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Star Union Dai Ichi Arogyam Plan Review, Features, and Benefits

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Star Union Dai Ichi Arogyam Plan

Star Union Dai Ichi Arogyam Plan is a Non-linked Health Insurance Plan. This plan covers the health insurance in unfortunate/ crucial cases. SUDI Life plan covers the Principal Insured and his/ her family, Spouse, Children, Parents, and in-laws. For every generation, it is the perfect plan to cover their Medical Problems. Life is full of uncertainties. Stay financially ready so that a Critical Illness does not make a dent in your savings. Everyone has to face some medical problems in their life. There are some Health issues which we cannot afford financially. At those situations, Star Union Dai Ichi Health Plan will give you a financial support to you and your family. The Unique Identification number of SUDI Life Arogyam Health Plan is UIN: 142N051V01.

This is a Non-Linked Non-Participating Health Insurance Plan which provides fixed amount of Benefits for hospitalisation for various 40 critical illness. It covers almost 40 types of surgical procedures irrespective of actual cost incurred and the benefit is in addition to any other health insurance cover that insured lives may have, subject to certain terms and conditions.

SUDI Life Arogyam Health Plan Features & Benefits

The SUD Life has provided some key features and Benefits for this Arogyam Plan. These features are helpful for the people who want to buy Health Insurance to provide Medical security to their family.

  • Lump sum benefits irrespective of actual medical costs.
  • Flexible premium payment options.
  • Financial protection in case of surgery, hospitalisation, etc.
  • Offers lower premium for female lives and premium discount on High Sum Assured.
  • Pays guaranteed amount on diagnosis of critical illness.

Benefits of SUDI Life Arogyam Policy

As every policy has some benefits, SUD Arogyam Policy also has some benefits which attract you buy this policy. There are mainly two benefits under this policy.

  • Death Benefit.
  • Maturity Benefit

If the Life Assured diagnosed for the 40 Critical Illness listed, the company would provide 100% of maximum Sum Assured and policy terminates immediately. The Maximum Sum Assured provided is

  • Ten times of Annualized Premium or
  • 105% of all the premiums paid (excluding service tax & extra premium, if any) as on date of diagnosis of critical illness or
  • Maturity Benefit or
  • Basic Sum Assured.

 Maturity Benefit:

On the survival of the Life Assured until the end of the policy Term, no Critical Illness benefit will be provided (if no Critical Illness claim has made). There is the only chance of claiming Angioplasty. The company will pay the Maturity Benefit equal to the total premium received (excluding extra premiums, if any), and policy will terminate.

Death Benefit:

In the case of the death of the policyholder during the period of the policy, no Death Benefit will be provided.

Critical Illness Benefit:

  • In the case of Critical Illness, the company will provide 100% Sum Assured to be paid on Diagnosis of Critical Illness and contract ceases.
  • 25% Sum Assured to be paid on Angioplasty subject to the maximum of Rs. 10,00,000/-

Star Union Dai Ichi Arogyam Health Plan Eligibility Criteria & Conditions

Star Union Dai Ichi Arogyam Plan has some eligibility conditions regarding the entry age, sum assured, policy term, etc. Check the Eligibility conditions for the SUDI Arogyam Health Insurance Plan.

500000/- per Policy

Age at Entry Minimum 18 years (last birthday)
Maximum 65 years (last birthday)
Policy Term Fixed 10 Years
Premium Paying Term Fixed 10 Years
Sum Assured Minimum Rs.
Maximum Rs. 50,00,000/- per Life

Maximum Maturity Age

 75 Years (Nearest birth)
Premium Mode

Yearly/ Half Yearly/ Quarterly (ECS/SI)/ Monthly (ECS/SI)

The Star Union Dai-Ichi Arogyam Plan Rebates

A rebate is an amount paid by way of reduction, return, or refund on what has already been paid or contributed. LIC India provides Rebates under this policy. There are three types of Rebates covered under this policy. They are

Basic Sum Assured Bands Rebate
Rs. 5,00,000/- – Rs. 7,49,000/- Nil
Rs. 7,50,000/- – Rs. 14,99,000/- Rs. 2 /- per 1000 SA
Rs. 15,00,000/- – Rs. 29,99,000/- Rs. 4/- per 1000 SA
Rs. 30,00,000/- – Rs. 50,00,000/- Rs. 6/- per 1000 SA

Star Union Dai Ichi Premium Calculator

To calculate the Premium for the SUD Life Arogyam Plan, the following data will be required.

  • Name of the Policyholder.
  • Email Id.
  • Mobile Number is given to the Corporation.
  • Age Proof.
  • Policy Term.
  • Sum Assured.

Buying Process of Star Union Dai Ichi Arogyam Health Policy

To buy a Star Union Dai Ichi Arogyam Plan we need some documents. The Policyholder who wants to buy a Health plan should follow the rules that are applicable to the Insurance Plan as Assurance is a Protection against an event that is definite.

In general to buy a new policy the documents required are

  • Name.
  • Proposal Form/ Application form.
  • Address Proof.
  • Medical Certificate.
  • Age Proof, etc.

SUD Life Arogyam Plan Claim Process

Nominees can claim for Star Union Dai Ichi Arogyam Plan after the diagnosis of the policyholder. Because there is no Death  Benefit is available under this plan.

The documents required to claim this Health Insurance Policy are same as the basic policy that you have taken. The general documents required for the claiming process are

  • NEFT form.
  • Cancel check or Bank Passbook xerox.
  • Policy bond.
  • Discharge form.
  • Death certificate.

Additional Information on Star Union Dai Ichi Arogyam Policy

Grace Period:

If the Policyholder doesn’t pay the premium within the time, the company will extend the time to pay the premium is a grace period. Star Union Dai Ichi Plan has a grace period of 30 days. Assured candidate can pay the premium within this Grace Period.

