Sahara India Life Insurance and Career Opportunity 21 January 2019

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Sahara India Life Insurance and Career Opportunity: As we all know that the insurance industry in India is at the crossroads of development. For any country and its economic development, having a well-developed insurance sector that is evolving is definitely great news. Development of the insurance industry in India also creates a wide range of career opportunities for job seekers in the insurance industry. In order to grab these opportunities, one should first study about leading insurance companies and how they work. So, In this article, we are going to see about Sahara India Life Insurance & its Management, Financial Details, Products, Services and Network.

Sahara India Life Insurance – Overview

Sahara India Life Insurance Company Ltd (SILCL) is the first completely Indian owned life insurance company in the private sector. After receiving its license from 06th February 2004, SILCL initiated its operations on 30th October 2004. The insurer launched its business with a paid-up capital amounting to INR 157 crores. Sahara India Life Insurance operates with a team of committed and properly trained professionals who focus especially 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 in order to satisfy the requirements of various economic and age-based client groups. The customer support and services set-up of the insurer is quick and also provides a proper standard of services as well. The officials at Sahara Life Insurance are trained not only in the nuances of actuarial VIP software systems but also other important areas like product pricing and development by Watson Wyatt Consulting Private Limited. It is one of the leading names in this industry.

Presently, 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 one of the leading business houses in the country with interests in diverse businesses such as finance, infrastructure and housing, consumer merchandise retail venture, media and entertainment, manufacturing, and information technology.

Sahara India Life Insurance Management

Here is the list of the Board of Directors at Sahara India Life Insurance Company Ltd (SILCL) :

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

Senior Officials of the Sahara India Life Insurance are listed in the table given below:

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

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 the 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 Sahara India Life Insurance Company Ltd (SILCL) could be mentioned as below:

• Endowment: Sahara Nidhi, Sahara Umang, Sahara Sahyog, Sahara Vatsalya-Jeevan Bima and Sahara Nivesh – Jeevan Bima.
• Money Back: Sahara Sampannand  Sahara Samriddhi.
• Unit Link: Sahara Utkarsh – Jeevan Bima, Sahara Sugam – Jeevan Bima, Sahara Sanchit – Jeevan Bima and Sahara Shikhar – Jeevan Bima.
• Group Insurance: Sahara Jan Kalyan, Sahara Samooh Suraksha and Sahara Jamakarta Samooh Bima.
• Riders: Sahara Critical Illness Rider
• Pension: Sahara Swabhimaan and Sahara Amar Jeevan.
• Children: Sahara Ankur
• Term Assurance: Sahara Kavach

Sahara Life Insurance offers accidental benefit riders in addition to the above-mentioned products. Sahara Kavach can be represented as a proper term policy that pays a considerable 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 in order to satisfy the various financial requirements at different points in policyholder’s life. In the case of Sahara Sampann, the policyholder receives an additional benefit after a five year period whereby his or her risk cover is increased. This plan not only offers tax exemptions but also safety returns as well.

Sahara Ankur is primarily a child plan that not only unit linked but also invests in different funds in order to provide the policyholder good value for his or her money. The policyholders have the choice to put their money where they would want to be based on their risk profile. Sahara Umang allows the policyholders to be sure of being provided fiscal protection in case of death as long as the plan is in operation. In case the policyholder is not dead 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 Nidhi allows the policyholders to save sufficient funds that can be used in the future for investment purposes or repaying loans.

Sahara Sugam offers not only an unprecedented combination of returns that are linked to the market but also coverage against risks. Sahara Amar Jeevan is a pension plan which follows the principle of the deferred annuity. It allows the policyholder to save smaller sums which can be used for meeting requirements later on in life. Sahara Utkarsh is also a unit linked plan but it includes risk coverage facilities too. The plan not only covers all the basic requirements of a life insurance policy but also enables the customers to earn more as the policy becomes older. Sahara Shikhar allows the policyholders to see the worth of their savings going up over a specified period of time. The policyholder has also the choice of their investment plans as per their risk profile and investment aims and policies. The choices are allowed to differ at different points in the policy’s term period.

Sahara India Life Insurance Office Network

Sahara India Life Insurance has its corporate offices at following locations:

• 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

We hope that this article will not only help you to get information about Sahara India Life Insurance but also provide you detailed guidance in order to pursue a career in the insurance industry. For more Government & Private Jobs related articles, keep visiting www.govtjob.desi.