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Star Union Dai-ichi Life Insurance

Star Union Dai-ichi Life Insurance Co. Ltd. (SUD Life) is a joint venture (JV) of Bank of India, Union Bank of India and Dai-ichi Life. Dai-ichi Life - a leading life insurance company of Japan.

‘Best Life Insurance Company in Private Sector’ by ABP News at BFSI Awards

Dai-ichi is one of the top ten life insurers in the world. Star Union Dai-ichi with the strength of its domestic partners - Bank of India and Union Bank of India, and Dai-ichi’s life insurance expertise provides a range of life insurance products to cater different requirements of customers. Dai-ichi offers variants of life isnurance products including a term insurance plan to cater different segment of customers.

Interesting Facts about Star Union Dai-ichi Life Insurance

  • Domestic Banking service expertise meets with international insurance provider
  • In 2015, received ‘Best Life Insurance Company in Private Sector' by ABP News at BFSI Awards.
  • Dia-ichi commenced in 1902 and since then it has become life insurance provider in 7 countries.

Benefits of Buying

  • Financial Protection - Provides financial protection to your family.
  • Flexibility - Flexibility in paying premiums and payouts.
  • Multiple Options - Choose from multiple options that suits best to your requirements.
  • Claim Settlement - Quick and hassle-free claim settlement service

Types of Star Union Dai-ichi Plan

Star Union Dai-ichi Life insurance offers range of life insurance products with variants to provide financial protection against life’s uncertainties.

Plans offered:

1. Star Union Dai-ichi Unit Linked Insurance Plans (ULIP)

2. Star Union Dai-ichi Term Insurance

3. Star Union Dai-ichi Savings Plans

4. Star Union Dai-ichi Investment Plans

5. Star Union Dai-ichi Retirement Plans

6. Star Union Dai-ichi Child Plans

Star Union Dai-ichi Unit Linked Insurance Plans (ULIPs)

ULIPs are financial product that provides life cover and an opportunity of investment. ULIPS are the combination of market linked investment and life insurance. The part of the premiums are invested in building funds for future by investing in market - equity, debts, hybrid, based on the investor's choice, and part of the premiums for providing life cover.

Features of ULIPs

  • The best of both the world- insurance and investment in one basket
  • Part of the premiums are invested while other part is used for providing the coverage
  • Each plan offers returns on maturity
  • In case of death of the investor, the sum assured is paid to the nominee
  • Option to surrender or partially withdraw ULIPs
  • Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Star Union Dai-ichi offers Types of ULIPs

Star Union Dai-ichi Life Dhan Suraksha Plus

This plan offer the choice of 4 funds to invest. This plan offers protection and investment opportunity with multiple options of premium redirection and switching. Options to choose regular or limited premium payment. Offers fund value as a survival benefit and sum assured or fund value or 105% of premiums paid, whicher is higher is paid to the nominee as a death benefit.

Star Union Dai-ichi Life Wealth Builder Plan

A unit-linked life insurance plan that offers growth with one-time investment. Offers options to invest in 4 funds. Policy term can be 5 to 30 years. Under this plan you get an Top-up option to to build capital. Offers fund value as a survival benefit and sum assured or fund value or 105% of premiums paid, whicher is higher is paid to the nominee as a death benefit.

Star Union Dai-ichi Life Protection Plan

Term plan is pure death benefit plan. In an unfortunate event of the life assured, the nominee receives the sum assured, in this way the breadwinner can ensure that the family stays financially secure. Star Union Dai-ichi different types of Term Plan and one can include riders to expand the coverage of the base policy.

Features of Term Insurance

  • Pure life cover
  • High sum assured at low premiums
  • Family financial protection
  • In case of death of the life assured, the sum assured is paid to the nominee
  • Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Star Union Dai-ichi offers Types of Term Insurance

  • Star Union Dai-ichi Life Premier Protection Plan

This plan offers a minimum sum assured of Rs. 25 lakh. A perfect comprehensive term plan with policy term that can be 10 to 30 years. Offers rebates for higher sum assured.

  • Star Union Dai-ichi Life Family Income Benefit Rider

This is an add-on benefit plan to the basic term plan. Can be bought when purchasing the base plan or at the time of policy renewal. Offers single, regular and limited premium payment options. The minimum sum assured is Rs. 1 lakh and maximum is Rs. 50 lakh. In case of an unfortunate demise of life assured the nominee or the legal heir will receive 10% of sum assured every year for a duration of 10 years.

  • Star Union Dai-ichi Life Accidental Death and Total & Permanent Disability Benefit Rider

With the help of this rider, the nominee receives 100% rider benefit sum assured, if the life assured passes away due to the accident.

If accident causes total and permanent disability to the life assured, Star Union Dai-ichi will pay rider sum assured in 10 equal half-yearly installments . The amount will be equal to the 10% of the rider sum assured benefit.

Star Union Dai-ichi Savings Plans

The savings plans Star Union Dai-ichi offers insurance with savings. With the help savings plans, the family is not only protected against the financial loss in case of the breadwinner's passing away but also helps an individual to build funds for short and long term goals.

