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Sahara Life Insurance

Claim Settlement Ratio - 90.16%*
*Data according to IRDA Annual Report (2018-19)
*Please note that the quotes shown will be from our partners

Investing in a life insurance plan is crucial for all people as it provides financial protection to the policyholders and their families. Sahara India Life Insurance is renowned for offering a wide variety of life insurance plans. Their insurance products are designed to protect and cover their discerning customers comprehensively.

Sahara India Life Insurance Company is the first purely and wholly Indian Private Life Insurance Company.  The life insurance plans offered by this company are designed to meet the insurance requirements of the people of all ages and segments. The diverse segments of the Sahara life insurance plans offered include:

  • Term Assurance 
  • Unit Linked 
  • Money Back 
  • Group Insurance 
  • Endowment 

Features of Sahara life insurance

Some of the key features of Sahara life insurance are as follows:

  • Expenses: Sahara India Life insurance coverage plans are known to be affordable. They have relatively cost-effective premium rates.
  • Flexibility: When it comes to making premium payments for life insurance plans offered by this company, the policyholder can avail various convenient options. 
  • Online plans: People can invest in Sahara term coverage plans online with ease. One can easily buy policies form the official website of the insurer at their convenience, simply with just one click.
  • Variety: There is a wide variety of insurance products offered by this company, comprising both offline and online plans.
  • Customer Service: This life insurance company is known to feature an excellent team of customer service professionals that offer hassle-free and seamless pre-sales and post-sales services

Benefits of Sahara Life Insurance

Here is a rundown to the core benefits of Sahara Life Insurance:

  • Death Benefit: Sahara Life Insurance policy pays out death benefit on a monthly basis, or in lump-sum or both. However, if the insured outlives the policy the company doesn’t make pay-outs.
  • Tax benefits: Tax benefits can be enjoyed by people by paying the premiums of the Sahara life insurance plans regularly, under the Sections 80C and 10(10D) of the Income Tax Act.

Types of Sahara life insurance Plans

There are different plans offered by Sahara Life Insurance. Let’s discuss these plans in detail:

Endowment Plans

Much like its name suggests, endowment plans endow the insured individual with the chance to utilize life insurance instruments as an investment. The plans offered by the Sahara life insurance under this scheme are as follows:

Plan Basic Sum Assured Tenure (Policy Term)
Sahara Shrestha Nivesh Minimum – Rs. 30,000 Max – Rs. 1 Crore; subject to underwriting 5 to 10 years (subject to a min. maturity age of 19 years)
Sahara Shubh Nivesh Minimum – Rs. 50,000 Max – No limit; subjected to underwriting Ten years (fixed)
Sahara Dhan Sanchay Minimum – Rs. 50,000 Max – No limit; subjected to underwriting 15 years 
  1. Sahara Shrestha Nivesh-Jeevan Bima: 

    This is an endowment policy specifically designed for people who have uncertain income. It provides the policyholders with the option to make a single payment for the premium, to secure the financial future of their family. The Sahara Shrestha Nivesh-Jeevan Bima coverage plan additionally offers a rebate on high sum assured.  

    • Coverage: Upon maturity of this Sahara life insurance endowment policy, the relevant sum assured at maturity shall be paid to the insured and their nominees.
    • Eligibility:  The minimum age of entry is nine years and the maximum age is 60 for this coverage plan, while the maximum maturity age is 70 years. 
    • Premiums: A single premium insurance plan and its amount would depend on the age of entry. Policyholders entering the Sahara Shrestha Nivesh-Jeevan Bima at a younger age would have to pay a lower premium sum, and the premium amount to be paid by them would keep increasing with age. 
  2. Sahara Shubh Nivesh-Jeevan Bima:  

    This is another Sahara Life Insurance single premium endowment plan. This coverage policy provides a minimum sum assured of Rs. 50,000, and is designed for people who intend to buy a house or expect to pay lump sum money towards education in their near future. The Sahara Shubh Nivesh-Jeevan Bima coverage policy additionally provides quite high liquidity. 

