Star Union Daiichi Premier Protection
Premier Protection Plan is a simple pure term plan from Star Union Dai-ichi Life Insurance where the nominee would get paid if the life insured expirers within the policy term but nothing would be paid out to him on survival. This is a pure protection plan for the life insured’s family against unfortunate and early demise of the life insured.
Key Features
The available rider that is available in this policy:
· Accidental Death and Total and Permanent Disability rider
Benefits
In case of death of the Life Insured, the nominee gets the chosen sum assured under the plan.
There is no Maturity Benefit on maturity of the policy, as this is a pure term plan.
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
Minimum | Maximum | |
Sum Assured (in Rs.) | 25,00,000 | No Limit |
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) |
FAQs
If the policy holder stops paying the premium, then the policy would lapse after the expiry of the grace period from the due date of the first unpaid premium. 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.
Surrender Benefit is available only for Single Premium policies
Surrender Value= 60% of (1- Duration Elapsed/Total Term) X Single Premium
Loan facility is not available under this policy.