• Star Union Dai-ichi Aayushmaan Plan

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    Plan Benefits

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    Star Union Dai-ichi Aayushmaan is a non-linked deferred participating plan offered by Star Union Dai-ichi life insurance. The said plan provides lifelong protection to your family besides offering lump sum benefits in addition to guaranteed additions, bonuses and riders for additional protection.

    Eligibility Conditions for Star Union Dai-ichi Aayushmaan

    Features Particulars
    Minimum entry age 18 years
    Maximum entry age 50 years
    Minimum age at maturity 70 years (last birthday)
    Maximum age at maturity -

    Key Features of Star Union Dai-ichi Aayushmaan

    Features Particulars
    Plan type Non-linked deferred participating plan
    Plan Basis Individual
    Policy term 15, 20, 25 and 30 years. An extended life cover which is equal to the basic sum assured is available under this plan upon policy maturity
    Premium paying terms Equal to the policy term
    Premium payment frequency Annual, monthly, half-yearly or quarterly mode
    Guaranteed Additions 3% of the sum assured at the end of each policy year for 5 years
    Grace period 15 days (monthly mode) 30 days (annual, quarterly and half-yearly modes)
    Free-look period 15 days 30 days (through distance marketing)
    Policy revival Two years from the date of the unpaid premium
    Loan facility Available under this plan for 70% of the surrender value
    Alterations -
    Nomination Available under this plan as per section 39 of the Insurance Act, 1938
    Minimum Sum Assured Rs.1,50,000. Basic sum assured should be in multiples of Rs.1000
    Maximum Sum Assured Rs.100 crores
    Policy coverage Death benefit, maturity benefit and terminal bonus

    Benefits/Advantages of Star Union Dai-ichi Aayushmaan

    • Maturity benefit: If the life assured survives the policy term, he or she will be paid the basic sum assured, accrued reversionary bonuses, guaranteed additions and terminal bonus. The life assured can also avail of an extended life cover for the remaining period of his or her life after receiving the maturity benefit.
    • Death benefit: If the life assured dies within the policy term, he or she will be paid the death sum assured, terminal bonus, guaranteed additions and reversionary bonuses. The death benefit will be the highest of the following:
      • Guaranteed sum assured at maturity or
      • 10 X annualized premium or
      • Amount to be paid on death

      The minimum death benefit payable will be 105% of premiums paid (service tax and extra premium not included) on the date of death

      In case the life assured dies after the policy term but within the extended cover period, his or her nominee will receive the basic sum assured, following which, the contract will be terminated.

    • Terminal bonus: Terminal bonus is paid with maturity and death benefits under this plan
    • Simple Reversionary Bonus: Simple reversionary bonus will be declared from the sixth policy year of this plan depending on the prevailing economic scenario
    • Guaranteed Additions: 3% p.a. of the basic sum assured is added to the policy for five policy years
    • High sum assured rebate: The discounts offered by this plan are listed in the table below:

      Basic sum assured Discount Per 1000 basic sum assured
      Rs.1.5 lakh to Rs.4.9 lakh __
      Rs.5 lakh to Rs.9.9 lakh 1.5
      Rs.10 lakh to Rs.24.9 lakh 3
      Greater than or equal to Rs.25 lakh 4
    • Tax benefits: Income tax benefits are available under this Life Insurance plan as per provisions of section 80c and section 10(10D) of Income Tax Act, 1961

    How the Star Union Dai-ichi Aayushmaan works

    If you purchase the Star Union Dai-ichi Aayushmaan plan for a policy term of 15 years and a basic sum assured of Rs.3 lakh and survive the policy term, you will receive the maturity benefit which is a combination of basic sum assured, accrued guaranteed additions and accrued bonuses. In the unfortunate event of your demise in the 10th policy year, your nominee will receive the death sum assured (higher of basic sum assured or 10X annualised premium or 150% of basic sum assured), accrued guaranteed additions and accrued bonuses. In the event of your death after the policy term, your nominee will receive the basic sum assured of Rs.3 lakh, following which, the policy stands terminated.

