Established in 2009, Star Union Dai-ichi Life Insurance Co. Ltd., otherwise known as SUD Life, is among the top-most life insurance providers in the industry. The Star Union Dai-ichi Life Insurance is a partnership between Dai-ichi Life, a leading life insurance company based in Japan and two of india’s major public sector banks, which are Bank of India and Union Bank of India. The insurer caters to its large scale customer base of 64 million customers with the help of 11,000 branches that are scattered all over the country, not only in urban regions but also rural. The insurer has also sponsored certain Regional Rural Banks, with over 1,960 branches, where they offer life insurance solutions to the people. Currently, SUD Life offers a number of individual and group plans. Under individual plans, they offer protection plans, saving plans, wealth plans, child plans, retirement plans, and health plans. Under group plans, they offer credit life plans, and term plans.
Star Union Dai-ichi Life Insurance Online Premium Payment Options:
To continue enjoying the benefits of your life insurance policy, it is absolutely necessary that you make all the premium payments on time. SUD Life has made the task of premium payment very simple and convenient for their customers by introducing various methods of online premium payment. Let us find out what they are.
Through the Website:
- If you are looking to pay your SUD Life premium online, you can easily do so from the insurer’s website which includes the option.
- To use this option, you must first visit the SUD Life website and click on ‘Premium Payment Options’ on the main page.
- The following page will display two tabs labelled ‘Online Payment’ and ‘Offline Payment’. Click on the first tab.
- Next, you will be required to fill in your policy number and your date of birth in order to access the payment details.
- Confirm the premium details that are displayed and make the payment.
- You can pay the premium using a debit card, credit card, or your preferred net banking account.
- After you have paid the premium, you will be provided with a receipt number for the payment. Hold on to that receipt as it may be needed for future reference regarding the transaction, if any.
Payment through Customer Portal:
- Customers can also pay their premiums by logging on to the SUD Life customer portal.
- Registered users can sign in to the portal using their user ID and password.
- Non-registered users will first have to register on the portal to use it for paying premiums online.
- To sign up, customers must click on the ‘New User’ tab on the login page.
- Next, they need to enter their client ID, policy number, mobile number, and date of birth.
- After the customer has provided all this information, you will get your login password via SMS and on your registered email address.
- You can use the same to login to the portal and make your premium payment.
Other Premium Payment Methods:
Customers who may not have access to online means of premium payment can choose to pay their policy premiums via multiple offline methods. Let us find out what these are.
At Partner-bank branches:
- SUD Life policyholders who also hold an account with Bank of India can pay their policy renewal premiums at any Bank of India branch across India.
- SUD Life policyholders who also hold a Union Bank of India account can pay their policy premiums at Union Bank of India branches anywhere in the country.
- Payment at partner bank branches can be done in cash for amounts up to Rs.49,999.
At SUD Life branches:
- Policyholders who may or may not hold accounts with Bank of India or Union Bank of India, can also pay their policy premiums at SUD Life branches across India.
- Payment at SUD Life branches can be made in cash, by cheque or Demand Draft.
- If paying via cheque or Demand Draft, the same must be drawn in favour of ‘Star Union Dai-Ichi Life Insurance Co Ltd. Policy No.XXXX’, where ‘X’ denotes the policy number.
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