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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
| Have any doubts that need to be clarified? |  |
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
What happens if?
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.
