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Star Union Dai-ichi Life Insurance FAQs

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Highlights
Claim Settlement Ratio95.96%
Death Benefit Paid For1,210 Policies
Inception2009
Presence1,950 Branches
Total Death Benefit PaidRs. 50.47 Crore

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Choose required coverage to secure your family’s future

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Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Benefits

  • What is the significant benefit of the Star Union Dai-ichi Life Insurance term policies?

    Term insurance policies have a lower premium when compared to endowment policies. It is because these policies cover the risk of loss of life alone. However, Star Union Dai-ichi Life Insurance protection plan SUD Abhay offers the choice between life cover and life cover with the return of premiums. It also provides accidental death and total/permanent disability benefits along with this plan.

  • How does the Star Union Dai-ichi Life Insurance retirement policy benefit the customer?

    Star Union Dai-ichi Life Insurance retirement policy ensures guaranteed annual income in the future as you get all the premiums you have paid at the end of the policy term. You also get the benefit of withdrawing a lump sum amount to meet family uncertainties.

  • Are Income Tax benefits available with Star Union Dai-ichi Life Insurance policies?

    Yes, customers get the benefit of income tax deductions as stipulated in Section 80C and Section 10 of the Income Tax Act 1961 on the premium amounts paid for Star Union Dai-ichi Life Insurance Policies.

  • How does Star Union Dai-ichi Life Insurance money back plan benefit the customer?

    Star Union Dai-ichi Life Insurance Guaranteed Money Back Plan offers interim pay-outs at regular, predetermined intervals to help meet your short-term financial requirements.

  • What can I benefit from Star Union Dai-ichi Life Insurance Wealth Plans?

    Customers who are wary of investing in the stock markets and mutual funds can benefit by investing in the various wealth plans offered by Star Union Dai-ichi Life Insurance. The best aspect of these plans is that they provide you with excellent returns while insuring your life at the same time for the entire policy duration.

Claim Settlement

  • Who can lodge the insurance claim in the Star Union Dai-ichi Life Insurance policy?

    The claimant has to be the registered nominee or the assignee. If there is no nominee in Star Union Dai-ichi Life Insurance, the next legal heir can lodge the claim.

  • Is it necessary to submit all the documents listed above in the Star Union Dai-ichi Life Insurance Claim Process?

    No, the documents depend on a case to case basis. However, the Star Union Dai-ichi Life Insurance claimant should submit the necessary documents, whichever is applicable in the individual case.

  • How long does it take for Star Union Dai-ichi Life Insurance to honour the claim?

    Generally, Star Union Dai-ichi Life Insurance claims are processed as quickly as possible. It depends on the accuracy of documents submitted by the claimant. It should not take more than 15 days.

  • How does Star Union Dai-ichi Life Insurance pay the claim amount?

    Star Union Dai-ichi Life Insurance credits the claim amount to the bank account of the claimant/nominee through electronic fund transfer.

  • What does the Star Union Dai-ichi Life Insurance claim settlement ratio signify?

    The Star Union Dai-ichi Life Insurance secures an impressive claim settlement ratio of around 96.96% in FY20. It signifies that the company successfully settled 96.96% of all the claims received by it from claimants/nominees in the financial year 2020.

Overview

  • What distinguishes Star Union Dai-ichi Life Insurance from other insurance companies?

    One of the crucial benefits of Star Union Dai-ichi Life Insurance is its excellent reach. The company reaches out to its more than 64 million customers through the 11,500 plus branches. It also allows a range of flexible payment options.

  • What are the different types of plans offered by Star Union Dai-ichi Life Insurance?

    Star Union Dai-ichi Life Insurance offers a range of customer-friendly insurance plans, like protection plans, child plans, savings plans, wealth plans, group plans, and retirement plans.

  • What are the different aspects of customer service offered by Star Union Dai-ichi Life Insurance?

    Besides offering attractive premium payment options, Star Union Dai-ichi has an excellent grievance redressal system where the company provides the facility to customers to submit their complaints online. As the company is sensitive to its customer's needs, it offers easy escalation options if they are not satisfied with the response.

