Sahara India life insurance is a brand of life insurance sold in India by the conglomerate. It is one of the top ten life insurance companies in India.
Sahara’s product range includes protection plans, which include term plans, whole life plans, and other policies, as well as various annuity products. Sahara Life Insurance offers different types of annuity products that are based on an individual’s requirements, needs, and objectives such as fixed annuities guaranteed return plans, flexible portfolio plans, and long-term care annuities.
The company was founded in 1988 as Sahara India Financial Corporation Limited. It was founded by Subrata Roy who currently serves as chairman and managing director of the company.
What is Sahara India life insurance?
Sahara India life insurance is a term used for a type of policy that provides protection against the risk of death arising from one’s occupation or profession. Getting insured against this risk is important to retain your peace of mind. While many people find it difficult to claim their premature death, others can face heavy financial losses due to this risk.
Sahara India life insurance gives you an opportunity for protection in case you die prematurely. It has been designed as per your needs and covers critical illness, accidental death, and disability.
Is Sahara India still active?
The market is highly competitive, and the industry has a number of insurers. This gives you the advantage of choosing the right company to meet your insurance requirements. The best companies are the ones who offer lifetime cover in spite of economic recession since it offers protection to those who need it most, especially in case they have no younger family members or relatives to take care of their financial affairs.
Is Sahara India under IRDA?
Sahara India is not under the IRDA umbrella, but it is a member of the SLIMS – a private sector insurance association. The insurance body has its head office in Mumbai and has representatives all over the country.
How safe are Sahara India’s life policies?
Most policies that provide life cover do so only through their own company. Therefore, you cannot compare Sahara India life insurance with similar policies offered by other companies. The Insurance Regulatory Development Authority of India (IRDA) conducts regular inspections of insurance companies to ensure they meet industry standards of financial stability and risk management.
Benefits of this insurance
The advantages of buying a Sahara India life insurance product are:
- Best cover in the market
- No transaction charges
- No over banking charges.
- Bank guarantee on claims
- Best after-sales services
- Health check and age-enhancement benefit (Age enhancement plan)
The disadvantages of buying this insurance are:
- High cost compared to other companies
- Long waiting period for claims
- High claim processing charges
- Claim not settled for more than 8 months.
What is a life insurance plan?
A Life insurance plan provides a fixed eligible sum assured along with a sum assured on the death of the insured. In a life insurance plan, the premiums are payable for the whole term and payable in lump sum or annuity. A term policy is usually provided to individuals after maturity at the time of exit from formal education. Term policies are available for both males as well as females. In addition to term insurance, life insurance also has two other types of investment plans and Superannuation plans. Policyholders can apply for all these plans with this company only.
Key facts about Sahara India insurance:
Sahara India has a number of offices across the country, irrespective of location, which includes district centers, local branches, and state centers. This extensive network makes it easy for customers to purchase their products from different branches. Sahara also operates through the internet and mobile phones, as well as through offices located in almost every state.
What happened with Sahara insurance?
The Sahara group has been operating in the Indian insurance industry for more than two decades now. The Sahara Group has an extensive network of over 200,000 agents and distributors. The group has served its customers through over 700 branches across the country.
The life insurance products of the company have been sell under a separate brand name – Sahara India Life Insurance Co Ltd
Sahara India Life Insurance Co Ltd is one of its subsidiaries under the Sahara India Pariwar. The head office of this company is locate in Lucknow and was earlier in New Delhi. It offers various life insurance plans under this brand name. Especially to salary individuals who are interest in buying a policy at a younger age. So that they can secure their future.
What does Sahara India offer in their insurance?
The company offers two different types of products through its website so you can find the right one for your needs. One is a term plan which is a plan that covers premiums for 10 to 15 years and then pays out upon death. The other type is an endowment policy, which builds up cash value over time to fund your retirement or provide monthly income until your death occurs.