    Premium Payment

    The premium has to be paid depending on the premium payment mode chosen by you. The premium payable has to be multiplied by modal factors as listed in the table below:

    Yearly Quarterly Half-yearly Monthly
    1 0.2595 0.5125 0.0872

    Premium rates for a basic sum assured ranging from Rs.1.5 lakh to Rs.2.9 lakh are listed in the table below:

    Age Policy Term
      15 years 20 years 25 years 30 years
    18 87.7 65 52.1 43.7
    20 88.1 65.4 52.3 44
    22 88.6 65.7 52.7 44.3
    24 89.1 66.1 53 44.6
    26 89.7 66.6 53.4 45

    Riders

    Star Union Dai-ichi Aayushmaan offers two riders, namely, SUD life accidental death and total and permanent disability benefit rider and SUD life family income benefit rider.

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    Star Union Dai-ichi Aayushmaan Plan Reviews

  • Page 1 of 1
    • Star Union Dai Ichi Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I got better response from STAR UNION DAI-ICHI LIFE INSURANCE Company. There is an option to pay the premium amount through the internet banking to the STAR UNION DAI-ICHI LIFE INSURANCE. The plan benefits and the coverage is good with this policy. I hold the life insurance policy for past 5 years. I pay the premium of Rs,40,000. This policy has the tenure of 15years.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jan 16, 2018
    • Star Union Dai Ichi Life Insurance
      "Good service "
      0.5 3.5/5 "Pretty good"
      I have Star Life insurance is very beneficiary for the customer i get a policy coverage nearly 2-3 lakhs for myself as well as for the dependent the payment options are good,its done through online.my monthly premium amount is 900 its very much convenient.
      Was this review helpful? 0
      , jammu
      Reviewed on Oct 17, 2017
    • Star Union Dai Ichi Life Insurance
      "Need to improve"
      0.5 5.0/5 "Blown Away!"
      Star DAI- CHI life insurance policy is the one of the insurance policy, which I had taken before five to six years of time. Premium is around 3.5 lakh Rupees per annum and the services needs to be get improved. Payment mode is a flexible one with them.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 10, 2017
    • Star Union Dai Ichi Life Insurance
      "Pretty okay..."
      0.5 5.0/5 "Blown Away!"
      I have taken life insurance from Star union. Plan benefits an all good. I have taken for 5 lakhs coverage. For the first year we need to pay the premium. They have lots of option and I am okay with them. Only thing is, they have some lock in period for 1 or 2 years.
      Was this review helpful? 0
      , karur
      Reviewed on Nov 11, 2015
    • Star Union Dai Ichi Life Insurance
      "Recommendable..."
      0.5 5.0/5 "Blown Away!"
      I have completed 2 years payment. I am getting benefits but it dependence in terms of renewal. I would recommend this Star union life insurance for middle class people. This policy covered full family. I used to make premium amount once in a year. Premium amount was quiet good 5000rs.
      Was this review helpful? 1
      , namakkal
      Reviewed on Nov 06, 2015
    • Star Union Dai Ichi Life Insurance
      "Dark clouds ahead"
      0.5 3.0/5 "Satisfactory"
      I have endowment plan for the tenure of 10 years from Star union dia life insurance. Will get sum assured amount after the maturity period with the bonus. Policy coverage is up to the insured amount. Only accidental and natural death y is been covered . Payments have to be made only through the agent.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 23, 2015
    • Star Union Dai Ichi Life Insurance
      "Transparency in providing all the details upfront with proof"
      0.5 5.0/5 "Blown Away!"
      It is one of the best insurance company offering entire gamut of insurance product in a very competitive rate and have a very open and online system to get any information from the two sponsoring banks any branch in anywhere in the world . I recommend it emphatically
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Sep 17, 2015
    • Star Union Dai Ichi Life Insurance
      "Very Good"
      0.5 3.0/5 "Satisfactory"
      I applied for a life insurance with Star Union Dai-Chi Life insurance the processing and the documentation was very transparent and the customer service executives are very friendly in approach and the whole process got completed in ten days the overall service is good.
      Was this review helpful? 8
      , vijayawada
      Reviewed on Jul 05, 2014
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