Star Union Dai Ichi Life Insurance

Star Union Dai-ichi Life Insurance Company (SUD Life) is a merger amongst Union Bank of India, Bank of India and the Japanese Insurance firm Dai-ichi Life.

Star Union Dai-Ichi Life offers an extensive range of insurance products which cater to different types of customers and clients from various parts of the country belonging to different economic and social backgrounds. It has a strong customer base of 48 million of Bank of India and Union Bank, SUD Life and it has a wide distribution network of more than 1564 branches which make the life insurance schemes accessible to people residing in rural areas.

Benefits of Star Union Dai-ichi Life Insurance

Having an insurance is essential for securing your future financially. With its intricately designed range of life insurance products, Star Union Dai-ichi Life Insurance is the insurance partner you would love to have in your life. With their wide array of products and services designed for groups as well as individuals, SUD is the one-stop solution for people who are looking to give financial protection to their family, wish to plan their child's future, want to save money for their retirement or want to maximize their wealth.

Different Types of Life Insurance Policies Offered By Star Union Dai-ichi

Star Union Dai-Ichi provides a wide range of insurance products which are designed not just for individuals but also for groups. For individuals, the plans covered are child plans, savings plan, protection plans, retirement plans and wealth plans. For groups, SUD provides group accidental benefit rider plans, retirement plans, term plans and credit life plans

Star Union Dai-ichi Individual Plans

For individuals, Star Union Dai-Ichi has a number of plans which can  fulfill a number of purposes such as saving for retirement, providing financial protection, planning for children's future and maximization of wealth

Star Union Dai-ichi Protection Plans

Star Union Dai-ichi Savings Plans

These plans not only provide insurance but also help in generating long term savings after retirement. The plans that are featured under this scheme are described below:

Jeevan Ashray

A simple savings plan which provides interest on the premium investments except for death benefits to the loved ones if the insurer dies suddenly.

Guaranteed Money Back Plan

It is a savings plan which provides guaranteed payouts after every five years. Maturity and death benefits are also applicable under this scheme.

Jeevan Safar Plus

It is a conventional life insurance plan which guarantees 125% assured sum assured excluding the additional bonuses which are accumulated through the first five years of the term of the insurance, as well as maturity and death benefits.

Ayushmaan

SUD Life Ayushmaan is a non-linked and deferred participating plan  which provides the insured with lump sum benefits, guaranteed additions and bonuses simultaneously providing death and maturity benefits.

Aadarsh

SUD Life Aadarsh is limited premium non-linked non-participating endowment life insurance plan which is sealed with a Guaranteed Maturity Benefit and a short term of premium payment, along with a built-in additional accidental death benefit.

Star Union Dai-ichi Wealth Plans

Star Union Dai-ichi wealth policies are the schemes which ensure that your life is insured against any unlikely event and it provides you with an avenue to increase your wealth. The plans which fall under this scheme are described below

Star Union Dai-ichi Child Plans

You can easily secure your child's future from any uncertainty with the help of Star Union Dai-ichi Child Plans. The company offers the following plans to cater to the concerns of people.

Star Union Dai-ichi Retirement Plans

Everyone wishes to live a financially comfortable life post retirement. To become financially secure even after retiring from a stable job you can live the life of your dreams if you make use of the retirement schemes that are offered by Star Union Dai-ichi.

Star Union Dai-ichi Group Term Plans

These are plans which can be taken up by companies to ensure that the future of the families of their employees is taken care of. The plans which are offered under this scheme are:

Other Withdrawn Plans

• SUD Life Group Term Insurance Scheme

• SUD Life Group Gratuity Scheme

• SUD Life Group Leave Encashment Scheme

• SUD Life Group Savings Linked Insurance Scheme

• SUD Life Group Superannuation Scheme

• SUD Life Ashiana Suraksha Plan

• SUD Life Ashiana Suraksha Plus Plan

• SUD Life Shiksha Suraksha Plan

• SUD Life Paraspar Suraksha Plan

• SUD Life Group Accidental Death and Dismemberment Benefit Rider

• SUD Life Group Critical Illness Benefit Rider

• SUD Life Reverse Mortgage Loan Annuity Plan

• Star Union Dai–ichi’s Group Term Insurance Scheme

How Can You Claim Star Union Dai-ichi Life Insurance?

To register a claim with SUD Life you can follow the steps described below:

• The first step is to inform the company in regarding regarding the demise of the insured and following the intimation, they must also provide the necessary documents.

