Group insurance plans are ideal for a particular set of people who require similar financial assurance. Life insurance policies ensure that a healthy economic development is maintained. In terms of financial uncertainty such as these, it is important to stay secure financially, not only when customers are earning but also for the future. This is especially the case when individuals procure loans and need some measure of security while repaying it so that they do not lose all their savings in repayment. Star Union Dai-ichi Life offers credit life plans for the same purpose.
Why Star Union Dai-ichi Life?
A joint venture between Union Bank of India, Bank of India and Dai-ichi Life, Star Union Dai-ichi Life Insurance Company Ltd. comes with the experience of its founding companies. A number of insurance policies are available for numerous requirements. The company, so far, provides products to more than 64 million customers throughout the country. The reputation of this company is also unparalleled, making it one of the most sought after companies in the country today.
Star Union Dai-ichi Life Loan Suraksha
This affordable term plan allows customers to prepare themselves for uncertainties and also takes care of their finances.
- Customers receive coverage against both existing as well as new loans so that liabilities are not passed on to their families.
- Policyholders procure a term plan is decreasing in nature at premiums that are pocket friendly.
- During the moratorium term of their loan, customers can still procure coverage.
- Joint borrowers can be covered under this policy.
- Customers can avail tax benefits under section 10(10D) and 80(C).
- For joint borrowers and high assured sum, customers can avail discounts.
Star Union Dai-ichi Life Shiksha Suraksha 2 Plan
This plan is designed especially for those who have availed education loans for the purpose of higher education. Thanks to this loan option, customers need not worry about their families acquiring loan liabilities.
- Customers receive coverage against loans that are already in existence and also new ones so as to ensure that these liabilities do not get passed on to other members of family.
- Customers can procure this decreasing term plan at economical premiums.
- Tax benefits can also be procured under section 10(10D) and 80(C).
- In case of interest amount getting accumulated or interest amount being paid during moratorium period, the complete amount of loan is covered.
- Special discount is offered to customers if a high assured sum is selected.
Procuring an insurance policy is not as easy as it sounds as it takes a lot of research and review to purchase the right one. There are a plethora of companies selling policies that are highly varied. In order to select the best option, customers must keep in mind their financial status, needs and requirements and also the company’s reputation and claim settlement ratio, among other factors. By keeping these factors in mind, customers can procure an insurance policy that is most suited to them,
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GST of 18% is applicable on life insurance effective from the 1st of July, 2017