  • Is it possible to revive a lapsed Star Union Dai-ichi Life Insurance policy?

    One can revive their lapsed Star Union Dai-ichi Life Insurance within six months from the period of the first unpaid premium by paying the due premiums, along with applicable interest. However, suppose more than six months have elapsed since the first unpaid premium. In that case, the policyholder should undergo medical tests and revive the policy by paying the due premiums with applicable interest.

  • Can I pay the premium for my Star Union Dai-ichi Life Insurance plan online?

    Yes, you can log in to the portal and pay the Star Union Dai-ichi Life Insurance policy premium online.

Plan

  • What is the benefit of taking a credit-linked Star Union Dai-ichi Life Insurance Plan?

    A credit-linked life insurance plan proves useful when the insurer dies suddenly before adjusting the loan. The burden of repaying the loan does not fall on the family’s shoulders as the life insurance policy takes care of the repayment.

  • Does Star Union Dai-ichi Life Insurance offer different premium payment options?

    Yes, Star Union Dai-ichi Life offers a range of premium payment options like monthly, annual, single premium, etc. depending on the insurer’s choice.

  • What is unique about the Star Union Dai-ichi Life Abhay protection plan?

    Star Union Dai-ichi Life Abhay is a term insurance plan with a difference. It offers Star Union Dai-ichi Life Insurance an option to get life cover or life cover with the return of premium. Besides, it also provides accident and permanent disability life insurance coverage.

  • Which is the best policy available with Star Union Dai-ichi Life Insurance?

    All the Star Union Dai-ichi Life Insurance policies are designed with customer interest in mind. You can choose the appropriate policy, depending on your requirements, income, and preferences.

  • How do I pay the Star Union Dai-ichi Life Insurance premium?

    Each policy in Star Union Dai-ichi has a defined premium payment procedure. You have to follow it. There are options for you to pay the premium online.

Premium Calculator

  • What factors determine your Star Union Dai-ichi Life Insurance premium?

    Your income, age, insurance term, and premium payment frequency determines your Star Union Dai-ichi Life Insurance premium.

  • What is the ideal age to purchase a Star Union Dai-ichi life insurance policy?

    The earlier you purchase your Star Union Dai-ichi Life Insurance policy, the better it is for you. The premium is lower when you buy the policy at a young age.

  • What effect does the policy term have on the Star Union Dai-ichi premium?

    The more extended the policy term, the less is the Star Union Dai-ichi Life Insurance premium.

  • What is the recommended frequency of Star Union Dai-ichi premium payment?

    You can pay your Star Union Dai-ichi Life Insurance premium in different modes, like monthly, quarterly, half-yearly, annual, or a single lump-sum amount.

  • Why is it necessary to use the Star Union Dai-ichi Life Insurance premium calculator?

    The premium calculator helps to calculate the accurate premium, depending on your income levels and obligations.

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Daiichi Life Insurance User Reviews

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  • I had a great experience with the InsuranceDekho Company. Purchasing a life insurance policy from their websit...

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    Daiichi
    By Ganga Jugran
    On: Jan 02, 2024
  • I got friendly suggestions from the InsuranceDekho as I was unable to select a desired life insurance plan. So...

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    Daiichi
    By Ritika Raj
    On: Jan 23, 2023
  • When I raised a claim against Star Union -SUD Life Assured Income policy on InsuranceDekho, it was settled on ...

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    Daiichi
    By Nivedita Matta
    On: Oct 13, 2022
  • The interface of InsuranceDekho was extremely user-friendly such that even beginners like me were able to use ...

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    By Anamika Kohli
    On: Jul 19, 2022
  • The process of buying was so quick that I felt that buying Star Union -SUD Life Assured Income policy was done...

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    By Shubham Jain
    On: Jun 29, 2022

Claim Process at Star Union Dai-ichi Life Insurance

  • 1

    Claim Intimation

    In the event of the death of the life assured, the insurance company should be intimated as early as possible.
  • 2

    Submission of Documents

    For easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
  • 3

    Claim Evaluation

    After successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.

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