About Star Union Dai-ichi Life Abhay Term Insurance
SUD Life Abhay is a non-participating, protection plan. This term insurance plan provides financial protection to your family in case of your unforeseen demise during the policy term. SUD Life Abhay provides comprehensive protection at nominal premium price. SUD Life Abhay provides financial security to your family under difficult circumstances such as your unfortunate demise during the policy tenure. This plan has two benefit options namely Life Cover and Life Cover with Return or Premium. Under this plan you get the flexibility to choose the policy term and the premium payment term. SUD Life Abhay plan has multiple death benefit payout options namely lump sum, monthly income, and lump sum plus monthly income.
SUD Life Abhay plan can help you ensure financial protection of your family in your absence, the death benefit can help your family fulfill their immediate financial obligations and fulfill their dreams even in your absence.
Key Inclusions and Exclusions of the Plan
- Unforeseen Demise
- Accidental Death
- Accidental Total and Permanent Rider
- Coverage Upto 80 Years (Last Birthday)
- Maximum Life Cover of Rs 100 Crore
What's Not Included
- Suicide within First 12 Months of the Policy Tenure
- Participation in a criminal or unlawful act
- Injuries caused in war, civil war, terrorist activity, etc.
- Over Consumption of Alcohol/Drugs
- Participation in Adventurous Activities
Claim Process at Star Union Dai-ichi
Claim IntimationIn the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
Submission of DocumentsClaim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
Claim EvaluationOnce the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
Claim SettlementIf claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.
FAQs on Life Abhay Plan Health Insurance Plan
Why should I purchase the SUD Life Abhay plan?
SUD Life Abhay is an affordable term insurance plan, which provides financial protection to the family of the life assured during difficult circumstances. Under one of the plan options a guaranteed maturity benefit is provided in case you survive the entire policy tenure. This plan offers flexibility to choose the policy term and premium payment term. SUD Life Abhay has multiple death benefit payout options.
Is a policy loan available under the SUD Life Abhay plan?
No policy loan facility is not available under the SUD Life Abhay plan.
What is the minimum and maximum basic sum assured under SUD Life Abhay plan?
The minimum basic sum assured for SUD Life Abhay plan is Rs. 50 Lakh and maximum basic sum assured for this plan is Rs. 100 Crore.
What is the maximum coverage period of the SUD Life Abhay plan?
The coverage period for SUD Life Abhay plan is 15-40 years and for the limited pay option of 15 years the maximum coverage period is 20 years.
What are the documents required to purchase SUD Life Abhay plan?
Following is the list of documents which necessary while purchasing the SUD Life Abhay plan:
- KYC Documents (Aadhaar Card, Pan Card, Voter ID Card, Passport etc.)
- Address proof such as Electricity Bill, Gas Bill, Water Bill etc.
- Salary slips
- Medical Examination (Recent)
- Passport Size Photographs
- Duly filled and signed proposal form