plan with a restricted premium that provides twofold protection to the life guaranteed. Aside from providing life insurance coverage, the policy also offers lump sum money at certain periods over the policy's term. Customers that seek assured returns, safety, regular cash inflow, and tax benefits  may choose this plan.

Also read - Why are Money Back Plans the Best Investment Options?

How Can You Save Tax With Money Back Plan?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.