    • Coverage:   This coverage plan provides both death and maturity benefits. The assured sum shall be paid to the policyholder on the policy’s maturity. The sum assured additionally would be paid to the nominee or beneficiary of the policy in case of the policyholder’s death.
    • Eligibility: The minimum age of entry is nine years, and the maximum age is 60 years for this plan, while the maximum maturity age is 70 years.
    • Premiums:  A single premium plan, whose rates would depend on the sum assured chosen by the policyholder. Premiums to be paid for this Sahara Life Insurance plan would also vary based on age, location, plan term, and other factors.  
  3. Sahara Dhan Sanchay Jeevan Bima: 

    The traditional participating endowment coverage plan that provides the policyholders with the dual benefits of income and protection. In addition to offering life insurance coverage, it also provides people with a regular income that can help the dependents in fulfilling any kind of financial obligations that they might have. The Sahara Dhan Sanchay Jeevan Bima policy is ideal for investors wanting a guaranteed cash inflow, good returns, as well as tax benefits.

    • Coverage: There are both maturity and death benefits provided by this plan.  
    • Eligibility: The minimum entry is 14 years for this Sahara life insurance endowment plan, and the maximum age is 50 years. The maximum age at maturity is 70 years
    • Premiums: Policyholders may pay yearly, half-yearly, quarterly, and monthly premiums for this coverage policy. The premium sum would depend on factors like the term of the plan, age of the policyholder, as well as the prevailing taxes/GST.

Money Back Plans

Money back plans offered by the company are as follows:

Plan Basic Sum Assured Tenure (Policy Term)
Sahara Pay Back Min – Rs. 75,000 Max – Rs. 1 Crore; subject to underwriting Fixed for 12 years, 16 years and 20 years
Sahara Dhanvriddhi Min – Rs. 50,000 Max – Rs. 1 Crore; subject to underwriting Nine years / 12 years / 15 years (subject to maximum maturity age 70 years)
Sahara Dhanvarsha Min – Rs. 75,000 Max – No limit; subject to underwriting Fixed for 15 years and 20 years (subject to maximum maturity age 70 years)
  1. Sahara Pay Back: 

    The limited premium money-back participating, non-lined endowment policy that aids the policyholders to manage their expenses, so that they would have a lump sum fund available with them for emergencies. This coverage plan is specially designed to protect the family of the policyholder in times of financial hardship. The Sahara Pay Back policy provides a combination of earnings at the time-bound periods and financial protection. 

    • Coverage: In addition to death and maturity benefit, survival benefit is also provided by this Sahara Life Insurance plan. The survival benefit will be paid to the policyholder if the insured individual survives throughout the policy term. This benefit will be periodically paid in installments.
    • Eligibility: The minimum eligibility age is 16 years for the Sahara Pay Back policy, and the maximum age is 50. The maximum coverage age is till 70 years.
    • Premiums: The premium paying term is five years for 12 years policy term, 5 or 10 years for 16 years policy term, as well as 5, 10, or 15 years for 20 years policy term.
  2. Sahara Dhanvriddhi: 

    The money-back, single premium endowment policy involves a one-time premium payment, which would provide life cover until the time of maturity, as well as offer the needed financial security in case of any emergency. This Sahara Life Insurance coverage plan is designed for the people who aim at investing today so that they can reap its benefits on maturity. 

    • Coverage: The Sahara Dhanvriddhi plan provides a death benefit, maturity benefit, as well as survival benefits. In case the policyholder passes away during the policy term, their nominee will be entitled to the death benefit sum assured. In the scenario that the policyholder survives the term of the coverage policy, they shall be entitled to receive survival benefit, which would be a certain percentage of the sum assured payable at regular intervals.
    • Eligibility: The minimum age of entry is nine years, and the maximum age is 60. The maturity age is 70 years. 
    • Premiums:  The Sahara Dhanvriddhi plan is a single premium payment policy where the premium payment is made one time. 
  3. Sahara Dhanvarsha:

    The traditional Sahara Life Insurance money-back, non-participating, limited endowment coverage policy provides dual advantages of protection against unpredictable emergencies, as well as money-back at specified intervals. 

