Investment Plans 767 views November 6, 2020

Star Union Dai-Ichi Life Aadarsh insurance Plan

Everyone needs an investment in order to boost up their wealth. The investment plans help the individual to accumulate funds for their future needs. Some people prefer small investments and some prefer big. So, if you are looking for a small investment plan then you must definitely go for the Star Union Dai-Ichi Life Aadarsh insurance Plan. This plan offers you a Sum Assured starting from Rs.50000 and it is available up to Rs.5 Lacs. You can buy this plan for the people having the age of just 8 years that means it has the minimum age of entry criteria of 8 years. Therefore, you must go through the key features of this investment insurance plan.


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Key Features of Aadarsh Insurance Plan

  1. Multiple options are available for choosing the sum assured.
  2. There is a premium paying term of 5 years in this insurance plan.
  3. You are free to choose the premium paying frequency mode in this plan.
  4. This plan allows you to take a loan against the policy in case of an emergency.
  5. Get tax deductions as per the tax laws while computing your annual income.
  6. The company also gives a grace period if you are unable to make the payment of premium on time.

Benefits of Aadarsh Insurance Plan

This plan has a lot of benefits that would help you to accumulate and multiply your funds for the future. On the other hand, it includes death benefits and accidental death benefits. Therefore, you must explore each and every benefit of this plan before buying it.

Maturity Benefits

If the insured successfully survives the policy term then he will be eligible to enjoy the maturity benefits. The maturity benefits will be the benefit guaranteed at the time of inception of the policy. The basic sum assured that was decided earlier will be paid at the time of maturity that is after the expiry of the policy term.

Death Benefits

The company will give the death benefits to the insured if the insured dies during the policy term. The cause of death must not be an accidental death in order to get this benefit. This benefit will include the Sum Assured on death and will be paid as a lump sum to the nominee mentioned the policy and the insurance contract will expire.

Accidental Death Benefits

In case of the accidental death of the insured, the company will pay two times the Sum Assured on death to the nominee. This benefit will be paid as a lump sum to the nominee and the Death Sum Assured will be the highest of the following in the Star Union Dai-Ichi Life Aadarsh insurance Plan:-

  1. 10 Time of the Annualized Premium
  2. 105% of the total premiums paid up to the time of death
  3. Guaranteed Maturity Benefits
  4. Final amount assured to be paid on death

The death benefit will be reduced if you have skipped any of the premiums in the previous years. The premium will not include taxes, rider’s premium, underwriting extra premiums, and loadings for modal premiums.

Exclusions of this Benefit

The nominee will not get the accidental death benefit if the death is due to the following activities:-

  1. The Insured taking part in any hazardous sport or pastimes
  2. Self-inflicted injury
  3. Death due to suicide attempt

An insured person being under the influence of drugs, alcohol, narcotics or psychotropic substances unless prescribed by the medical practitioner

  1. War, civil commotion, invasion, terrorism, hostilities
  2. Active participation of the Insured in strikes, industrial disputes, riots, etc.
  3. Any Criminal or illegal activity with a criminal intent
  4. Nuclear reaction, radiation or nuclear or chemical contamination

Affordable Premiums

As you know that this plan offers a maximum Sum Assured of up to Rs.5 Lacs so the premium of this plan is affordable. You will have to pay the premium for the premium paying term of 5 years and your policy will mature after the policy term of 10 years.

Grace Period

If in case you are unable to pay the premium on the due date then the company will give you a grace period of 15 days and 30 days. A grace period of 15 days is given if you are paying the premium on a monthly basis and you will get a grace period of 30 days if you are paying the premium on a yearly basis, quarterly basis, and half-yearly basis.

Loan Against Policy

You can take a loan against a policy in case of an emergency during the policy term. The company will give you the loan only if your policy has acquired a surrender value. You can take a loan of 70% of the Surrender value against this policy.

Flexibility of Paying Premiums

The company gives you the option to pay the premium as per your convenience. You can pay the premium monthly, yearly, half-yearly, and quarterly as per your financial convenience.

Eligibility Criteria of Star Union Dai-Ichi Life Aadarsh insurance Plan

Minimum Age of Entry8 Years
Maximum Age of Entry55 Years
Maximum Age of Maturity65 Years
Premium Paying Term5 Years
Policy Term10 Years
Minimum Sum AssuredRs.50000
Maximum Sum AssuredRs.5 Lacs
Sum Assured OptionsRs.50000, Rs.3 Lacs, and Rs.5 Lacs
Premium Paying FrequencyMonthly, Yearly, Half-Yearly, and Quarterly

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