Features of Savings Plans

  • Life coverage plus opportunity of savings
  • Family financial protection
  • Build funds for short and long term goals
  • In case of death of the life assured, the sum assured is paid to the nominee
  • Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Star Union Dai-ichi Life offers Types of Savings Plan

Star Union Dai-ichi Life Guaranteed Money Back Plan

Offers short term payouts. For every five years till the policy ends, guaranteed money back of 200% of annualised premium. Guaranteed lump sum at the end of policy term. Policy term can be 10/15/20 years. Fixed premium payment term of 10 years with regular pay. Sum assured of R.s 3 lakh to Rs. 10 crore.

Star Union Dai-ichi Life Jeevan Ashray

For a policy term of 20 years offers a guaranteed benefit up to 120% of sum assured on maturity and 115% for 15 years policy. Premium payment term can be regular throughout the policy term or limited premium payment 10 or 15 years. Basic sum assured can be minimum of Rs.2 lakh and maximum of Rs.50 lakh. Policy term can be 15 or 20 years.

Star Union Dai-ichi Life Aayushmaan

Provides lifelong protection. Policy term can be 15,20,25 or 30 years. On survival till the end of policy term, maturity benefits will be paid. After receiving maturity benefits, the policyholder will receive extended life cover equal to the basic sum assured.

Star Union Dai-ichi Life Aadarsh

Offers guaranteed maturity benefits equal to the basic sum assured. Offers a solid short term return plan with a life cover for a term of 10 years with a fixed limited premium payment term of 5 years. Choose the basic sum assured from three options - Rs.50,000, Rs.3 lakh, and Rs.5 lakh.

Star Union Dai-ichi Life Praptee

A non-linked, non-participating plan that offers money back, protection and savings. Offers increasing money back payouts at regular interval of 3 years. The minimum basic sum assured is Rs. 2.5 lakh. Option to choose policy term as 12, 15 or 18 years while the payment term can be 6, 8 or 10 years.

Star Union Dai-ichi Wealth Plans

This plans focused on providing coverage with the opportunity to build funds by investing. An individual can fulfill their financial goals with their current resources. Offers link and non-linked plans to cater different needs. Investment plan helps you and your family to sustain thick and thin of life. With investment plans, one can meet long term financial goals and fulfill dreams while stays protected.

Features of Investment Plans

  • Life coverage plus opportunity of investments
  • Financial protection
  • Meet long term financial goals
  • Option to choose from unit-linked and non-linking
  • In case of death of the life assured, the sum assured is paid to the nominee
  • Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Star Union Dai-ichi offers Types of Investment Plan

Star Union Dai-ichi Life Dhan Suraksha Plus

This plan offer the choice of 4 funds to invest. This plan offers protection and investment opportunity with multiple options of premium redirection and switching. Options to choose regular or limited premium payment. Offers fund value as a survival benefit and sum assured or fund value or 105% of premiums paid, whicher is higher is paid to the nominee as a death benefit.

Star Union Dai-ichi Life Elite Assure Plan

A unit-linked life insurance plan that offers growth with one-time investment. Offers options to invest in 4 funds. Policy term can be 5 to 30 years. Under this plan you get an Top-up option to to build capital. Offers fund value as a survival benefit and sum assured or fund value or 105% of premiums paid, whicher is higher is paid to the nominee as a death benefit.

Star Union Dai-ichi Life Wealth Builder Plan

Offers to build supplementing future income and provides protection. Offers two plan options as 5-5-5 and 7-7-7 as premium payment, accumulation of funds, and payout period. Option to choose monthly benefit. Annual income 5 times of monthly income. On maturtiy, lump sum amount of upto 40 times in case of 5-5-5 of the monthly income and 60 times of the monthly income in case of 7-7-7 plan.

Star Union Dai-ichi Retirement Plans

A retirement plan is a way of systematic savings. This will help in building funds for your retirement. As increase in the expenses and inflation hinders in savings and would make difficult to continue the same lifestyle post retirement this plan ensures you continue to maintain your lifestyle.

Features of Retirement Plans

  • Life coverage plus opportunity of building funds for retirement
  • Meet retirement goals
  • Option to choose from different variants
  • In case of death of the life assured, the annuity is paid to the spouse
  • Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Star Union Dai-ichi offers Types of Retirement Plan

Star Union Dai-ichi Life Assured Income Plan

Offers guaranteed tax free annual income with all premiums back. Offers lump sum and regular income facility of cash inflow with payout period as 10/15/20 or 25 years. Fixed premium payment term of 10 or 15 years. Policy period include premium payment period plus payout period plus deferment period (if any).Maturity benefit is return of the total premiums paid.

Star Union Dai-ichi Life Immediate Annuity Plus

A perfect traditional non-linked, non-participating immediate annuity plan. Offers lifelong income with 2 plan options with variants. With wide range of annuity option to choose and an option of choosing joint life annuity, this plan can be bought with a single one-time payment of minimum Rs.1 lakh.