    • Coverage: The coverage of this Sahara Life Insurance plan includes death benefits, maturity benefits, and survival benefits.
    • Eligibility: The minimum age of entry is 15 years, and the maximum age of entry is 55 years for the Sahara Dhanvarsha coverage plan. 
    • Premiums:  The premiums for this plan can be paid on a monthly, quarterly, half-yearly, or yearly basis. Age of the life assured and the plan tenure is some of the elements that influence the premium rates.  

Unit Linked Plans

Sahara Life Insurance offers unit-linked plans, which are tools that take a part of the premium amount to provide life cover. At the same time, its remainder sum is invested in the markets.  The plans coming under this segment of coverage plans are: 

Plan Basic Sum Assured Tenure (Policy Term)
Sahara Sanchit Up to 45 years – 125% of single premium; 46 years & above – 110% of single premium 5 to 10 years
Sahara Utkarsh Up to 45 years – 125% of single premium or ten times of annualized premium (regular premium). Forty-six years & above - 110% of single premium or seven times of annualized premium (regular premium). 8 to 20 years
Sahara Sugam Ten times of Annualized Premium 10, 15 or 20 years
  1. Sahara Sanchit - Jeevan Bima: 

    A single premium ULIP coverage policy that provides the policyholder with a chance to increase their wealth, in addition to offering them adequate risk coverage. This Sahara Life Insurance plan enables the policyholders to safeguard the funds invested by them in the equity markets from risks due to market volatility. 

    • Coverage: The coverage provided by this policy includes both death and maturity benefits. 
    • Eligibility: The minimum age is 18 years, and the maximum is 65 years for the Sahara sanchit - Jeevan Bima coverage plan. 
    • Premiums:  A single premium plan. The minimum premium payment amount for this policy is Rs. 30,000, and there is no limit on the maximum premium payment.
  2. Sahara Utkarsh - Jeevan Bima: 

    The premiums for this plan can either be paid throughout the term of the policy or as a single premium. This plan can additionally be customized with a rider. The Sahara Utkarsh - Jeevan Bima coverage policy is ideal for people who can take a higher risk appetite.

    • Coverage: Both maturity and death benefit is offered by this plan. 
    • Eligibility: The minimum age of entry is 12 years for this Sahara Life insurance plan, and the maximum is 55 years. 
    • Premiums: Offers the options of single or regular premium payment. The minimum premium for the single premium plan is Rs.50, 000, while it is Rs.20, 000 for yearly mode and Rs.15, 000 for half-yearly mode.
  3. Sahara Sugam Jeevan Bima: 

    This coverage plan by Sahara Life Insurance both protects the policyholder and gives them the option of investing in funds, based on the risk profile of the fund. This plan provides an incredibly hassle-free enrollment process. The sum assured offered in the Sahara Sugam Jeevan Bima plan is ten times the annualized premium. 

    • Coverage: Both death and maturity benefit comes under the coverage of this policy. 
    • Eligibility: The minimum age of entry is ten years, while the maximum age of entry is 55 years. The maximum maturity age for this coverage plan is 70 years. 
    • Premiums:  The premium for this plan is paid annually, and the minimum premium sum for it is Rs.12,000. 

Group Plans

Group plan by Sahara Life Insurance:

Plan Basic Sum Assured (per member) Tenure (Policy Term)
Sahara Samooh Suraksha Min – Rs. 50,000; Max – Rs. 5,00,000 N/A
  1. Sahara Samooh Suraksha:

    Group insurance policies are majorly designed for a group of people or business organizations that desire to offer some type of insurance coverage to their employees.  The Sahara Samooh Suraksha coverage plan provides a minimum cover of Rs.50, 000 and a maximum cover of Rs 5, 00,000 to each of the members of a group. This policy additionally provides the benefit of market appreciation on the savings amount of the premiums paid. 

