Star Union Dai-ichi Pure Term Assurance Plan
Star Union Daichi Pure Term Assurance is a simple pure term plan from Star Union Dai-ichi Life Insurance where the nominee gets the chosen sum assured on death of the life insured and nothing is payable on maturity as this is a pure term insurance plan for the protection purpose.
Key Features of SUD Pure Term Assurance Plan
§ It is a pure Term Insurance Policy with Death Benefit only and no maturity benefit.
§ Accidental Death and Total and Permanent Disability rider benefit available.
§ High Sum Assured rebate is provided for Sum Assured > Rs 10 lakhs
Benefits you get from SUD Pure Term Assurance Plan
Death Benefit – In case of death of the Life Insured, the nominee gets the chosen sum assured under the plan.
Maturity Benefit – Nothing is payable on maturity of the policy.
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C
Eligibility conditions and other restrictions in SUD Pure Term Assurance Plan
|
|
Minimum
|
Maximum
|
|
Sum Assured (in Rs.)
|
5,00,000
|
24,99,999
|
|
Policy Term (in years)
|
5
|
25
|
|
Premium Payment Term (in years)
|
Single
|
Equal to policy term
|
|
Entry Age of Policyholder
|
18
|
60
|
|
Age at Maturity
|
23
|
65
|
|
Single premium (in Rs.)
|
NA
|
NA
|
|
Payment modes
|
Single, Yearly, Half-Yearly, Quarterly and Monthly(ECS)
|
Sample illustration of premium amount in SUD Pure Term Assurance Plan
The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 10 lakhs and Policy Term = 15 years
Additional Features & Benefits of this plan
Riders – the available rider that is available in this policy:
· Accidental Death and Total and Permanent Disability rider
You stop paying the premium - If the policy holder stops paying the premium, then the policy lapses after the grace period ends. It can however re-instate the policy within 3 years of lapsation by paying up all due premiums with interest. The present rate of interest is 9% p.a.
You want to surrender the policy – Surrender Benefit is available only for Single Premium policies
Surrender Value= 60% of (1- Duration Elapsed/Total Term) X Single Premium
You want a loan against your policy – Loan facility is not available under this policy.
Alternate pure term plans from different insurance companies
1. LIC Anmol Jeevan
2. ICICI Prudential Pure Protect Classic
3. Kotak Term Plan
Other term insurance plans from Star Union Dai-ichi
1. Star Union Dai-ichi Premier Protection Plan
