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Star Union Dai-ichi Plans

23 reviews Rate This
Star Union Dai-ichi
Highlights
Claim Settlement Ratio95.96%
Death Benefit Paid For1,210 Policies
Presence1,950 Branches
Total Death Benefit PaidRs.50.47 Crore

Star Union Dai-ichi Life Insurance is a late entrant in the insurance market in India. The company was founded in 2009. This joint venture between Dai-ichi Life Holdings, Bank of India, and Union Bank of India became popular in the last eleven years to attract more than 9.2 million customers. Under its massive array of insurance plans, Star Union Dai-ichi Life Insurance offers two term insurance plans or protection plans. The term insurance plans offered help the policyholder secure their loved ones financially in their absence.

Star Union Dai-ichi Term Insurance Plans

Star Union Dai-ichi Life Insurance offers two term insurance plans, namely:

  • Star Union Dai-ichi Abhay Term Insurance Plan: Star Union Dai-ichi Life Insurance offers a unique term insurance product in Star Union Dai-ichi Abhay. Though it is a term insurance plan, it provides three excellent pay-out options. The options include, life cover, life cover with return of premiums, and additional riders like accidental death and permanent disability. The USP of this term insurance product is that it offers an option for the insurance holder to choose life cover with the return of premiums. However, the premium under such circumstances would be different when compared to the regular term insurance policy. You have the option to add individual riders that provide cover for accidental death or permanent disability due to an accident. This rider also comes at a cost.

  • Star Union Dai-ichi Saral Jeevan Bima Plan: Star Union Dai-ichi Saral Jeevan Bima Plan offers long term insurance protection to your loved ones. SUD Life Saral Jeevan Bima is a non-linked, non-participating, individual pure risk premium life insurance plan. A reliable protection plan that helps your loved ones stay financially safe even when you are not there, SUD Life Saral Jeevan Bima that offers protection for your family in case of an unfortunate death. This plan is a standard, individual term life insurance product, with simple features and easy to understand terms and conditions.
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Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Best Star Union Dai-ichi Plans

1 Crore
1.5 Crore
2 Crore
2.5 Crore
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹99.51%
Starting From ₹ 682/Month
Claim Settlement
Key Features:
  • Right Green Tick Zero Cost Benefit
  • Right Green Tick Terminal Illness
  • Right Green Tick Nominee's Choice payout
  • Right Green Tick Voluntary Top Up
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹95.28%
Starting From ₹ 812/Month
Claim Settlement 24hr Claim Settlement
Key Features:
  • Right Green Tick Waiver of Premium on Disability
  • Right Green Tick Terminal Illness
  • Right Green Tick Life Stage Benefit
  • Right Green Tick Special Exit Benefit
  • LIFE COVER
    Tax Free
     ₹1 Cr
  • CLAIMS SETTLED ₹99.39%
Starting From ₹ 771/Month
Claim Settlement 24hr Claim Settlement
Key Features:
  • Right Green Tick Terminal illness
  • Right Green Tick Special Exit - Option to get your premiums back
  • Right Green Tick Renewability Option
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User Reviews

4.9
Rating based on
23 User reviews
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What users are saying
  • All
  • Comfortable Process

    It was so easy and convenient to compare and buy term insurance online. I bought the Star Union Dal-Ichi term life insurance plan from the website of InsuranceDekho. Their online premium calculator was a savior.

    Read More

    B
    Star Union Dai-ichi
    By Bhavika Raghav
    On: Jan 02, 2024
  • Easy to use website

    I was easily able to use the InsuranceDekho website when I was buying Star Union- SUD Life Abhay plan from InsuranceDekho. The website is well designed that’s why I was easily able to buy Star Union- SUD Life Abhay plan through the website.

    Read More

    K
    Star Union Dai-ichi
    By Krish Malhotra
    On: Jan 23, 2023
  • Experienced utmost customer sa...

    While I was buying Star Union- SUD Life Abhay plan from InsuranceDekho, I experienced the utmost customer satisfaction. The expert from the InsuranceDekho team even helped me in understanding the benefits of the Star Union- SUD Life Abhay plan.

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    A
    Star Union Dai-ichi
    By Arohi Verma
    On: Oct 13, 2022
  • Little paperwork involved

    There was no paperwork involved when I was buying Star Union- SUD Life Abhay plans from InsuranceDekho. As the entire process was online, there was no need of submitting the documents elsewhere and I was able to do everything from the comfort of my home. 

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    N
    Star Union Dai-ichi
    By Neha Kashyap
    On: Aug 09, 2022
  • Offers wide coverage

    I decided to buy Star Union- SUD Life Abhay plans from InsuranceDekho as this plan offered wide coverage. This plan also had so many additional benefits that I was easily convinced to buy - from InsuranceDekho. So, if you to are on the lookout for buying a good term plan, then simply go for Star Union- SUD Life Abhay plan. 

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    A
    Star Union Dai-ichi
    By Aditya Deshmukh
    On: Aug 04, 2022
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Star Union Dai-ichi Contact Details

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Claim Process at Star Union Dai-ichi

  • 1

    Claim Intimation

    In the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
  • 2

    Submission of Documents

    Claim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
  • 3

    Claim Evaluation

    Once the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.

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FAQs

  • Does Star Union Dai-ichi Life Insurance have a high claim settlement ratio?

    The claim settlement ratio or CSR for Star Union Dai-ichi Life Insurance for the FY 2019-20 is 96.96%.

  • 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.

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