Star Union Dai-ichi FAQs
Claim Settlement Ratio | 95.96% |
Death Benefit Paid For | 1,210 Policies |
Presence | 1,950 Branches |
Total Death Benefit Paid | Rs.50.47 Crore |
Term Life Insurance Premium Calculator
Gender
- Male
- Female
Date of Birth
Do you smoke or chew tobacco?
- Yes
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Choose required coverage to secure your family’s future
Best Star Union Dai-ichi Plans
- LIFE COVERTax Free₹1 Cr
- CLAIMS SETTLED ₹99.7%
- Revised Zero Cost Benefit
- Terminal Illness
- Cover Continuance Benefit
- Insta-Payment on Claim Intimation
- Nominee's Choice payout
- LIFE COVERTax Free₹1 Cr
- CLAIMS SETTLED ₹99.2%
- Waiver of Premium on Disability
- Terminal Illness
- Life Stage Benefit
- Special Exit Benefit
- LIFE COVERTax Free₹1 Cr
- CLAIMS SETTLED ₹99.4%
- Terminal illness
- Special Exit - Option to get your premiums back
- Renewability Option
Benefit
What if I do not like my term insurance after buying it? Can I return it?
Yes, you can! You can return your term insurance within 15 days of its purchase as per the free-look period.
Does term insurance at Star Union Dai-ichi come with payout option flexibility?
Yes! You can choose any of the payout options including monthly income, lumpsum, or combination of both.
What are some of the riders that Star Union Dai-ichi Life insurance comes with?
The riders offered by the company are Accidental Death And Total & Permanent Disability Benefit Rider - Traditional, Family Income Benefit Rider - Traditional and COVID - 19 Benefit Rider - Traditional.
Does term insurance at Star Union Dai-ichi come with tax benefits?
Yes! Term insurance at Star Union Dai-ichi comes with tax benefits under Section 80C of the Income Tax Act 1961. Moreover, the death benefit paid to the nominee (in case of unfortunate death) is free from taxes under Section 10 (10D) of the Income Tax Act 1961.
Claim Settement
Who can claim in the Star Union Dai-ichi Life Insurance policy?
The nominee/assignee/appointee or the next legal heir of the deceased Star Union Dai-ichi Life Insurance policyholder can register the claim.
Is it mandatory for every Star Union Dai-ichi Life insurance policy to have a nominee?
Every Star Union Dai-ichi Life Insurance policyholder should nominate a claimant, as it simplifies the claim procedure.
In the absence of a nominee, who can register the claim in Star Union Dai-ichi Life Insurance?
The next legal heir can register the claim in the absence of the nominee of Star Union Dai-ichi Life Insurance policyholder.
To whom does the claim amount belong, the nominee or the next legal heir?
The nominee is a trustee of the funds received through the Star Union Dai-ichi Life Insurance claim. The actual owner of the funds is the next legal heir/s.
Over View
Which term insurance plans does Star Union Dai-ichi Life Insurance provide?
Star Union Dai-ichi Abhay Term Insurance Plan and Star Union Dai-ichi Saral Jeevan Bima Plan are the two term plans offered by the company at reasonable premium rates.
What is the free-look period for term plans at Star Union Dai-ichi Life Insurance?
The free-look period for cancelling a term plan is 15 days. The free-look period is 30 days in case the policy has been purchased through distance marketing mode.
What are the premium paying terms that I can choose from for my Star Union Dai-ichi term insurance?
The premium paying term options associated with term insurance at Star Union Dai-ichi are single premium, regular premium and limited premium.
What is the grace period for Star Union Dai-ichi term insurance?
The grace period for policy renewal payment is 30 days in the case of yearly, half yearly, quarterly mode. Note that the grace period is 15 days for monthly mode.
Plans
Who can avail Star Union Dai-ichi Life Insurance Term Insurance?
Any individual between 18 and 65 years can purchase Star Union Dai-ichi Abhay.
What are the minimum and maximum sums assured in Star Union Dai-ichi Abhay?
Star Union Dai-ichi Abhay offers a minimum sum assured of Rs.50 lakhs, with the maximum cover extending up to Rs.100 crores.
What are the minimum and maximum policy terms in Star Union Dai-ichi Life Insurance Term Insurance?
The minimum policy term is 15 years, with the maximum being 40 years in Star Union Dai-ichi Life Insurance Term Insurance.
How can you pay the premium for Star Union Dai-ichi Abhay?
Star Union Dai-ichi Abhay Policyholders have an option to choose between a single premium payment, regular premium, or a limited premium for 5/10/15 years.
Premium Calculator
What factors determine the premium amount of Star Union Dai-ichi Life Insurance?
The sum assured, policy term, pay-out options, and the age of the policyholder determine the Star Union Dai-ichi Life Insurance premium amount.
Which is a better premium option, single premium or monthly premium in Star Union Dai-ichi Life Insurance?
It depends on a case to case basis. Generally, the monthly payment option is the best in Star Union Dai-ichi Life Insurance. But if a person doesn’t have a fixed monthly income, then a single premium may be a better option.
What is the return of premiums in SUD Abhay policy?
SUD Abhay policy offers three pay-out options. The advantage is the return of premiums along with life cover.
Is there a difference in the premium amount if you choose to receive life cover with the return of premiums in Star Union Dai-ichi Life Insurance?
Yes, the premium amount is more than no-return of premium policies in Star Union Dai-ichi Life Insurance.
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