Star Union Dai-ichi Life Guaranteed Pension

A perfect non-linked and non-participating deferred pension plan. Guaranteed additions and assured pay-out in case of death of the life assured. No medicals while enrolling. Policy term can be 5/10/15/20 and premium payment term can be single or 5/10/15 years.

Star Union Dai-ichi Child Plans

To secure your child’s future and to fulfil all their dreams, this plan offers an opportunity to build funds. With this plan you can now build corpus for child’s education and marriage. This plan is designed to take care of your child’s care even if you are not there.

Features of Child Plans

  • Opportunity to build funds for child’s future
  • Option to choose from different variants
  • Guaranteed Maturity Benefit and Guaranteed Loyalty Additions
  • Inbuilt Total Disability Benefit and optional different riders available
  • Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Star Union Dai-ichi Life offers Types of Child Plan

  • Star Union Dai-ichi Life Bright Child

A flexible and customizable plan to plan for your child’s growth. Offers option to select between two funding- Career and Wedding Endowment. Minimum sum assured of Rs. 5 lakh and maximum up to Rs.5 crore. Policy term is upto the child’s age of 24 years. Offers two option for payment - fixed 10 years and upto child’s age of 18 years. For entry child’s entry should be between 0 to 8 years of age.

  • Star Union Dai-ichi Life Aahirwaad

A non-linked, non-participating endowment plan to secure child’s future. Guaranteed Benefit at maturity. Choice of 5 different maturity payouts. This plan continues even if during policy period the life assured passes away. Premium payment terms can be 5/7/10/15 years and policy term can be 10 to 20 years.

Star Union Dai-ichi Life Health Insurance Plans

Today’s lifestyle can cause heart attack, critical stage cancer, or a stroke to anyone, irrespective of the age. The treatment of these illnesses costs soar high and can dig a hole in your pocket. But you can stay covered with AAROGYAM, which provides financial protection on the first diagnosis of any of the specific Critical Illness.

Features of Health Insurance Plans

  • Provides financial protection
  • This plan covers 40 Critical Illnesses are covered
  • Additional cover for Angioplasty
  • Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Star Union Dai-ichi Life Aarogyam

This plan covers 40 Critical Illnesses (CI). Provides 25% additional cover for Angioplasty. In case of no claims, returns of 100% premiums paid on maturtiy. Fixed policy term and premiums payment term of 10 years. Sum Assured paid on the first diagnosis of any of the specific Critical Illness.

Claim Process

Claim Intimation: The nominee or the claimant of the Life Assured need to intimate SUD Life about the Death Claim in writing along with set of listed documents.

Claim Registration:

  • Intimate Star Union Dai-ichi Life Insurance on their Toll-Free number - 1800-266-8833 or 022-39546200

  • Provide Death Certificate in case of a death of the insured

  • KYC of the nominee

  • Bank Details of the nominee

  • Original policy document

Claim Processing:

After intimation and on receiving of the documents, SUD Life would review the claim documents. And in case of requirement may call for pending documents (if necessary). Throughout the process, SUD Life will keep updating the claimant about the status. Once the claim approved, the nominee shall receive the benefits as per the plan through Electronic Fund Transfer.

Mandatory Documents

  • Original Policy Bond
  • Death Certificate Original or Attested copy
  • Claimant's Statement duly filled and signed by Nominee/Appointee: Form A
  • Certificate of Identity & Cremation or Burial from a person of repute & character: Form C1
  • Photo Identity Proof of the nominee duly attested with Date of Birth proof
  • Address Proof of the nominee duly attested
  • Saving Bank Account No./ IFSC code of the nominee along with Cancelled cheque or copy of Passbook

Other Claim Documents:

  • Medical Attendant's Statement: Form B
  • Medical Treatment Certificate from Hospital: Form C
  • Treatment Certificate from Medical Attendant who treated in the last days of illness: Form D
  • Employer's Certificate: Form E (To be filled if the deceased was employed)
  • Copy of Hospital Records (Admission Notes, Progress Sheets, Test Reports, Discharge/
  • Death Summary from Hospital and Clinic where Life Assured was treated)
  • Additional documents, in case death occurred due to un-natural or accidental death
  • Copy of First Information Report/Spot Panchanama duly attested by issuing authority
  • Copy of Post Mortem Report duly attested by issuing authority
  • Copy Final Police Investigation Report / Senior Divisional Magistrate's Verdict duly attested by issuing authority
  • Newspaper Cuttings (if available)

Review

The SUD term insurance plans are designed to cater different segment of customers. And individuals can opt for plans that is suitable to their needs. An individual with such plans not only provide a financial protection but also a happy, peaceful, and worry-free life. Star Union Dia-ichi life insurance company has received many awards including as the Best Life Insurance Company in Private Sector and Company with highest claim settlement by ABP news BFSI awards in 2015. The company offers not only range of products but ensures hassle-free and quick claim settlement service, and by doing so, it has become one of the leading life insurance companies of India.

Company Address

Claims Review Committee Star Union Dai-ichi Life Insurance Company Limited 11th Floor, Raguleela Arcade IT Park, Sector 30A, Opp. Vashi Railway Station, Vashi, Navi Mumbai – 400703.

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