    • Coverage: The Sahara Samooh Suraksha provides death benefits. In case a group member dies, their nominee would receive a lump sum amount of death benefit that is equal to the quantum of sum assured. 
    • Eligibility: The minimum age of entry for this Sahara life insurance group plan is 18 years, and the minimum group size is 50 members. The maximum age is 64 years. 
    • Premiums: Premiums are required to be paid yearly for this coverage policy, either by the Group Policyholder or by individual members.
    • Sahara Life Insurance Riders:

      Apart from the aforementioned plans, Sahara Life Insurance also offers a rider – Sahara Accidental Death Benefit Rider.

      This rider can be availed at an additional charge and gives the family of life assured an additional protection in case of uncertainties. The Accidental Death Benefit Rider offers added coverage in case of the demise of insured due to accidental, external and violent means. 

      Following are the details of the rider:

      Entry Age (Min.) 18 years 
      Entry Age (Max.) 60 years
      Sum Assured (Min.) Rs. 50,000
      Sum Assured (Max.) Rs. 20 Lakh inclusive of cover under all the previous policies with the insurer or the sum assured of the basic policy, whichever is lower.
      Maturity Age (Max.) 65 years

Exclusions of Sahara Life Insurance? 

Most Insurance coverage plans tend to have certain exclusions, and the suicide clause coming under the Sahara life insurance plans is one of them. This cause marks that in case the death of the policyholder takes place due to suicide, within 12 months from the date of the inception of the relevant policy, the beneficiary or nominee of the policyholder would be entitled to at least 80% of the premiums paid, if the policy is in force, or they shall be entitled to more than 80% of the premiums paid till the date of death.

Claim Process of the Sahara Life Insurance Plans

The claim for any Sahara life insurance policy can be filed through an extraordinarily hassle-free and straightforward procedure.  Here are the significant steps involved in it:

  1. Death claims:

    Claim Intimation: The nominee of the policyholder would be required to intimate the claim to the insurer by filling up a claim form. Certain relevant documents have to be attached with the claim form, such as:  

    • Original Policy Document
    • Nominee ID proof that establishes his/her relationship with the policyholder
    • Copy of death certificate issued by the local authority
    • Address Proof of the Nominee
    • Medical Records 
    • Last Medical Attendance Report 
    • Post Mortem Report (if any)
    • FIR / Police Report (if any)
    • Panchnama / Inquest Report if the case filed with Police 
    • Saving Bank Account Number
    • The contact number of Claimant
    • Existence Certificate
    • PAN card of the payee

    The nominee has to make sure that the form is orderly filled based on the claim type, and duly submitted to a Sahara Life Insurance office. 

    Fund value payment: The insurer would pay the fund value to the nominee of the policy after receiving the relevant document. The payment is made through NEFT (National Electronic Fund Transfer) to the relevant nominee.

  2. Maturity/Survival claims:

    Claim intimation:  The policyholder would have to intimate the claim after their relevant coverage policy maturity period. Original policy document shall be needed to claim the maturity amount.  Apart from this, there are few other documents that the policyholder would have to submit that the Sahara Life Insurance office, such as:

    • Indemnity Bond instead of Original policy document
    • KYC (if there is any change in address). 
    • A cancelled cheque that bears the account number and policyholder name or a copy of their bank passbook 

    Settlement pay-out: After verifying the documents thoroughly, the insurer would directly transfer the necessary sum of the money to the bank account of the policyholder via NEFT.

Tax Benefits of Sahara Life Insurance Plans 

  • The premiums paid under the coverage plans provided by the insurer are eligible for Income tax benefits under 80C of the Income Tax Act, 1961.
  • Under section 10(10D) of the Income-tax Act, 1961, the maturity proceeds of the Sahara Life Insurance plans are not taxed as income of the policyholder or their dependents. This section, however, may not be applicable in case the premium exceeds 20% of the sum assured in any single year during the policy term.

How to Buy a Sahara Life Insurance plan?

There are two ways to buy Sahara Life Insurance policies. People can either invest in these plans through intermediaries or opt to purchase coverage plans online. 

  1. Intermediaries 

    People can invest in any Sahara Life Insurance policy by visiting any branch office of the insurer or by contacting any of their corporate agents. People can find the official list of the company’s corporate agents on their official website, along with their contact details. 

