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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.

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Death Benefit
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Maturity Benefit
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Income Tax Benefit
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Key Features

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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.
Caters to people with high life cover requirement since the minimum sum assured is Rs 25 lakhs.
Riders

The available rider that is available in this policy:

· Accidental Death and Total and Permanent Disability rider

Benefits

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Death Benefit

In case of death of the Life Insured, the nominee gets the chosen sum assured under the plan.

Maturity Benefit

There is no Maturity Benefit on maturity of the policy, as this is a pure term plan.

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

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  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

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angle down iconYou stop paying the premium

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.

angle down iconYou 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

angle down iconYou want a loan against your policy

Loan facility is not available under this policy.