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Tuesday, March 20, 2012

Sahara India Life Insurance introduces new child educational plan.

Sahara India Life Insurance, the first wholly Indian-owned life insurance company in the private sector, has introduced a new child educational plan. The plan is called “The Sahara Vatsalya Jeevan Bima” and has the following features.

- The plan is available for parents aged between 20 to 50 years and for their children aged between 0 – 12 years.

- The educational benefits come when the child is 19 years old. The parents or the policyholders would receive four annual installments – 20%, 25%, 25% and 30% respectively.

- By the time the child is 22 years old, the policy matures and all vested bonuses are paid along with the last installment which is 30% of the educational benefit assured.

- In case of an unfortunate demise of the parent, the sum assured and the vested bonuses would be paid immediately to the nominee.

- The premiums paid are eligible for Income Tax Benefits. The plan also includes accidental benefit and permanent disability benefit rider.

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