Sum Assured (Rs)
Minimum
500000
Maximum
2499000
Premium Payment Frequency
Single, Yearly, Half-yearly, Quarterly, Monthly (via ECS only)
Premium Payment Term
Single or equal to policy tenure
Policy Cover
Cover remains fixed for the tenure of the policy
Other Features
Free Look Cancellation
In case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered.
Grace Period
You are allowed to pay premiums within 30 days from due date for annual, semi-annual and quarterly premiums and within 15 days in case of monthly premium. If a due premium is not received within the grace period of 30 days, your policy will lapse and the life insurance cover, including the rider cover, if any, will be terminated.
Lapsed Policy Reinstatement
You can reinstate your lapsed policy any time (within 3 years from the due date of the first unpaid premium) by paying all the due premiums and undergoing underwriting requirements, if any.
Tax Benefits
Section 80C, 10 (10D) of the Income Tax Act, 1961 would apply. Premiums paid for SUD Life Accidental Death & Total and Permanent Disability Benefit Rider qualify for deduction under Section 80D of the Income Tax Act, 1961.
Exclusions
In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable. Further, if the Life Assured under the policy, whether medically sane or insane, commits suicide, within one year of exercising the option to increase the Sum Assured, then the amount of increased Sum Assured will not be considered in the calculation of the Death Benefit
Surrender Value
Only Single Premium Policyholders can surrender policy after completion of one policy year. Surrender value will be 60% of Unearned Premium. Unearned Premium is {1-(elapsed duration since date of commencement of policy/ Term of policy)*Single Premium}
Customer Service
Address
Star Union Dai-chi Life Insurance Corporate Office: 11th floor, Raghuleela Arcade, Opp. Vashi Railway Station, Vashi, Navi Mumbai - 400 703 Registered Office: Star House, 3rd floor, West Wing, C-5, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051
Call On
022 39546300
Available Rider(s)
SUD Life Accidental Death and Total and Permanent Disability: It covers Death due to accident within 180 days of accident.
Accidental dismemberment (loss of limbs and/or eye(s).
Permanent total disability due to an accident
Sum Assured (Rs)
Minimum
10000
Maximum
Lower of Base plan insurance or 50 lakh
Rider Premium (Rs)
Rider premiums vary for each policyholder. For instance, if a 30-year old opts for the Accidental Death and Total and Permanent Disability rider for Rs 5 lakh sum assured over a 10 year tenure; the annual rider premium works to Rs 400.
