Star Union Dai-ichi Life Insurance offers wealth plans that assist the policyholder in building more savings to meet future contingencies and needs. There are three Savings Plans – Elite Assure Plan, Dhan Suraksha Plus and Wealth Builder plan.
Star Union Dai-ichi Elite Assure Plan
The Star Union Dai-ichi Elite Assure Plan is a traditional production cum savings life insurance plan that offers a source of supplementary income to the policy holder.
- Option to choose future income: The policy holder has the flexibility of choosing the future income earned through this plan.
- Assured Benefits: The policy holder will also get assured benefits such as monthly benefits as chosen by the policy holder, five times more monthly income is earned annually and at the end of the policy term, the policy holder is assured a lump sum of money which is 60 times the monthly income if you have opted for the 7-7-7 plan option and 40 times the monthly income if you have opted for the 5-5-5 option.
- Death Benefits: In the unfortunate event of death of the policy holder, his/her family will be protected financially since they will receive the sum assured under this policy plan, which is worth 11 times the annual premium paid.
SUD Life Dhan Suraksha Plus
SUD Life Dhan Suraksha Plus is a unit linked insurance plan that assures an accelerated growth in wealth for the policy holder and also ensures the financial protection of his/her family. This plan provides a choice of 4 funds to increase the growth of the money invested and also offers financial protection to the policy holder’s family if the policy holder passes away while the policy is in effect.
- Option to choose the type of investment: The policy holder can choose to invest in any one of the four funds offered under this plan and gain more income from the same.
- Life Cover: A life cover is provided to the policy holder’s family in case of any unforeseen events and this offers assured financial protection.
- Income Tax Benefits: The policy holder will receive income tax benefits on the premium and the income benefits availed on the policy, as per the stipulations of section 80C and 10D of the Income Tax Act.
SUD Life Wealth Builder
The SUD Life Wealth Builder plan is a Unit Linked insurance plan that offers financial security to the policy holder and his/her family and also enables wealth accumulation with a single investment plan.
- Monitor and Control Investment: The investments made by the policyholder through a choice of four funds is monitored and controlled by authorized personnel in order to ensure good returns on investment even with fluctuations in the market.
- Top-up Option: This plan comes with a top up option in which you can invest more funds to the initial capital in order to increase the savings earned from the same.
- Death Benefits: In the unfortunate event of death of the policy holder, his/her family will be protected financially since they will receive the sum assured under this policy plan
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GST of 18% is applicable on life insurance effective from the 1st of July, 2017