Star Union Dai-Ichi Life Protection Plans
The Life Protection Plan offered by Star Union Dai-ichi life is called the Premier Protection Plan. This is a term insurance plan that provides financial security to a policyholder's family against any unfortunate and unforeseen incident.
Premier Protection Plan
This is an affordable life insurance plan that offers great benefits to the policyholder and his/her family.
Features & Benefits
- Sum Assured: The sum assured ranges from Rs. 25, 00,000 to Rs. 100, 00,000.
- Premium Rebate: Premium Rebates are available if you opt for a higher sum assured.
- Income Tax Benefits: Get tax exemption and income tax benefits under section 10D and section 80C, as stipulated under the Income Tax Act, 1961.
- The minimum premium to be paid by the policyholder is Rs. 500 on a monthly basis, Rs. 2500 on a half yearly basis and Rs. 5000 on an annual basis.
- The policy cover extends to a period of 10 years to a maximum period of 30 years, as per the tenure option chosen by the policyholder.
- Premium can be paid on a monthly, half-yearly and yearly basis via Electronic Clearance System or Standing Instruction.
Accidental Death and Total and Permanent Disability Benefit Rider
This rider offers additional protection to the policy holder's family in the event of the untimely death of the life assured. Coverage is offered for death due to accident as well as for total and permanent disability caused due to an accident.
Features & Benefits
- Policy Term: The term of the rider will be equal to the term of the base policy if it has been taken along with the base policy. Otherwise, the minimum Accidental Death and Total and Permanent Disability Benefit rider policy term is 5 years and the maximum term is 47 years.
- Annual Premium: For a Sum Assured worth Rs. 10,000, the annual premium is a minimum of Rs. 8 for the regular premium payment option, for any policy period that has been chosen. For a Sum Assured worth Rs. 50, 00,000, the annual premium is a minimum of Rs. 71,300 for the single premium payment option for a policy period of 47 years.
- Sum Assured: The minimum Sum Assured on the Accidental Death and Total and Permanent Disability Benefit Rider is Rs. 10,000 for each policy and the maximum Sum Assured on the Accidental Death and Total and Permanent Disability Benefit Rider is Rs. 50, 00,000 per life assured.
Family Income Benefit Rider - Traditional
This rider offers additional protection against financial liabilities arising out of the untimely demise of the life assured. The Sum Assured under this rider is paid out to the policy holder's family. In the event of death of death of the insured individual, the legal heir or the nominee of the deceased will receive installments of 10% of the Sum Assured on the Rider, for a period of up to 10 years. The Rider Sum Assured is paid separately from the Sum Assured on the base life protection plan.
Features
- Policy Term: The term of the rider will be equal to the term of the base policy if it has been taken along with the base policy. Otherwise, the minimum Family Income Benefit Rider policy term is 5 years for a Single/ Regular ay policy and 3 years for the limited pay policy. The maximum term is 30 years.
- Sum Assured: The minimum Sum Assured on the Family Income Benefit Rider is Rs. 1, 00,000 for each policy and the maximum Sum Assured on the Family Income Benefit Rider is Rs. 50, 00,000 per life assured.
- Mode of Premium Payment: the available modes for paying premium on the Rider policy is through Electronic Clearance System or Standing Instruction. It can be paid on a single, monthly, half-yearly, quarterly and yearly basis.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
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