Sahara Life Insurance
Sahara India ventured into the life insurance domain in 2004 and became the first wholly-owned Indian brand to be operating in this sector without any foreign collaboration.
In order to meet the life insurance requirements of every individual, Sahara Life Insurance offers a wide range of Endowment plans, Money-Back plans, Annuity-based plans, Unit-Link plans, and Group Insurance plans. These plans can help meet the financial needs of different age groups and people belonging to different income segments. Apart from the above segment, Sahara India Offers add-on plans such as Accident Benefit and Critical Illness Riders.
In this page, we will be exploring more about the Sahara Life Insurance Company, plan offered by the company and its key features.
What are the Key Features of Sahara Life Insurance?
A decision as serious as investing in life insurance should be given considerable thought. Given that a standard life cover continues for a minimum of 30 years, it is prudent toequip yourself with as much information about the company as possible. While there can be several parameters to judge an insurance provider, there are a few that you cannot overlook. These important parameters are - annual premium income, claim settlement ratio, solvency ratio and the distribution network of the companies.
We at PolicyX.com have carefully examined some of the important factors such as annual premium, claim settlement ratio, solvency ratio and the distribution network of Sahara Life Insurance to make you understand how the company has fared in each of these aspects. Take a look yourself:
Highlights of Sahara Life Insurance Company
| Annual Premium Income | Rs. 1 Lakh |
| Claim Settlement Ratio | 89.45% |
| Solvency ratio | 8.32 |
| No. of Offices | 51 |
1 Sahara India Life Insurance Annual Premium
Annual premium income indicates the earnings generated by a life insurer from the premiums paid by new and existing policyholders. As of FY 2020-21, the company reported an annual premium of Rs. 73.20 Crores as stated in the IRDAI's annual report.
2 Sahara India Life Insurance Claim Settlement Ratio
Claim Settlement Ratio helps you analyse if the insurer can be relied upon in the event that any misfortune may befall you or your family. According to the annual report for FY 2020-21 published by the IRDAI, the CSR of Sahara Life stands at 97.18%. We have further prepared a chart to demonstrate the CSR of Sahara Life over the years.
Year-wise Trend in Sahara Life's Claim Settlement Ratio
***Data from IRDAI Annual Report
3 Sahara India Life Insurance Solvency Ratio
The Solvency Ratio indicates if the insurer has the capital means to fulfill its debt obligations and other financial liabilities. It has been mandated by the IRDAI to maintain a solvency ratio of 1.5 or up for every life insurer to function in the country.As of FY 2020-21, Sahara Life's solvency ratio has been reported to be 9.11.
4 Sahara India Life Insurance Operating Network
The company's reach extends to 51 cities across India. Further, over 80+ business service centres have been established by the company all over the nation to facilitate access to its product offerings.
Product Range of Sahara Life Insurance Company
Sahara Life Insurance products are varied and serve different life insurance needs of people. The list of life insurance policies offered by Sahara Life is indicated in the list below.
| Product Category | Names of Plans |
| Endowment | Sahara Shrestha Nivesh-Jeevan Bima
Sahara Shubh Nivesh-Jeevan Bima
Sahara Dhan Sanchay Jeevan Bima |
| Moneyback | Sahara Pay Back Jeevan Bima
Sahara Dhanviddhi-Jeevan Bima
Sahara Dhanvarsha Jeevan Bima |
| Unit-Linked | Sahara Sanchit Jeevan Bima
Sahara Utkarsh Jeevan Bima
Sahara Sugam Jeevan Bima |
| Annuity | Sahara Sanjeevani |
| Group Insurance | Sahara Smooth Suraksha |
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Sahara India Life Insurance Claim Process
To file a claim at Sahara Life, please call on their toll-free number at 1800-180-9000. Once you get in touch with their customer service agent, (s)he will guide you towards a hassle-free claim settlement. Alternatively, you can visit the nearest branch of Sahara Life Insurance to intimate the company about the claim. If in case you are not happy with the service offered, you could write to them at grievance.life@sahara.in
Further, you have the option to send a mail to Grievance Redressal Officer, Sahara India Life Insurance Co. Ltd, Sahara India Centre, 2, Kapoorthala Complex, Lucknow - 226024 or email at gro.life@sahara.in
I brought a life insurance policy from Sahara Life company for my family and I m happy with my decision. the policy gives good coverage and add-on benefits.