Life Insurance 717 views December 21, 2020

Star Union Dai-ichi Life Insurance, a joint venture of Bank of India and Union Bank of India, serves its customers with a wide variety of life insurance policies. Because the motto of a life insurance policy is to protect the person and his/her family against future financial uncertainties. As if you are the only earning member in the family and dies unfortunately, it could be a financial disaster for your family. Maybe not if you buy Star Union Dai-ichi Life Insurance. Let’s read how this insurer will help your dear ones in case you die and leave them.

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Star Union Dai-ichi Life Insurance Individual Products

Protection

Throughout your life, you work hard to get comfort and financial stability for your family. But with SUD Life’s Premier Protection Plan, you can meet your family’s needs even in case of your unfortunate demise. Under this, you can choose between multiple policy terms and premium payment terms. And you and your family will be covered for up to 40 years with a maximum life cover of INR 100 Crores.

Retirement

Retiring from work shouldn’t prevent you from living your life! By investing in Star Union Dai-ichi Life Insurance retirement plans, you can secure a comfortable future. The following are the available retirement plans:-

  1. SUD Life Assured Income Plan – Guaranteed Annual Income, Return of all premiums at the end of the policy term, Immediate lump-sum payment in case of an unfortunate event, tax benefits as per the prevailing income tax laws are some of the offerings of this plan.
  2. SUD Life Guaranteed Pension Plan – The plan comes with Guaranteed Additions, Assured Payout on Death, Flexible investment option and vesting benefits at the time of retirement. Besides, you don’t need to give any medical test before choosing this plan.
  3. SUD Life Immediate Annuity Plus – Lifelong income plan and 3 plan options

Savings

You could choose from various Star Union Dai-ichi (SUD) Life Insurance savings plans. SUD Life Aadarsh, Star Union Dai-ichi’s Guaranteed Money Back Plan, SUD Life – Praptee, SUD Life Aayushmaan, SUD Life Samriddhi, POS – SUD Life Sanchay and SUD Life Akshay are such plans.

Under these savings plans, you will get maturity benefits, guaranteed additions, reversionary bonuses and terminal bonuses, along with a death benefit in case of an unfortunate event.

Wealth

With the SUD Life Insurance plan, your money will get invested in any of the following wealth plans: SUD Life Wealth Builder, SUD Life Wealth Creator, SUD Life Elite Assure Plus, SUD Life Century Plus and SUD Life Century Star.

Under the SUD Life Insurance wealth plan, you will get the benefits such as one-time investment,  Assured financial assistance for your family, unique investment strategies, multiple fund options, extra allocation discount of 1%, Flexibility in the premium payment term, Fund Switches, Partial withdrawals and Tax Benefits.

Child

SUD Life Aashirwaad is a Life Insurance plan for your children that secures their future financially with guaranteed benefits at maturity. The policy comes with a maximum term of 20 years while offering you the flexibility to choose from multiple payouts, premium payment terms and policy terms.

Star Union Dai-ichi Life Insurance Group Products

Credit Life

Star Union Dai-ichi Life Insurance group plans protect your family against the risk of liquidation of assets to repay your loan or debt when any uncertainties arise. The company has SUD Life New Aashiana Suraksha and SUD Life New Sampoorna Loan Suraksha plan.

These policies safeguard your family against the loan liability in case of your demise, come with affordable premiums, give you the flexibility to choose the premium payment term, while also providing you Life Cover, Accelerated Critical Illness Benefit and Total & Permanent Disability cover.

Term Plan

Group term insurance plans from SUD Life cover a group of people – company employees, associations, banks, societies, etc. These are the following Group Term Plans – SUD Life Pradhan Mantri Jeevan Jyoti Bima Yojana and SUD Life Group Term Insurance plan.

A Star Union Dai-ichi Life Insurance Group plan provides financial protection to the insured member at competitive rates, customized protection for different age groups and does not seek any medical tests.

Retirement

This plan is specifically designed for companies having the funds to meet their obligations during the retirement period of their employees. A fixed Sum Assured of INR.1,000/- per Insured Member is provided at nominal charges, flexibility to switch between funds. And as an employer, it would be beneficial for you to have a systematic plan that manages your funds.

Star Union Dai-ichi Life Insurance Riders

Riders are the additional covers that you add to your SUD Life insurance to customize your plan. The following are the available riders:-

  1. SUD Life Accidental Death and Total & Permanent Disability – It’s a traditional plan that provides an additional benefit to the insured in the case of an unfortunate event of an accident and its after-effects.
  2. The SUD Life Family Income – A plan that protects your family against financial liabilities in case of an unfortunate demise.
  3. SUD Life COVID -19 – SUD Life Rider specifically caters to individuals wanting financial protection against COVID-19 or SARS-CoV-2.
  4. SUD Life Group Accidental – Ensure maximum benefits at any given time to enhance protection and security with this Group Term Life Insurance Scheme if 100% of the members of the base policy are covered under the rider policy at inception.

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