- About Coverfox
Part of the Sahara Pariwar, Sahara Life provides Life Insurance plans since the approval of License in India. Sahara India Life Insurance Company Ltd. has been approved by IRDA and was granted License on 6th February 2004.
In 2004, Sahara Life became the first purely Indian Life Insurance company.
With the approval of License, Sahara India Life Insurance Company Ltd became the first wholly and purely Indian company. Without any foreign collaboration entered the Indian Life insurance market. Sahara Life commenced their operations in October, 2004. Sahara Life Insurance offers individual and Group plans to cater different needs.
Following Documents are required along with the filled Forms:
Sahara Life, first wholly Indian Life Insurance Company in the Private Sector. Since the launch of their operations in the month of October 2004, the company has been providing a wide range of Life insurance products for individuals and groups. Sahara Life Term plan is a low cost effective plan to secure family.
What if I’m unable to pay premiums on time?
There is a grace period of 30 days. However, it is advisable to pay before due dates to avoid policy termination.
Is there a Grace period in case of premiums not paid on time?
There is a Grace period of 30 days in case of yearly, half-yearly, and quarterly premium mode. For monthly premiums mode grace period is 15 days.
What if the life insured dies during Grace period ?
The policy will be still valid and in force. Thus, the sum assured shall be paid to the nominee. But after the deduction of outstanding premiums till the next policy anniversary.
Is there any policy Surrender Benefit?
No. There is no Surrender Value.
What if I couldn’t pay the premiums and got discontinued?
After the Grace period, if the policy terminates. However, the policy can be revived within 5 years from the due date of first unpaid premium.