Star Union Daiichi Guaranteed Money Back Plan
Star Union Dai-ichi Guaranteed Money Back Plan is a Non-Participating Money Back Plan. It is a Traditional Plan without Bonus facility.
Compare this plan with other Investment Plans
Star Union Daiichi Guaranteed Money Back Plan - Key Features
There are no additional riders available in this plan:
Star Union Daiichi Guaranteed Money Back Plan - Benefits
In case of death of the Life Insured within the Policy Tenure, the entire Sum Assured, irrespective of the Survival Benefit already paid + Guarante
200% of the Annualized Premium is paid every 5 years and the policy continues On survival till the end of the policy tenure, the basic Sum Assured + Guaranteed Additions – Survival Benefit already paid is paid to the nominee Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity Pro In this plan, premium needs to be paid for a limited period of 10 years only while the policy continues for the entire policy tenure of 10, 15 or 20 years. There is Guaranteed Additions in this plan which accrues every year as a % of Annual Premium This being a Money Back Plan, 200% of the Annualized Premium is paid back every 5 years as Survival Benefit On survival till the end of the Policy Tenure, the Sum Assured + Guaranteed Additions – Survival Benefits already paid is paid to the policyholder as Maturity Benefit and the policy terminates. However, if the Life Insured dies within the Policy Tenure, the entire Sum Assured, irrespective of the Survival Benefits already paid + accrued Guaranteed Additions till date of death is paid to the nominee as Death Benefit and the policy terminates. If the policy holder stops paying the premium, then the policy lapses and all benefits cease. However it at least 3 years premium has been paid, then the policy acquires a Paid Up Value and continues with reduced coverage. There are Surrender Benefits in this plan but after at least 3 years Annualized Premiums have been paid. Guaranteed Surrender Value + Guaranteed Additions would be payable. Loan facility is not available in this plan....
How Star Union Daiichi Guaranteed Money Back Plan works
Policy Tenure
Guaranteed Addition
10 years
4% of Annualized Premium
15 years
5% of Annualized Premium
20 years
6% of Annualized Premium
Policy Tenure
Benefit Payable at Survival Benefit at the end of
10 years
5th Policy Year
15 years
5th and 10th Policy Year
20 years
5th, 10th and 15th Policy Year
Eligibility conditions & other restrictions in Star Union Dai-ichi Guaranteed Money Back Policy
Minimum
Maximum
Sum Assured (in Rs.)
3 lakhs
10 crores
Policy Term (in years)
10,15
20
Premium Payment Term (in years)
10
Entry Age of Life Insured (in years)
13
50
Age at the end of Premium Paying Term (in years)
-
70
Payment modes
Yearly, Half-Yearly, Quarterly and Monthly
Star Union Daiichi Guaranteed Money Back Plan - FAQs
The policy can however be revived within 2 years from the due date of first unpaid regular premium or date of maturity of the base policy whichever is earlier.
Guaranteed Surrender Value= Guaranteed Surrender Value Factor X Total premiums paid till date of Surrender - Survival Benefit already paid, if any
The Surrender Value Factor is mentioned in the Policy Document.
