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Sahara India Life Insurance T&Cs

44 reviews Rate This
Claim Settlement Ratio97.18%
Customer Care1800-180-9000
Death Benefit Paid For585 Policies
Presence50 Branches Pan India
Total Death Benefit Paid5.44 Crore

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Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Sahara India Life Insurance Life T&Cs

Following are the terms and conditions of Sahara India Life Term Insurance Plans:

  • Grace Period: As per the Insurance Regulatory Authority of India (IRDAI) a 30 days grace period is permitted from the premium due date. In case, the premium mode is monthly then 15 days is allowed. Within this time period, the insurance provider would accept the payable premium amount without any late fees or fine.
  • Lapse: If the policy premium is not received by the Sahara India Life Insurance by the end of the Grace Period, then your Policy will lapse with effect from the date of unpaid premium and no coverage and benefits provided under the plan will be covered.
  • Nominations & Assignment: Nomination & Assignment would be applicable as per the Section 39 and Section 38 respectively of the Insurance Act 1938.
  • Suicide Exclusion: In case the policyholder dies because of suicide within 12 months from the issuance date of the plan or revival date of the plan, then the plan will immediately get discontinued. In the above mentioned cases, the Sahara India Life Insurance will only refund total payable premium including additional underwriting premiums paid and loadings for modal payable premiums to the nominee/beneficiary.
  • Statutory Impositions: The policyholder needs to pay statutory impositions. (Benefits offered and Premiums payable mentioned under the policy will depend upon cess, taxes, statutory levy at the current rates).
  • Free Look Period: There is a 30 days free look time period in case the plan is bought via distance marketing modes from the issuance date of the plan in order to review the terms and conditions of the plan. If the policyholder does not accept any of the terms or conditions, he has the option to return the policy.
  • Tax Benefits: The policyholder may be entitled to receive some tax benefits on the premium paid by him towards the insurance policy. All the tax benefits are based upon the tax laws applicable during the premium payment time or benefit receipts by the policyholder.
  • Fraud: Sahara India Life Insurance will repudiate a term life insurance policy on the ground of Fraud if the policyholder or the nominee can prove that the suppression or misstatement of facts was true to the best of his knowledge and there was no deliberate intention to suppress material fact within the knowledge of the policyholder or nominee.
  • Revival of Policy: In case the plan gets lapsed, then the policy can be revived by the policyholder within five years from the due date of premium payment and prior to the expiry of the policy duration. The revival of policy will take place only after approval by the Sahara India Life Insurance as per their Underwriting standards. If a Lapsed Policy is left un-revived within the period allowed for revival, the policy will terminate and no value is payable to you.
  • Section 45 Of The Insurance Act, 1938

According to this section:

  1. The Insurance policy shall not be called in question on any ground whatsoever, after three years of the policy from- the date of revival of the policy, the date of rider to the policy, the date of commencement of risk, or the date of issuance of the policy (whichever is later).
  2. Insurance policy can be called for the questioning on the basis of fraudulent activity within 3 years from the issuance date of the policy, the revival date of the policy, or the commencement date of the risk(whichever is later)
  3. Mere silence of facts is not fraud unless, depending on the circumstances of the case, it is the duty of the insurance company keeping silence to speak or silence is in itself equivalent to speaking.

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Sahara India Life Insurance User Reviews

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What users are saying
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  • Based on customer reviews, the Sahara Dhan Sanchay Jeevan Bima plan is one of the top-rated plans. So, I went ...

    Read More
    Sahara India
    By Farhan Khan
    On: Jan 23, 2023
  • The Sahara Dhan Sanchay Jeevan Bima plan available on InsuranceDekho had so many amazing features that I was c...

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    Sahara India
    By Vaishnavi Chaudhary
    On: Oct 13, 2022
  • The best part about buying the Sahara Dhan Sanchay Jeevan Bima plan from InsuranceDekho was that I got persona...

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    Sahara India
    By Piyush Chawla
    On: Sep 26, 2022
  • With the help of the online term calculator available on InsuranceDekho, I was easily able to calculate the pr...

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    Sahara India
    By Mrinalini Singh
    On: Sep 20, 2022
  • I wanted to invest in a life insurance plan but my budget was restricted, so I was looking for affordable life...

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    Sahara India
    By Rashi Raj
    On: Sep 09, 2022

Claim Process at Sahara India Life Insurance

  • 1

    Claim Intimation

    In the event of the death of the life assured, the insurance company should be intimated as early as possible.
  • 2

    Submission of Documents

    For easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
  • 3

    Claim Evaluation

    After successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.

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