Sahara life insurance has introduced a new insurance plan Â -Â Sahara Vatsalya Jeevan Bima. Here are the details of that plan.
Sahara Vatsalya-Jeevan Bimaâ€™ 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 childâ€™s safe future. It also provides financial protection against death during the term of the policy by paying sum assured along with attached bonuses on the death of life assured (parent) in lump sum and additional annual â€˜Family Income Benefitâ€™ installments each of 10% of sum assured commencing from the policy anniversary following the death of the life assured and upto commencement of educational benefit and thereafter four annual educational benefit 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. The death benefits are payable to the appointee in case nominee (child) is minor. It is a with-profit plan and simple reversionary bonus will be declared every year depending upon the experience of the relevant fund. This plan is suitable for investors who get safety, returns, tax benefits & also guaranteed cash inflow at regular intervals to meet the educational expenses of the child.