Star Union Dai-ichi Life Insurance Co. Ltd. (SUD Life) is a joint venture (JV) of India’s two leading public sector banks - Bank of India, Union Bank of India and Dai-ichi Life, the 2nd largest life insurance company of Japan. The consortium of three leading financial service provider, makes the SUD life insurance plans as the paramount insurance solutions and crafted to suit the protection needs of larger mass on Indian Population. With over 1564 branches to offer the cater the insurance needs of larger rural population , SUD Life pledge a long-term commitment towards their customers and stake holders and have earned the trust of 64 million customers.
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The Policybazaar Advantage
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.
The life insurance plans offered by Star Union Dai-ichi are not only crafted with sound product knowledge & superior asset management skills but also brings the strong operational expertise for its customer.
The various segments under which by Star Union Dai-ichi offers its multiple plans to buy life insurance for Individual customers are.
Child Plans
Protection Plans
Saving Plans
Wealth Plans
Retirement Plans
1. Child Plans
Being a parent brings the fundamental responsibility of securing the Child future and protection against any untoward events. Child Insurance Plans offered by SUD life are suited insurance solution for this.
Bright Child Insurance Plan
The key features of this plan are
An endowment plan intended to provide a safe and sound financial coverage in future to our children.
Two funding variants available as option - Career Endowment and Wedding Endowment.
Availability of 125% of sum assured as Child Benefits
Complete financial coverage for the children in case of any fateful event with the parents.
A range of minimum sum assured between Rs. 5 lakh to Rs. 5 Crores.
Policy Term is 24 minus age of child at time of commencement of plan.
The Premium payment tern is either fixed as 10 years or 18 minus age of child at beginning of plan.
Multiple options Premium frequency as monthly, quarterly, half -yearly or yearly.
Available for child between Child: 0-8 years.
2. Protection Plans
SUD life Family income benefit rider plan
A traditional term plan to cover all the financial obligations of the insured’s family in the event of unfortunate demise of the insured .
Death benefit as 10% of the Rider Sum Assured to be paid to the nominee/Legal heir annually for 10 years.
Monthly payment option as 10% of Rider Sum Assured divided into 12 equal components is paid at the end of every policy ending month for a tenure of 10 years.
The policy terms could be for minimum of 5 years for Single and Regular Premium option, Premium Payment term +3 Years for Limited Pay option and maximum 30 years in all the plans
Sum assured as Minimum: 10,000/- up to Maximum: 50, 00,000/- per policy.
Plan available for individuals between 18 years to 60 years, whereas the maximum maturity age should be 65 years or the maturity age of the base plan, whichever is lowe
Accidental Death and Total & Permanent Disability Benefit Rider Plan
This is a Traditional rider plan, which caters the need of protection cover against any untoward event along with additional benefits to the insured during the contract period.
Death benefit as 100% of Rider Sum Assured to be paid to the claimant.
In the event of Total and Permanent disability due to Accident rider sum assured to the quantum of 10% of the sum assured paid in 10 equal half-yearly installments.
3 Premium payment plans as either single premium, regular premium or limited premium option of 5 to 25 years.
Policy terms are between 5 years to 47 years.
Starting from affordable premium of Rs. 8/- for sum assured of Rs. 10,000, for a standard life under regular premium payment option
Sum assured as Minimum: 10,000/- per Policy up to Maximum: 50, 00,000/- per Life.
Plan available for individuals between 18 years to 65 years , whereas the maximum maturity age should be 71 years or the maturity age of the base plan, whichever is lower
A comprehensive term insurance plan intended to provide financial assistance to the family of insured life, in the event of sudden demise and that too at an affordable premium.
High sum assured offering complete financial security to the family.
Easy on the pocket premium as minimum of Rs.500 per month
Policy term as 10 to 30 years.
Enhanced sum assured as compared to other traditional plan , ranging between Rs.25 lacs to 100 crores.
savings on Premium for Higher Sum Assured .
Income Tax rebates are available under section 80C & 10(10D) of IT rules.
Sum assured between Rs. 25 lacs to Rs. 1 crs
Available for customers between 18-60 years
3. Retirement Plans
SUD LIFE ASSURED INCOME PLAN
An endowment plan customized for financial assistance post retirement .
Assured annual income to take care of all financial obligations in future.
Guaranteed return on the maturity of plan.
Multiple Payout period to choose form 10, 15, 20 or 25 years
Assured Annual Payout of Rs. 24000 to Rs. 50, 000, 00/- depending on the premium amount opted.
Premium Payment Term of 10 or 15 years
Yearly, Half Yearly, Quarterly or Monthly premium frequency available.
The death benefit includes Death Sum Assured, Additional Annual payouts as opted and other Scheduled Annual Payouts.
Available for customer between age group 8 to 55 years.
a Non-Linked, Non-Participating Individual Immediate Annuity plan preordained to create stream of income and take care of all monthly financial obligations.
Available as single premium payment term plan
Yearly, Half-yearly, Quarterly, Monthly as annuity payment frequency
The Minimum Purchase Price is Rs. 1 lac
Aimed to create lifelong source of income with two plan variants.
Plan A – Offers the purchase of immediate annuity from either savings done earlier or from any Deferred Pension Plans from SUD life.
Joint Life Annuity (100%) with Return of Purchase Price
4. Savings Plans
SUD LIFE AAYUSHMAAN
A Non Linked Deferred Participating Plan incorrigible for those who wants to secure their future and achieve a predetermined financial objective in long term.
Survival benefit of lump sum benefits and lifelong financial protection
Enhance plan benefits with Guaranteed Additions and Bonus
Flexibility to choose sum assured in the range of minimum Rs.1, 50,000 and maximum Rs.100 crores in the multiples on 1000 and policy term as per requirement.
