Do you want to know the complete details of Star Union Dai Ichi Premium Protection Plan? Then you are at the right place of searching. Every person wants to give protection to their family and children. For those, SUD Life Premium Protection Plan is the best policy. Before going to buy, we want to check the Eligibility, Benefits of the policy. If you want to the details of Star Union Dai-Ichi Protection Plan, go through the following sections of the page.
Star Union Dai Ichi Premium Protection Plan
Star Union Dai Ichi Premium Protection Plan is one of the best plan offered by SUD Life. SUD Life Premium Protection Plan provides the comfort and financial support to your family in the form of Good Education, house, car. It is a comprehensive term insurance plan that ensures financial protection to your family. Life Assured’s family can get the Benefits at an affordable premium. It is a plan where your family can the financial support in case of unfortunate demise.
SUD Life Protection Plan Key Features and Benefits
As every policy has some Key Features and Benefits, SUD Premium Protection Plan also has some features and benefits. Go through the following sections for complete information.
The Features included in the Star Union Dai Ichi Life Term Insurance Plan are
- Grace Period.
- Revival Period.
- Surrender Value.
- Cooling off Period.
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. SUDI Premium Protection Plan has the grace period of 30 days. The grace period will be 15 days in case of monthly mode. 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 the 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, no surrender value will be paid to the policyholder.
Cooling Off Period:
If you are not satisfied with the Terms and Conditions of the Policy, you can return the Star Union Dai Ichi Protection Plan within the 15 days from the Date of receipt of the Policy.
Star Union Dai Ichi Premium Protection Policy Benefits
Check the benefits of SUD Life Insurance Term Protection plan. These benefits include Death Benefit, Maturity Benefit, Tax Benefit, etc.
- Death Benefit.
- Maturity Benefit.
Death Benefit:
In a case of the Sudden/ Unfortunate death of Policy Holder candidate within the Policy term, the sum assured will be payable to the Assured’s family or nominees.
Age of the Life Assured at entry less than 45 years:
Highest of Basic SA or 10 times of Annualised Premiums or 105% of all the premiums paid as on the date of.
Age of the Life Assured at entry 45 years and above:
Highest of Basic Sum Assured or 7 times of Annualised Premiums or 105% of all the premiums paid as on the date of death.
Maturity Benefit:
In the case of survival of the life assured up to the policy term, no maturity benefit will payable.
Star Union Dai Ichi Life Insurance Premium Protection Plan Eligibility Criteria & Conditions
SUDI Protection Plan has some eligibility conditions regarding the entry age, sum assured, policy term, etc. Check the Eligibility conditions for the SUD Term Protection Insurance Plan.
| Sum Assured | Minimum | Rs. 25,00,000 |
| Maximum | Rs. 1,000,000,000 | |
| Age at Entry | Minimum | 18 years (completed) |
| Maximum | 60 years (nearest birthday) | |
| Policy Term | Minimum | 10 Years |
| Maximum | 30 Years | |
|
Maximum Age of the Life Assured at Maturity |
70 Years(Nearest birth) | |
|
Premium Payment Mode |
Yearly or Half Yearly or Monthly(ECS/SI only) |
|
|
Premium Payment Term |
Equal to policy term |
|
SUD Life Term Protection Plan Sample Premium Rates
Check the sample premium rates for Star Union Dai Ichi Term Premium Protection Plan.
| Sum Assured | Term in Years | ||
| 15 | 20 | 25 | |
| Rs. 50,00,000 | Rs. 8,100 | Rs. 9,150 | Rs. 10,600 |
| Rs. 1,00,00,000 | Rs. 14,000 | Rs. 16,100 | Rs. 19,000 |
Depending upon the Premium payment frequency chosen by you, you have to pay the minimum premium as specified by the company. Different premium rates for the Star Union Dai Ichi Premium Protection Plan are given below.
| Yearly | Half Yearly | Monthly |
| Rs. 5000/- | Rs. 2500/- | Rs. 500/- |
Star Union Dai-Ichi Premium Protection Policy Premium Calculator
To Calculate the Premium, you need some basic information like Name, Number, Email Id, Policy Term, etc. Based on the Policy Term and other parameters policyholders can you can calculate the SUDI Protection Plan Premium.
The data required for the calculating the Premium is
- Name of the Policyholder.
- Email Id.
- Mobile Number.
- Age Proof.
- Policy Term.
- Sum Assured.
Buying Procedure for SUDI Life Insurance Protection Plan
The policyholder can visit the nearest SUD Life Branch Office to buy the Proposal form. You can also get the Star Union Plan through the Agent.
Documents needed for SUD Term Insurance Plan
- Application form/ Proposal form along with a photo.
- Age Proof.
- Address Proof.
- Medical reports (If required).
Star Union Dai Ichi Term Plan Claim Procedure/ Process
Nominees can claim for the SUDI policy after the death of the policyholder. Because there is no Maturity/ Survival Benefit under this plan.
The documents required to claim for the Star Union Term Plan are
- Original Policy Document.
- Original Death Certificate.
- Claim forms.
- Identity Proof of the nominee duly attested with Date of Birth proof.
- Address Proof.
- Saving Bank Account No. / MICR No. / IFSC code.
- A copy of Hospital Records, etc.
Exclusions of SUDI Plan
There are some exclusions for this policy. Nominees of the Life assured cannot have the death benefit under these conditions. Some Exclusion under this Plan are
Suicide Clause:
If the policyholder committed suicide for any reason within the 12 months/ one year of the date of commencement of risk or from the date of revival. The nominees will get the 80% of the premium paid till the date excluding the taxes.
Additional Information about Star Union Dai Ichi Premium Protection Plan
- No Surrender value will be provided under this SUDI Life Premium Term Plan.
- In this Star Union Dai Ichi Premium Protection Plan, Loan facility is not provided.
- No paid up value will be provided under this SUD Life Insurance Plan.
- Riders are available in this plan.
- Death Benefit Rider.
- Permanent Disability Benefit Rider.
- Payment of Claim: Nominees can claim for the benefit under this scheme.
- Revival Period: A lapsed Term Plan will be revived within the two consecutive years from the date of first unpaid premium.
FAQ’s of Star Union Dai Ichi Term Insurance Policy
1. Can I get Surrender value under this policy?
A. No, there is no surrender value will be payable under this plan.
2. Is there any loan benefits in this SUDI Premium Protection Plan?
A: No, there is no loan facilities will be provided under this plan.
3. Is any Rider available for this policy?
A. Death Benefit Rider and Permanent Accident Benefit Riders are available for this plan.