• Investment
  • Car
  • Bike
  • Taxi
  • Term Life
  • Health
  • Travel

Star Union Dai-ichi ULIP Plans

Star Union Dai-ichi Life Insurance Co. Ltd. is a joint venture of Bank of India, Union Bank of India and Dai-ichi Life. Dai-ichi Life is one of the leading life insurance companies in Japan. Star Union Dai-ichi Unit Linked life Insurance plans invest your money in the market-linked instruments and also give you the benefit of life insurance. This two-in-one plan gives financial security to you and your family.

Types of Star Union Dai-ichi ULIP Plans

Star Union Dai-ichi offers a wide range of Unit Linked Premium Insurance Plans that provide insurance cover and investment under the same plan, unlike any other pure insurance policy.

1. Star Union Dai-ichi Life Dhan Suraksha Plus

2. Star Union Dai-ichi Life Wealth Builder Plan

Star Union Dai-ichi Life Dhan Suraksha Plus

A Unit linked insurance plan that offers financial security to your family through life cover like every other plan and also offers the investor a chance to build on their wealth through investment in a choice of four types of funds.

Features:

  • Its investor has the option of investing in four different funds.
  • Through options like premium redirection, switching, etc., the insured can control their investments.
  • An option of regular premium and limited premium payment is also available.
  • Income Tax Benefit on the premium paid and death/maturity benefit under section 80C and 10(10D) of the Income Tax Act, 1961 is also provided with this plan.
  • Maturity benefit offered is equal to the fund value
  • Death benefit offered is equal to whichever is higher of the sum assured or fund value as on the date of intimation of death of the Life Assured or 105% of the total premiums paid.
  • The application process for the plan is simple and easy.

Star Union Dai-ichi Life Wealth Builder Plan

Star Union Dai-ichi Wealth Builder Plan is not a simple insurance plan, but it is also a wealth building plan. The plan ensures that your family stays protected in any uncertain event and allows you to build wealth with only a one-time investment.

Features:

The insured has an option of four funds to invest in to get desired returns, even in a volatile market.

  • The plan offers the top-up option, through which one can intermediately infuse capital to build wealth.
  • The policy term of 5-30 years is offered under this plan.
  • The minimum premium limit is of Rs.1 lakh.
  • Income Tax Benefit under Section 80C and 10(10D) of the Income Tax Act, 1961 is provided.
  • Maturity benefit offered is equal to the fund value
  • Death benefit offered is equal to whichever is higher of the sum assured or fund value as on the date of intimation of death of the Life Assured or 105% of the total premiums paid.
  • The application process for the plan is simple and easy with minimum documentation.

Why Choose Star Union Dai-ichi ULIP Plans?

Star Union Dai-ichi ULIP Plans offers various benefits and features that makes it one of the most prominent options to choose as your investment instrument. This plan caters to fulfil all your financial needs and gives the protection of insurance coverage. Following features makes Star Union Dai-ichi ULIP Plans one of the most trusted investment options:

  1. The plans come with the two-in-one quality i.e. it provides insurance cover and investments in capital markets. One part of the premium is invested in the market while the other part of the premium is used for insurance coverage.

  2. With Star Union Dai-ichi ULIP Plans, you can choose investment strategies according to your risk appetite.

  3. According to the Section 80C and 10(10D) under the Income Tax Act, 1961, tax benefits can be availed on premium paid and death/maturity benefits by insured.

  4. The sum assured/fund value will be paid to the nominee in case of any uncertain event, such as the death of the insured.

Documents Required

The policyholder has to fill up the application form available at every branch of Star Union Dai-ichi Life Insurance company and submit it with identity proof, income proof (bank account statement), address proof and a recent photograph.

In select cases, you may be required to submit latest medical examination reports.

Additional Features or Riders

You can revive your lapsed or discontinued policy by submitting a request within a timeframe of two years from the date of first unpaid premium.

  • There are various charges implied on your policy. The investor must be well aware of all those charges. They are as follows:

  • Policy Administration charges will be deducted at the starting of every month.

  • Premium allocation charges will be deducted from the premium amount and the balance will be invested.

  • Mortality charges are deducted by cancellation of units from the fund value at the beginning of every month.

  • Fund management charges are deducted daily on the basis by adjusting the NAV of funds.

  • Surrender charges are not applicable after the fifth policy year.

  • After one free partial withdrawal, each partial withdraw will be charged at Rs. 100.

  • One free switch per policy year is provided by the company, but after that, all the switching will be charged Rs. 100 per switch.

  • Medical examination charges will also be paid by the policyholder.

  • After one free Premium redirection request, every redirection request will be charged at Rs.100.

  • Despite all the above charges applicable taxes or any other charges applied by the Government of India have to be paid by the policyholder.

FAQ’s Star Union Dai-ichi ULIP Plans

Why you should opt for Star Union Dai-ichi Life Dhan Suraksha Plus?

Star Union Dai-ichi Life Dhan Suraksha Plus gives you an option to choose investment in four different funds and gives financial security to you and your family.

How to pay a premium? What are the modes of payment available?

Star Union Dai-ichi Life Insurance offers the following modes of payment:

  1. Online mode by Debit card, credit card or net banking.

  2. Offline mode by-

  3. Electronic Clearance System

  4. IVRS
  5. Money Order
  6. Cash/Cheque/DD

How can I check policy status for Star Union Dai-ichi ULIP Plans?

Register yourself on the e-portal and provide the details such as Policy number and date of birth and you can instantly get all the details at your fingertips.

What is the policy renewal process for Star Union Dai-ichi ULIP Plans?

Renewal of your policy can be done through the following modes:

  1. Online mode: Login to your account using your Login ID and Password and get all the details and process information online. Pay the renewal premium to instantly renew the policy.
  2. Offline mode: Visit the nearest branch and pay the applicable premium to renew the policy .

What is the company’s process to settle a claim for Star Union Dai-ichi ULIP Plans?

The nominee or the claimant of the Life Assured needs to inform SUD Life about the claim in writing along with a set of documents. After submission of the documents, SUD Life would review the claim documents. Throughout the process, SUD Life will keep updating the claimant about the status. Once the claim gets approved, the nominee shall receive the benefits as per the plan through Electronic Fund Transfer.

What is the policy cancellation process for Star Union Dai-ichi ULIP Plans?

Submit a duly filed surrender form along with relevant documents at any branch and after verification, the policy will be cancelled within 10 days.

Leave a rating!
5.0 (2 votes)