Sahara Life InsuranceIndia
Sahara Pariwar's has been lured by the insurance business. Their latest venture has been entering the market of Life Insurance business. The life insurance company formed is called Sahara India Life Insurance Company Ltd. It is the first wholly Indian owned Life Insurance Company amongst the private players in the country. Their operation started on October 30, 2004 after receiving the license to operate as a life insurer in India from Insurance Regulatory and Development Authority on February 6, 2004. It was launched with an initial capital base of Rs.157 crores. The company is headed by Shri. Subrata Roy Sahara, who is also the Chairman of Sahara Pariwar.
Sahara India Life Insurance offers a broad array of life insurance products catering to the different needs of the society. Both individual and group Insurance products are designed and offered by the company. It also offers Accident Benefit and Critical Illness Riders. It is armed by the best sales force and support staff to run the business smoothly. Renowned actuarial consultant, M/s. Watson Wyatt Consulting Pvt. Ltd. trains the employees of Sahara on Actuarial VIP software system and other matters including product development and pricing. Sahara India is re-insured by the world renowned Gen Re and Munich Re Insurance Companies.
Sahara's most popular group life plan is the Jan Kalyan Group scheme. This scheme is a term life plan and addresses life insurance needs of the economically weaker sections of the Indian population. The plan also offers Accident benefit which is an added value of the scheme.
The highlight of the individual Sahara India Life Insurance products is the Sahara Sanchay-R scheme. The Sanchay-R is a unit linked plan that combines market linked returns with risk coverage. The scheme is open to any Indian citizen from 14 to 55 years of age. The Sahara Amar Jeevan insurance plan is ideal for people who prefer to live a decent life even after professional retirement. The scheme is open to 25 to 55 years of age.