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Star Union Dai-ichi Life Insurance T&Cs

20 reviews Rate This
Claim Settlement Ratio95.96%
Customer Care9:30 AM to 6:30 PM
Death Benefit Paid For1,210 Policies
Presence1,950 Branches
Total Death Benefit PaidRs. 50.47 Crore

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

Star Union Dai-ichi Life Insurance Life T&Cs

Here are some standard terms and conditions in a Star Union Dai-ichi term Insurance policy.

1. Nomination: A nomination is allowed in Star Union Dai-ichi Term Insurance. The policyholder can nominate a person who is eligible to get the policy benefits if the policyholder died before maturity. There is also the option to add another person as a nominee if the nominee dies before the maturity date.

2. Assignment: An assignment is not allowed in term insurance and child insurance policies in Star Union Dai-ichi. This means that the policy benefits cannot be transferred from one person to another.

3. Renew on Time: Renewal of any Star Union Dai-ichi Life Insurance policy is subject to payment of the premiums on time. Renewals can be done via online and offline methods. There is also a grace period which varies according to your premium frequency. If you have a quarterly or half-yearly premium then the grace period is 30 days. If you have a monthly premium then the grace period offered is 15 days.

4. Taxation: All policy payments in Star Union Dai-ichi Term Insurance are subject to Income Tax laws in India. The premium of the policies offer benefits in taxation under Income Tax Section 80 C and 10 D. The premium also contains the cess and all the necessary taxes levied by the government. The maximum premium amount which can be considered for Tax deductions is Rs 1,50,000. Section 10D states that the bonus or the benefits received on the maturity or death benefit of a policy is totally free of taxation.

5. Proper Disclosure: The policyholder should furnish proper evidence regarding age, medical issues (if asked) otherwise the company is open to reducing the policy benefits that would have been received had the right age been provided.

6. Inform Changes: The policyholder should inform the company if there is a change in the occupation, address, contact details, etc.

7. Duplicate Policy Document: If the policy document is lost, the policyholder should inform the company in writing and request a duplicate policy document.

8. Jurisdiction: All T&C Star Union Dai-ichi Term Insurance is governed by and subject to Indian laws. They are subject to change if the Indian laws deem it so.

9. Grievances: In case of any grievances, the policyholder/claimants should follow the grievance redressal procedure also mentioned on the Star Union Dai-ichi website.

10. Exclusive Rights: Star Union Dai-ichi Life Insurance has the exclusive rights to review, revise, delete, or alter the terms and conditions of the policy.

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Daiichi Life Insurance User Reviews

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What users are saying
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  • I got friendly suggestions from the InsuranceDekho as I was unable to select a desired life insurance plan. So...

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    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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    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
  • While I was buying Star Union -SUD Life Assured Income policy from InsuranceDekho, the entire process took so ...

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    By Shreya Banerjee
    On: Jun 28, 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.

Star Union Dai-ichi Life Insurance Contact Details

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