  2. Online

    Only Sahara Life Insurance term coverage plans can be purchased online.  People can invest in these plans with ease through the website of the insurer. 

How to renew Sahara Life Insurance policies?

There are three simple ways through which policyholders may renew their Sahara Life Insurance coverage policy. They are:

  • At any Sahara India Life Insurance branch through cash, cheque or demand draft
  • By making online payments through the website of the insurer 
  • Through CSC centres

Documents Required to Buy Sahara Life Insurance Policies  

  • Identity proof: Passport, PAN Card, Voter’s ID, etc 
  • Age proof: The passport or Voter’s ID
  • Address Proof: Passport or utility bills
  • Income Proof: Recent payslips from the current employment of the policy buyer
  • PAN card


  • Q: How to check the policy status of the Sahara Life Insurance plans?

    Ans: The policyholders may check the status of their coverage plan through any of the following ways: 
    • Check the status of coverage policy online
    • The policyholders can log in to the website of the insurer and access the relevant menu option there to check the policy status
    • The policyholders may even alternatively send an email to This email address is being protected from spambots. You need JavaScript enabled to view it. to acquire updates on their coverage plan status. Their mail should include the name of the policyholder and policy number, as well as their address and contact details. The policyholder would subsequently be notified about their policy status through email. 
    • Check the status  of the coverage plan offline
    • Policyholders may just visit any branch office of Sahara Life Insurance and request to take a look at the status of their policies
    • Policyholders may even give a call at the customer care helpline of the insurer to acquire updates on the policy status
  • Q: What is Sahara Life Insurance Premium Calculator?

    Ans: The Sahara Life Insurance Premium Calculator enables people to compare coverage plans online that are issued by the insurer.  This tool requires a few basic details as inputs. Once the parameters are filled in, it calculates the sum assured & premium waivers (if any) that the policyholder would receive after investing in the relevant coverage plan.  In addition to this, specific additional terms and conditions applicable to the chosen policy are also displayed there.  This tool helps the policy buyers to compare multiple plans and subsequently invest in the once that meets both their budget and requirements. The parameters to be entered in the Sahara Life Insurance Premium Calculator include: 
    • Name of the life assured
    • Gender
    • The product offered by the company
    • Age of the life assured
    • Premium type (single premium or regular premium)
    • Frequency of premium payment (yearly, half-yearly, quarterly, monthly, etc.)
    • Policy term
    • The premium that the policyholder be paying towards the plan
  • Q: Are there any possible rebates available on the Sahara Life Insurance plans?

    Ans: Policyholders may avail rebate on specific insurance plans provided by the insurer for Yearly & Half-Yearly mode of premium payments at 3% and 1.5%, respectively. The terms and conditions of the insurer would apply to this.
  • Q:What are the documents needed to be submitted for policy surrender?

    Ans: To surrender a coverage policy, the policyholder must submit the following documents at any Sahara Life Insurance branch office: 
    • Policy bond
    • Policy surrender form
    • Self-attested copy of the ID proof of the policyholder 
    • Bank attested copy of the bank statement/passbook of the policyholder 
    • Any other document, as desired by the insurer
  • Q:On what basis can a claim be rejected by the Sahara India Life Insurance?

    Ans: There are a few circumstances under which the insurance will reject a claim. They are: 
    • The policy had already lapsed by the time the claim was raised 
    • The event for which the claim has been raised is not included in the relevant coverage policy 
    • The loss reported in the claim has not been classified as a loss under the policy

    To avoid any chances of claim rejections, it is essential to read the terms and conditions of the plan carefully, especially the exclusions coming under it. The policyholders should additionally be well-aware of the specifics of a plan before raising a claim.

  • Q:Can the policyholders get a loan under their Sahara Life Insurance plan?

    Ans: There are multiple plans offered by the insurer under which the policyholders may avail loans. However, this can only happen after the coverage plan has reached the surrender value. 
Written By: Paisawiki - Updated: 12 April 2021