It was in the year 2004 that the Sahara India Pariwar entered the Life Insurance industry with the first wholly Indian “Sahara India Life Insurance Company Ltd” in the Private Sector. The main objective of the Company is to reach out across the country to all segments of society not only to the privileged and urban based but to those belonging to the middle class and living in the rural areas as well.
Importance of timely renewal of the policy
Life Insurance is a long- term contract. Life assured has to fulfil his contractual obligation by continuing the payment of premiums throughout the policy term and Insurer has to make the payment on happening of a contingency i.e. either on the date of maturity of the policy or on death if it occurs earlier. If the premium is not paid within the days of grace, the policy shall lapse subject to non–forfeiture Regulations. Grace period of 30 days irrespective of any calendar month in case of Yearly, Half Yearly and quarterly and 15 days in other mode of payment is allowed. In case of lapse policy benefits under the policy gets seized with payment of paid-up benefits only. Thus timely renewal of policy is of utmost importance.
Various channels for renewal collection
- At Branches through Cash, Cheque or Demand Draft
- Online Payments
- Through CSC centers