• Star Union Dai-ichi Guaranteed Money Back Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    As responsible individuals, our goal is to financially secure our future. While we work towards our long term financial goals, there are other events in life when some cash inflow can be of great help. It could be for making the down payment for your first car, for a much needed family holiday, to pay for college applications, etc. Therefore, to help you take care of such requirements, Star Union Dai-ichi has introduced the Guaranteed Money Back Plan which rewards you with regular payouts at fixed periods. This is a traditional money back plan which helps provide financial protection and stability for the future by way of guaranteed lump sum payments while also providing for your short term financial goals. The benefits aren’t just limited to you, but also extend to your family. In the unfortunate event of your untimely demise, this plan assures financial security to your family members so they can not only maintain but also improve their lifestyle with enhanced savings.

    Eligibility for Star Union Dai-ichi Guaranteed Money Back Plan

    Minimum age at Entry Applicant must not be below 13 years at the time of taking the policy
    Maximum Age at Entry Applicant must not be above 50 years of age at the time of taking the policy.
    Maximum Age at Maturity Applicant’s age must not exceed: 60 years for a 10 year policy term; 65 years for a 15 year policy term and 70 years for a 20 year policy term.

    Key Features of Star Union Dai-ichi Guaranteed Money Back Plan

    Plan Type This is a traditional money back plan - Protection & Savings Plan
    Plan Basis Individual
    Policy Term Policyholders have the option of choosing this policy for multiple terms of 10 years, 15 years or 20 years.
    Premium Payment Term Premium towards this policy can be paid over a term of 10 years.
    Premium Payment Mode Premium payment for this policy can be done on a yearly, half-yearly, quarterly or monthly basis. Premium payment in the monthly mode can only be done via ECS or SI.
    Guaranteed Additions Guaranteed additions will accumulate every year for the entire duration of your policy term. This amount is payable along with the Final Benefit which is paid either on the maturity of the policy or in case of death, whichever happens earlier. Guaranteed Additions will only be payable on the condition that the policy is still in force.
    Free Look Period In case the policyholder is unsatisfied with the terms of the policy, they may return the policy within the Free Look period. A 15 day Free Look period is permitted for returning the policy. For policies which have been obtained via distance marketing, a free look period of 30 days is permitted. Upon the return of the policy, policyholders will receive the refund amount which will be calculated by deducting the expenses incurred by the insurance company (medical expenses, stamp duty, etc.) from the total amount of premiums paid by the policyholder at the time of taking the policy.
    Grace Period If the policyholders fails to pay the premium by the due date, they will be allowed a Grace period, starting from the date of the first unpaid due premium, to do so. For policies with the monthly premium payment mode, a Grace period of 15 days is permitted. However, if premiums remain unpaid during the Grace period, the policy will continue to be in force, along with all the applicable benefits, after all unpaid premiums due during the year in which the death has occurred, have been paid.
    Policy Lapse In case the due premiums for the first three years have not been paid within the Grace period, the policy will no longer be active. As a result, life cover provided by the policy will cease to be effective, along with any benefits payable as part of the policy.
    Policy Revival All ‘Lapsed’ or ‘Reduced Paid-up’ policies can be reinstated within 2 years, counting from the date of the first unpaid premium. The inactive policy can be revived by sending the Life Insurance company a request for the same, along with adequate evidence of sound health. Along with this documentation, the policyholder must also pay the amount of all unpaid premiums + interest applicable, for the purpose of revival.
    Nomination Facility of Nomination is allowed as per Section 39 of the Insurance Act, 1938.
    Maturity Benefit SUD Guaranteed Money Back policyholder is entitled to Maturity Benefit which consists of the Sum Assured (minus paid survival benefits) +  Guaranteed Additions which may have accumulated during the course of the policy.
    Minimum Sum Assured The minimum sum assured payable is Rs 3,00,000.
    Maximum Sum Assured The maximum amount of Sum Assured payable is capped at Rs 10,00,00,000.

    Benefits of Star Union Dai-ichi Guaranteed Money Back Plan

    • Survival Benefit SUD Guaranteed Money Back Policyholders stand to benefit from 200% of annualized premiums which will be payable as follows:

      Policy Term Benefit Payable At The End Of
      10 years 5th policy year
      15 years 5th and 10th policy year
      20 years 5th, 10th and 15th policy year
    • Guaranteed Additions – Policyholders will receive Guaranteed Addition, which accumulates every year during the term of the policy and will be paid at the time of maturity or in the event of death, whichever occurs earlier.
    • In Case Of Death – In the unfortunate event of the untimely death, the complete amount of Sum Assured, along with any accrued Guaranteed Addition will be payable, even if the survival Benefits have already been paid.
    • Policyholders can obtain a rebate on their premium for a higher amount of Sum Assured.
    • Advantage of limited premium payment for a term of 10 years only.
    • Tax Benefits – Premiums paid and benefits received under the Guaranteed Money Back Plans are eligible for tax deductions under the applicable tax regulations.

    Riders Available With Guaranteed Money Back Plan

    The following riders are available for sale with this product –

    • SUD Life Accidental Death and Total & Permanent Disability Benefit Rider – Traditional
    • SUD Life Family Income Benefit Rider - Traditional

    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 Guaranteed Money Back 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
      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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