Star Union Dai-ichi Pure Term Assurance Plan

Invest In Tax Saving Mutual Funds Online

Download Tax Saving Mutual Fund Application Forms

Buy Gold Mutual Funds

Call 0 94 8300 8300 (India)

 

Star Union Dai-ichi Pure Term Assurance Plan

	Objective		This term insurance policy aims to protect family members from financial distress in the event of death of the insured member.
What does it do?		This plain term plan pays sum assured to the nominee on death of the policyholder. Policyholders with single premium policy can surrender the policy anytime after first policy year. The surrender value will be calculated according to the prespecified formula. Single premium policies also get a maturity benefit on survival. The plan does not offer any maturity or surrender benefit to regular premium policyholders. It also offers an optional accidental death and total and permanent disability rider to policies with regular premium payment mode. The rider pays an additional amount equal to rider sum assured in case of death due to an accident, or ten half-yearly installments, each equal to 10 per cent of the rider sum assured in the event of total and permanent disability.
Pros		There is a 3 per cent premium rebate for policies with sum assured higher than Rs 10 lakh. The plan offers accidental death and total and permanent disability rider to enhance coverage. A lapsed policy can be revived within 3 years. Premium paid towards this policy is eligible for tax benefit under section 80C of Income Tax Act.
Cons		The maximum sum assured under the policy is limited to Rs 25 lakh.
Suited for		Those looking for a cover upto Rs 25 lakh can consider this policy.
Our View		The accidental death and total and permanent disability rider may be considered as it comes at a very low cost and provides wide insurance cover. Before buying any policy evaluate your needs and select regular premium payment option over single premium payment. The reason we say this is because in case something goes wrong in early years of the policy, you have already paid a huge chunk of amount as premium to the insurance company.
Eligibility
Entry Age (years)
Minimum		18
Maximum		60
Maximum Maturity Age (years)		65
Policy Term (years)
Minimum		5
Maximum		25
Sum Assured (Rs)
Minimum		500000
Maximum		2499000
Premium Payment Frequency		Single, Yearly, Half-yearly, Quarterly, Monthly (via ECS only)
Premium Payment Term		Single or equal to policy tenure
Policy Cover		Cover remains fixed for the tenure of the policy
Other Features
Free Look Cancellation		In case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered.
Grace Period		You are allowed to pay premiums within 30 days from due date for annual, semi-annual and quarterly premiums and within 15 days in case of monthly premium. If a due premium is not received within the grace period of 30 days, your policy will lapse and the life insurance cover, including the rider cover, if any, will be terminated.
Lapsed Policy Reinstatement		You can reinstate your lapsed policy any time (within 3 years from the due date of the first unpaid premium) by paying all the due premiums and undergoing underwriting requirements, if any.
Tax Benefits		Section 80C, 10 (10D) of the Income Tax Act, 1961 would apply. Premiums paid for SUD Life Accidental Death & Total and Permanent Disability Benefit Rider qualify for deduction under Section 80D of the Income Tax Act, 1961.
Exclusions		In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable. Further, if the Life Assured under the policy, whether medically sane or insane, commits suicide, within one year of exercising the option to increase the Sum Assured, then the amount of increased Sum Assured will not be considered in the calculation of the Death Benefit
Surrender Value		Only Single Premium Policyholders can surrender policy after completion of one policy year. Surrender value will be 60% of Unearned Premium. Unearned Premium is {1-(elapsed duration since date of commencement of policy/ Term of policy)*Single Premium}
Customer Service
Address		Star Union Dai-chi Life Insurance Corporate Office: 11th floor, Raghuleela Arcade, Opp. Vashi Railway Station, Vashi, Navi Mumbai - 400 703 Registered Office: Star House, 3rd floor, West Wing, C-5, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051
Mail To		customercare@sudlife.in
Call On		022 39546300
Additions to the Plan
Available Rider(s)		SUD Life Accidental Death and Total and Permanent Disability: It covers Death due to accident within 180 days of accident. Accidental dismemberment (loss of limbs and/or eye(s). Permanent total disability due to an accident
Rider Conditions
Entry Age (years)
Minimum		18
Maximum		60
Maximum Maturity Age (years)		65
Rider Term (years)
Minimum		Equal to policy term
Sum Assured (Rs)
Minimum		10000
Maximum		Lower of Base plan insurance or 50 lakh
Rider Premium (Rs)		Rider premiums vary for each policyholder. For instance, if a 30-year old opts for the Accidental Death and Total and Permanent Disability rider for Rs 5 lakh sum assured over a 10 year tenure; the annual rider premium works to Rs 400.

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

OR

You can write back to us at PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

1. ICICI Prudential Tax Plan Invest Online
2. HDFC TaxSaver Invest Online
3. DSP BlackRock Tax Saver Fund Invest Online
4. Reliance Tax Saver (ELSS) Fund Invest Online
5. Birla Sun Life Tax Relief '96 Invest Online
6. IDFC Tax Advantage (ELSS) Fund Invest Online
7. SBI Magnum Tax Gain Scheme 1993 Invest Online
8. Sundaram Tax Saver Invest Online
9. Edelweiss ELSS Invest Online

------------------

Best Performing Mutual Funds

1. Largecap Funds Invest Online
1. DSP BlackRock Top 100 Fund
2. ICICI Prudential Focused Blue Chip Fund
3. Birla Sun Life Front Line Equity Fund
2. Large and Midcap Funds Invest Online

1. ICICI Prudential Dynamic Plan
2. HDFC Top 200 Fund
3. UTI Dividend Yield Fund
2. Mid and SmallCap Funds Invest Online

1. Reliance Equity Opportunities Fund
2. DSP BlackRock Small & Midcap Fund
3. Sundaram Select Midcap
4. IDFC Premier Equity Fund
3. Small and MicroCap Funds Invest Online

1. DSP BlackRock MicroCap Fund
4. Sector Funds Invest Online

1. Reliance Banking Fund
2. Reliance Banking Fund
5. Tax Saver MutualFunds Invest Online
1. ICICI Prudential Tax Plan
2. HDFC Taxsaver
3. DSP BlackRock Tax Saver Fund
4. Reliance Tax Saver (ELSS) Fund
6. Gold Mutual Funds Invest Online

1. Relaince Gold Savings Fund
2. ICICI Prudential Regular Gold Savings Fund
3. HDFC Gold Fund