Star Union Dai-ichi Jeevan Ashray Plan

Key Features of Star Union Dai-ichi Jeevan Ashray

Benefits/Advantages of Star Union Dai-ichi Jeevan Ashray

1. Death benefit: Highest of the following:
2. Absolute amount assured to be paid on death (guaranteed benefit)
3. 10 X annualized premium
4. 105% of premiums paid (extra premium and service tax excluded)

Star Union Dai-ichi Jeevan Ashray policy will be terminated after payment of the death benefit and no benefits will be paid.

1. Maturity benefit: If the life assured survives the policy term and pays premiums, guaranteed maturity benefit will be paid as listed in the table below:Policy termGuaranteed maturity benefit20 years120% of basic sum assured15 years115% of basic sum assured
2. Tax benefits: Income tax benefits are available under Star Union Dai-ichi Jeevan Ashray Plan as per provisions of section 80c and section 10(10D) of Income Tax Act, 1961
3. Reduced paid up benefit: In case the life assured pays premium for three years but does not make any premium payments in the future, death and maturity benefits will be paid as listed below:
   1. Reduced death benefit: Total number of premiums paid/total number of premiums payable X death sum assured
   2. Reduced maturity benefit: Total number of premiums paid/total number of premiums payable X guaranteed maturity benefit

How the Star Union Dai-ichi Jeevan Ashray plan works

If you (life assured) opt for the Star Union Dai-ichi Jeevan Ashray plan for a policy term of 20 years and a sum assured of Rs.2 lakh on an annual premium payment mode, you will have to pay a regular premium of Rs.9290 p.a. If you survive the policy term, you will be entitled to receive the maturity benefit (120% of basic sum assured) amounting to Rs.2.4 lakhs at the end of 20 years. In the unfortunate event of your demise within the policy term, your nominee will receive the death benefit of Rs.2.4 lakhs (service tax excluded).

Star Union Dai-ichi Jeevan Ashray Plan Premium Payment

The annual premium for Life Insurance Plans should 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:

The premium rates for a basic sum assured of Rs.1000, regular pay are listed below:

The premium rates for a basic sum assured of Rs.1000 and limited pay of 15 years are listed below:

Riders

Star Union Dai-ichi Jeevan Ashray plan does not offer any riders.

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