• The claim documents are reviewed in the next step by the Insurance Claim Department. If it is mentioned you must also provide additional documents or pensing compulsory documents. The claimant is kept updated through phone or email throughout the procedure.

• The decision of accepting or rejecting the claim is taken by the company and it is communicated to the claimant in writing along with the details of the amount transfer.

Documents Required for Purchasing Star Union Dai-ichi Life Insurance

To buy a Star Union Dai-ichi Life Insurance product, you will be required to submit some documents such as your identity proof, age proof, proof of income, address proof and an attested copy of your PAN Card.

How You Can Check Policy Status For Star Union Dai-Ichi Life Insurance

For checking the policy status, you will be required to visit the official website of Star Union Dai-Ichi. Then, you can provide your policy number. After you have provided the policy number, the details of your policy will be shown on the screen.

Star Union Dai-ichi Life Insurance Online Payment

For the insurance premium payment, the customers have many options. People can pay the premiums online through the website or they can make the payment offline by visiting the nearest branch.

Premium Payment For Star Union Dai-ichi Life Insurance

For extra convenience, the customers can pay their premiums through online as well as offline modes. They can pay the premium through cheques, cash and Electronic Clearing Scheme.

Star Union Dai-ichi Life Insurance Premium Calculator

If you want to find out the total premium amount payable for any life insurance policy provided by Star Union Dai-ichi, you can easily do so through the premium calculator. For estimating this amount, you will be needed to give specific details such as the tenure of the plan, age, sum assured. After all this information has been provided, your premium amount will be calculated.

Star Union Dai-ichi Life Insurance Customer Care

Star Union Dai-ichi Life Insurance was established with the aim of offering efficient and affordable insurance solutions to people. In addition to the well-appointed life insurance solutions, Star Union Dai-ichi also provides excellent customer care support. It has set up  a customer care section which deals with resolving customer queries. They also have a toll-free helpline number which can be contacted to inform the company regarding any dilemma. Moreover, the insurer has also set local corporate offices across the country where the customers can visit to register their feedback, concerns, comments or grievances related to Star Union Dai-ichi Life Insurance policy.

Star Union Dai-ichi Life Insurance FAQs

How Can I check my Star Union Dai-Ichi Life Insurance policy status?

• You can use your username and password to login to the website.

• After logging in, you can retrieve all the necessary information on your profile

• You can also call the toll free customer care number to check the status of your policy.

What are the possible modes for payment of premium available for Star Union Dai-Ichi Life Insurance?

There are two basic modes for premium payment for Star Union Dai-Ichi Life Insurance, online and offline.

Online Modes of Payment

• Debit Card payment

• Standing instructions or credit card

• Netbanking

Offline Modes of Payment

• Cash

• Cheque

• Demand Draft

Alternatively, you can pay it at any of the branch offices.

How Can I renew my policy with Star Union Dai-Ichi Life Insurance?

You can to use the auto-direct debit options which can be accessed online by using your user ID and password.

Alternatively, you can visit any of the branches to complete the renewal procedure with the help of their customer care executives.

How can I claim Star Union Dai-Ichi Life Insurance policy?

You'll be required to submit the necessary list of documents within a few days of commencement of the policy. The executives verify your documents. After you have submitted it can take upto 30 days for settling the claim.

The claims are usually settled through NEFT or are transferred directly to the home branch.

If the insurance company conducts any further investigations, the time frame for settling the claim could exceed 30 days.

What is the policy cancellation procedure?

Fill up the surrender form available on their website and then submit it in any of Star Union Dai-Ichi Life Insurance branch office with the mandatory cancellation charges. Cancellation procedure usually takes around 30 days. You can also check your cancellation status online.

What is the claim settlement stats of  Star Union Dai-Ichi Life Insurance?

The Claim-settlement ratio for Star Union Dai-Ichi Life Insurance is 95% on an average for the past few years.

What are the various types of Life Insurance plans available with Star Union Dai-Ichi Life Insurance?

The different types of life insurance policies available under Star Union Dai-Ichi Life Insurance are listed below:

• Saving Plans

• Protection Plans

• Wealth Plans

• Retirement Plan

• Child Plans

What are the age requirements for applying for insurance with Star Union Dai-Ichi Life Insurance?

The applicant should be more than 18 years of age, but less than 60 years of age for being eligible for applying for Star Union Dai-Ichi Life Insurance.