Revival Period:

If the Policyholder doesn’t pay the premium within the grace period, then the Policy will be a lapse. A lapsed Term Plan will be revived within the two consecutive years from the date of first unpaid premium. This Term plan will be revived before the expiry period of Policy term.

Surrender Value: 

If the insured candidate wants to return the policy within the Minimum Policy Term, surrender value will the paid to the policyholder.

The Surrender Value payable will be higher of “Guaranteed Surrender Value (GSV)” and “Special Surrender Value (SSV)”.

GSV= Guaranteed Surrender Value Factor * Total premiums paid (excluding extra premiums if any) upto the date of surrender.

The company will calculate Special Surrender Value based on the method as approved by the regulator from time to time. SSV can change by the Company from time to time after prior approval from the regulator.

Free Look Period: 

If you are not satisfied with the Terms and Conditions of the Policy, you can return the Star Union Dai Ichi Arogyam Plan within the 15 days from the Date of receipt of the Policy.

Loan:

Under this plan, no loan facility will be applicable.

Riders: No riders are available under this plan.

More Information on Star Union Dai Ichi Arogyam Policy

Policy Lapse: If the policyholder doesn’t pay the premium within the grace period for the first three full years, the policy will lapse. In this case, there are no benefits will be payable under this lapsed policy.

Paid Up Value: 

If the premium is paid for three consecutive years and subsequent payments are not paid then, the policy acquires Reduced Paid Up Value.

Reduced Paid Up Value= (Total number of premiums paid/ Total number of premiums payable) * Sum Assured.

Suicide Clause:

If the policyholder commits suicide, no benefit will be provided.

Exclusions:

Exclusions for this Star Union Dai Ichi Arogyam Plan will be based on the following things. If the illness occurs due following reasons, there will no benefits will be provided for the nominee.

  • Accident or injury while flying any aircraft, other than as a fare-paying passenger on an aircraft of a licensed airline.
  • Attempting to suicide.
  • Self-inflicted act.
  • Usage of Alcohol, Drugs, narcotics, etc.
  •  Participation in any armed force like The Accident during service in Military, Police Dept, or any other similar organisation.
  • Drug-taking other than under the direction of a qualified medical practitioner
  • Participating in any criminal activity.
  • HIV/AIDS.
  • Criminal act with criminal intent.
  • Nuclear reaction, radiation or nuclear or chemical contamination.

Nomination:

The Company will allow for the nomination as per the Section 39 of the Insurance Act 1938 which will modify from time to time.

Assignment: 

The Company will allow for the nomination as per the Section 38 of the Insurance Act 1938 which will modify from time to time.

Termination of Policy:

Star Union Dai Ichi will terminate the Arogyam Plan on the occurrence of the following events

  • If the policyholder doesn’t pay the premium and not revived within the revival period.
  • In the case of the Surrender of Policy.
  • On Payment of the Critical Illness Benefit except Angioplasty.
  • On the Death of the Life Assured.
  • In the case of Maturity Date.
 Critical Illness that are enlisted in Star Union Dai Ichi Arogyam Plan are
  1. Apallic Syndrome.
  2. Benign Brain Tumor.
  3. Blindness.
  4. Surgery of the brain.
  5. Cancer of Specified Severity.
  6. Chronic Lung Disease.
  7. Coma of Specified Severity.
  8. End Stage Liver Disease.
  9. Open Chest CABG.
  10. First Heart Attack – of Specified Severity.
  11. OpenHeartReplacementOrRepairofHeartValves.
  12. Kidney Failure requiring Regular Dialysis.
  13. Loss of Independent Existence.
  14. Loss of Limbs.
  15. Encephalitis.
  16. Major Burns.
  17. Major Head Trauma.
  18. Bone Marrow Transplant/Major Organ.
  19. Permanent Paralysis of Limbs.
  20. Stroke resulting in Permanent Symptoms.
  21. Ulcerative Colitis.
  22. Chronic Recurrent Pancreatitis.
  23. Carotid Artery Surgery.
  24. Bacterial Meningitis.
  25. Dissolution of the nerve roots of Brachial Plexus.
  26. SLE with Lupus Nephritis.
  27. Primary Pulmonary Hypertension.
  28. Progressive Systemic Sclerosis.
  29. Parkinson’s Disease.
  30. Muscular Dystrophy.
  31. Multiple Sclerosis with Persisting Symptoms.
  32. MotorNeuron Disease with Permanent Symptoms.
  33. Medullary Cystic Kidney Disease.
  34. Medullary Cystic Kidney Disease.
  35. Deafness.
  36. Cardiomyopathy.
  37. Aplastic Anaemia.
  38. Alzheimer’s Disease.
  39. Fulminant Viral Hepatitis.
  40. Surgery to Aorta.

FAQ’s on Star Union Dai Ichi Arogyam Plan

1. What are the Policy Term and Premium Payment Term for the plan?

A. The Policy Term is 10 years (fixed) and Premium Payment Term is equal to the Policy Term i.e. 10 years.

2. Are there any tax benefits?

A. As per the current laws, income tax benefits are available under Income Tax Act, 1961 which are subject to change in tax laws from time to time.

3. Is the premium different for Male and Female lives?

A. Yes, there is a difference in the premium rates between Male and Female lives of same age. Female lives are charged less premium in comparison with Male lives.

4. How is the premium calculated?

A. Premium depends upon the Life Assured’s age, Gender and Basic Sum Assured. The following factors are applied to annual premium when paying premiums.

Mode of the Premium Modal Factor
Yearly 1
Half Yearly 0.5108
Quarterly 0.2582
Monthly 0.0867