The Plan
Children are the purpose of our lives. We would go to any lengths to take care of their requirements even at the cost of our own. Their requirements are spread over a long period of time and therefore need to be planned much in advance. Life insurance is an ideal instrument through which this can be achieved. A flexible plan like this makes it even more attractive for the parents since the required finances would be available to them whenever required for their varied needs like education, marriage or for any other purpose.
The unit linked plan enhances the value of the savings over a period of time and offers choices to the customers to choose the investment plan according to their risk profile and investment horizon at various points during the life of the policy.
The financial markets in the country today are at a very exciting stage with the Indian Economy poised to grow rapidly in the next several years. We at Sahara India Life Insurance Company felt that our policyholders must be part of this excitement and derive direct benefit from the great potential provided by these markets.


Plan Details 

Modes available for premium payment
Single Premium, Yearly, Half-Yearly and Monthly (Group billing only).
Short premium shall not be accepted. If the premium is received in advance the same shall be kept in deposit & adjusted on due date only.

Grace period for non-forfeiture provisions
Grace period of 30 days irrespective of any calendar month will be allowed for payment of yearly and half yearly premiums and 15 days in monthly mode of premiums. In case premium installment is not paid within the grace period and death occurs within this period, the policy will be still valid and the sum assured less partial withdrawals within two years preceding the date of death, if the risk under the policy has commenced, or fund value whichever is higher subject to recovery of mortality charge shall be paid to the claimant. If the risk under the policy has not commenced, the fund value shall be payable.

What happens if the payment of premiums is discontinued?

1. If at least 3 years premiums have been paid-
   Maximum of sum assured reduced by partial withdrawals within two years immediately preceding the death of the life assured or the fund value on the date of receipt of intimation of death in writing in the office of Sahara India Life Insurance Co. Ltd;
2. If premium for less than 3 years have been paid-
   

Switching Option-The policy holder has the option of switching his investments after one year from the date of commencement of policy from one fund to another of his choice at any time during the life of the policy. Two free switches are allowed every policy year. Additional switches are allowed but will be charged at the rate of Rs 100/- per switch.

Method of Calculation of Net Asset Value:
TThe Unit Price (UP) of a fund will be set by dividing the Value of the assets in the fund at the valuation time (at the end of the day) by the number of units. For new business, units will be allocated depending on the price of the units using the closing NAV on the day of cheque realization or policy issue whichever is later. For subsequent payments of premium if cash / local cheque / DD are received in the office of the company by 4:15 p.m., the closing NAV of the day on which premium is received would be applicable. In case premium by local cheque/ DD is received in the company after 4:15 p.m. closing NAV of the next business day shall be applicable. In case of outstation cheque/DD, closing NAV of the day of realization will be applicable.

The Net Asset Value (NAV) of the each of the Funds will be computed at the end of the day (on daily basis). The NAV would be calculated on appropriation basis or expropriation basis depending on whether the company is purchasing or selling the assets in order to meet the day to day transactions of Unit allocations and Unit redemptions. The resulting price will be rounded to the nearest Rs 0.00001. NAV (Appropriation/Expropriation) would be calculated as under:

Net Asset Value(Appropriation price) = Market/Fair value of the fund's investments + Expenses incurred in the purchase of the assets + Value of any current assets + Any accrued income net of fund management charge - the value of any current liabilities less provisions / Number of existing units at the valuation date (before any new units are allocated)

Net Asset Value(Expropriation price)  = Market/Fair value of the fund's investments - Expenses incurred in the sale of the assets + Value of any current assets + Any accrued income net of fund management charge - the value of any current liabilities less provisions/ Number of existing units at the valuation date (before any units are redeemed)

Allocation to the Unit Fund:
The allocable amount as per the allocation rates given below will be invested in the policy fund. In case of first premium, units will be allocated depending on the price of the units using the closing NAV on the day of cheque realization (in case of outstation cheque) or policy issue whichever is later. In case of renewal premium, the units will be allocated depending on the price of units using the closing NAV of the day of collection of cash/ local cheque & day of realization of cheque in case of outstation cheque. For group billing, the units will be allocated based on NAV of the day on which premiums are accounted for under the policy.

Single premium: 97.5%

Regular Premium