Available for customer between age group of 18 years to Maximum 50 years.
Annual, Half-Yearly, Quarterly or Monthly premium payment frequencies
A onetime, Unit Linked Life Insurance Plan to earn return on the capital investment combined with the peace of mind with Insurance coverage.
Augmentation of capital through one time investment.
4 different fund option to take have full control on investment.
Top up option to invest surplus capital as per market conditions.
Minimum premium of Rs 1 lac.
Maturity benefit as the fund value on date of maturity.
Available for customer between age group of 8 to 60 years.
Withdrawn Individual Products
Apart from the above mentioned products, Star Union Dai-ichi Life Insurance Co. Ltd has withdrawn 13 products from 1st January, 2014.
SUD Life Jeevan Safar
SUD Life Pure Term Assurance Plan
SUD Life's Instant Endowment Plan
SUD Life Defined benefit Endowment Plan
SUD Life Defined Growth Endowment Insurance Plan
SUD Life Suraksha Kavach Plan
SUD Life Dhan Suraksha 3
SUD Life Dhan Suraksha Premium 3
SUD Life Prabhat tara 3
SUD Life Dhan Suraksha Express
SUD Accidental and Total and Permanent Disability Benefit Rider
SUD Life Critical Illness Benefit Rider
SUD Life Immediate Annuity Plan
5. Group Plans
Star Union Dai-ichi Life Insurance brings its expertise in crafting the insurance needs of group customer. May that be employee – employer group or a common group of people with common intention.
Various categories of group insurance plans are
Credit life plans
Retirement plans
Term plans
Credit life plans
LOAN SURAKSHA
A financial coverage plan to a certain any financial obligations of the insurer’s family in the event of death of the insurer.
One time premium payment plan.
Decreasing term insurance plan at an affordable premium
Coverage during moratorium period of your loan such as house loan etc.
Flexibility to induct co-borrower for joint coverage.
Special saving for High Sum Assured and for Joint borrowers
Available for a term of 2 years to 30 years.
Minimum Sum Assured as Rs.5 lacs , Rs.2 lacs and Rs.1 lac for home loans , vehicle loans and personal loans respectively.
SUD LIFE SHIKSHA SURAKSHA 2 PLAN
A tailor made credit life plan for the education loan borrowers allowing then to achieve the dream of higher education without worrying the liability of loan in any unforeseen situations.
Comprehensive coverage against existing & new education loans to ensure that loan liabilities are not passed on to family members.
Single premium based plan.
Decreasing Term Insurance plan at an reasonable premium
Coverage on full loan amount in either case of interest being paid or interest being accumulated during moratorium period.
Sum Assured between Rs 25,000/- to 5 crores.
SUD LIFE GROUP ACCIDENTAL BENEFIT RIDER
A rider plan offering add-on benefits in case of accidental death or accidental events of the insured member
Can be integrated with any Group Term Life Insurance plans
1 year plan with renewable option.
Minimum sum assured as Rs. 1000 per member up to maximum limit of Rs. 50, 00,000.
Retirement plans
SUD LIFE GROUP RETIREMENT BENEFIT PLAN
A Retirement Benefit Plan for all Employer-Employee groups to efficiently manage employees’ gratuity and/or leave encashment.
Availability of 4 different fund options to earn market linked returns
Investment guidance to earn more return at nominal charges.
Flexibility for switch and payment of contributions.
Income Tax benefits as per prevailing IT reules.
Term plans
SUD LIFE GROUP TERM INSURANCE PLUS
An annually renewable group term assurance plan to provide comprehensive insurance protection to group members in a cost-effective way.
Complete Peace of mind through financial protection for the insured member at viable rates
Unparallel benefit to customize suitable protection for the group and premium payment as per the requirement of group.
One year renewable policy term
Simple and hassle free enrollment procedure.
GROUP TERM INSURANCE SCHEME IN LIEU OF EDLI
A term plan, which provides life insurance cover to all the employees who are covered under the Employees Provident Fund.
Complete financial protection to employees’ families at a nominal cost.
Beneficial for employer under IT rules as the premiums paid are treated as business expense for Income Tax purposes.
All premiums to be paid by the employer only.
Minimum sum assured as Rs.1,32,000 to maximum Rs.10,00,000
SUD LIFE PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANAA
A one year renewable group term insurance scheme that provides life cover at low cost to the members of savings bank account
A protection cover of Rs. 2 lacs.
Low premium of Rs. 330 p.a so as to cover larger extension of population specially economically weaker section of society
Available for age group of 18 years to 50 years.
GROUP WITHDRAWN PRODUCTS
Apart from the above mentioned group products , Star Union Dai-ichi Life Insurance ltd has provided few products earlier , however now have stopped sourcing the same.
SUD Life Group Term Insurance Scheme
SUD Life Group Term Insurance Scheme in lieu of EDLI
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
13th May 2016: Star Union Dai-ichi Life has recently launched a new pension plan with some unique features. SUD is an Indo-Japanese joint venture between the Indian banks- BOI and UBI, and the Japanese Dai-ichi Life Insurance Corporation.The company announced that the newly launched guaranteed pension plan will enable the policyholder to create a pre-promised corpus and will also provide a regular post-retirement pension.Once you policyholder pays all the premiums regularly, he/she will be provided with a lump sum amount after the date of retirement. This sum can then be invested in an annuity which will provide a regular monthly income.
The MD & CEO of SUD Life Mr. Girish Kulkarni, has said that Guaranteed Pension Plan will help the customers to plan for their golden years after retirement. He also added that the plan will help them to meet their unplanned financial needs by acting as an emergency corpus.SUD also provided details about the plan in their statement, such as - the minimum entry age for the plan is 35 years to a maximum of 65 years; and that the plan has the option for single as well as limited premium paying term.
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