Sahara India Life Insurance

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Sahara India Life Insurance- Overview

Sahara India Life Insurance Company Ltd (SILCL) is the first totally Indian owned life insurer in the private sector. SILCL started its operations on October 30, 2004 after receiving its license from February 6, 2004. The organization launched its business with a paid up capital amounting to INR 157 crores.

Sahara India Life Insurance enjoys a pan Indian presence. It operates with a team of committed and properly trained professionals who focus specially on the rural areas as well as the regions with less than the ideal amount of economic progress.

The organization offers a competitive group of products that are capable of catering to the requirements of various economic and age based client groups. The customer support and services set-up of the insurer is quick and provides a proper standard of services.

The officials at Sahara Life Insurance are trained in the nuances of actuarial VIP software systems as well as other important areas such as product pricing and development by Watson Wyatt Consulting Private Limited, one of the leading names in this industry.

At present Munich RE Insurance and Gen Re operate as the reinsurance partners of the organization. It is a part of the Sahara India Pariwar, which is among the leading business houses in the country with interests in diverse businesses such as finance, consumer merchandise retail venture, infrastructure and housing, manufacturing, media and entertainment, and information technology.

Sahara India Life Insurance Management

The board of directors at SILCL comprises the following:

Name Designation
Subrata Roy Sahara Chairman
Prabha Shankar Mishra Director
Swapna Roy Director
AC Mukherjee Director
OP Srivastava Director
NP Bali Director
Amitabh Ghosh Director

Following are the senior officials of the organization:

Name Designation
NP Bali Chief Executive Officer(Officiating) and Director, Chief Business Development Officer, and Chief Marketing Officer
Sanjay Agarwal Chief Financial Officer
Pravir Chandra Appointed Actuary
Parakh Tandon Company Secretary, Grievance Redressal Officer, and Compliance Officer
S Rajagopalan Chief Investment Officer

Sahara India Life Insurance Financial Details

The following table represents the profit and loss details of SILCL in the first quarter of the 2012-13 fiscal:

Domain Figures in INR thousands
Income from gross interest, rent, and dividend 47,607
Profit on redemption and sale of investments 2859
Other income 45
Expenses unrelated to insurance business 165
Transfers to policyholders' funds 11,386
Profit'(loss) prior to taxation 37,793
Provision for taxation 5,352
Profit'(loss) following taxation 32,441
Balance at the start of the financial year 649,047
Profits carried to the balance sheet 681,488

Sahara India Life Insurance Products and Services

The insurance plans offered by SILCL may be enumerated as below:


  • Sahara Nivesh - Jeevan Bima
  • Sahara Sahyog
  • Sahara Vatsalya-Jeevan Bima
  • Sahara Umang
  • Sahara Nidhi

Money Back

  • Sahara Samriddhi
  • Sahara Sampann

Unit Link

  • Sahara Sanchit - Jeevan Bima
  • Sahara Shikhar - Jeevan Bima
  • Sahara Utkarsh - Jeevan Bima
  • Sahara Sugam - Jeevan Bima

Group Insurance

  • Sahara Jamakarta Samooh Bima
  • Sahara Jan Kalyan
  • Sahara Samooh Suraksha


  • Sahara Critical Illness Rider


  • Sahara Amar Jeevan
  • Sahara Swabhimaan


  • Sahara Ankur

Term Assurance

  • Sahara Kavach
In addition to the above mentioned products, Sahara Life Insurance offers accidental benefit riders. Sahara Kavach can be described as a proper term policy that pays a substantial amount of risk cover in exchange for a small premium. The family is secured when the policyholder passes away.

Sahara Samriddhi is a money back plan where the funds are provided back to the holder at definite times so that he or she can satisfy the various financial requirements at different points in his or her life.

In case of Sahara Sampann, the policyholder receives an additional benefit after a 5 year period whereby his or her risk cover is increased. This plan also offers tax exemptions and safety returns.

With Sahara Nidhi, the policyholders are able to save sufficient funds that can be used in the future for investment purposes or repaying loans. With Sahara Umang, the policyholders can be sure of being provided fiscal protection in case of death as long as the plan is in operation. In case the policyholder is alive when the policy ends he or she is paid a lump sum.

The Sahara Umang plan is for proposers with sufficient funds for investment but a greater need to protect the family. Sahara Ankur is primarily a child plan that is unit linked and invests in different funds to provide the policyholder good value for his or her money. The policyholders can themselves choose where they would want to put their money based on their risk profile.

Sahara Utkarsh is a unit linked plan as well but includes risk coverage facilities too. The plan covers all the basic requirements of a life insurance policy and enables the customers to earn more as and when the policy becomes older.

With Sahara Shikhar, the insured can see the worth of their savings going up over a specified period of time - they can also choose their investment plans as per their risk profile and investment aims and policies. The choices are allowed to vary at different points in the policy's term period.

Sahara Sugam, a unit linked plan, offers an unprecedented combination of returns that are linked to the market as well as coverage against risks. Sahara Amar Jeevan is a pension plan that follows the principle of deferred annuity. It enables the policyholder to save smaller sums that can be used for meeting requirements later on in life.

Sahara India Life Insurance Office Network

Following are the locations where Sahara India Life Insurance has its corporate offices:

  • Central India: Bahraich, Sant Kabir Nagar, Basti, Varanasi, Gorakhpur, Lucknow, Jaipur, Bhopal, Jodhpur, Allahabad, Bareilly, Kanpur, Indore, Udaipur, Raipur, Faizabad, Agra, Ajmer, Ballia, Deoria, Jabalpur, Kota, Sultanpur
  • Eastern India: Howrah, Patna, Muzaffarpur, Guwahati, Bhubaneshwar, Ranchi, Kolkata, Jamshedpur, Siwan, Bokaro, Darbhanga, Hazaribagh, Bihar Sharif, Samastipur, Siliguri
  • Northern India: New Delhi, Faridabad, Chandigarh, Dehradun, Ludhiana
  • Southern India: Hyderabad, Chennai, Bangalore, Vishakhapatnam
  • Western India: Baroda, Mumbai, Ahmedabad

Sahara India Life Insurance Contact Details

Following are the contact details of the registered office of SILCL:

Command Office
Sahara India Bhawan,
1, Kapoorthala Complex, Aliganj,
Lucknow- 226024
Telephone Number: 0522-2337777
Fax: 0522 - 2378200

Last Updated on 09/11/2012

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