Star Union Dai-ichi Life Abhay Term Insurance Benefits
|Claim Settlement Ratio||95.96%|
|Death Benefit Paid For||1,210 Policies|
|Total Death Benefit Paid||Rs.50.47 Crore|
SUD Life Abhay Benefits
SUD Life Abhay is an affordable term insurance plan, which provides financial protection to the family of the life assured during difficult circumstances. Below mentioned are some benefits of purchasing SUD Life Abhay plan:
1. Financial Assistance: SUD Life Abhay is a comprehensive protection plan which provides financial assistance to your family under unforeseen circumstances such as your sudden demise during the policy tenure. A death benefit shall be provided to the nominee, in case of your unforeseen demise during the policy term. The death benefit can provide financial assistance to your family, which can help them fulfil their daily expenses and follow their dreams even in your absence.
2. Return of Premium: Under the Life Cover with Return of Premium plan option total premium paid excluding the taxes, extra premium and rider premium (if any) shall be provided to you at the time of maturity. In case you survive the entire policy tenure, a guaranteed maturity benefit shall be provided at the end of the policy term.
3. Enhanced Coverage with Rider: Under the SUD Life Abhay plan you can enhance the base coverage of your policy by adding a rider. Under this plan you have the option to add the SUD Accidental Death and Total & Permanent Disability Benefit Rider - Traditional.
4. Multiple Death Benefit Payout Option: SUD Life Abhay plan has multiple death benefit payout options available which are Lump Sum, Monthly Income and Lump Sum Plus Monthly Income. The nominee can choose from the multiple death benefit payout option according to their requirements. Under the lump sum option, the death benefit shall be provided as lump sum. Monthly income option provides 1% of the death benefit as monthly income for 125 months starting after the first month from the date of demise. Under the lump sum plus monthly income 50% of the death benefit shall be provided as lump sum and the remainder shall be provided as 0.50% as monthly income for 125 months starting after the first month from the date of demise.
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
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