iSelect Star Term Plan

The iSelect Star Term Plan permits to increase the life cover at every key life milestones. This plan will not let you reconsider any big decisions in life. The iSelect Star Term Plan will help to secure a good life for the family members.

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Get ₹1 Cr. Life Cover at just ₹411/month*
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
Happy Customers

*Tax benefit is subject to changes in tax laws. *Standard T&C Apply

** Discount is offered by the insurance company as approved by IRDAI for the product under File & Use guidelines

Get ₹1 Cr. Life Cover at just ₹411/month*
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
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It is a highly flexible plan, which can be aligned to the life stage and insurance needs. This plan also offers various options not only for coverage but for benefit payouts and premium payment.

Eligibility Criteria of iSelect Star Term Plan

The table below shows the eligibility criteria of the iSelect Star Term Plan:

Parameters

Minimum

Maximum

Entry Age 

18 Years

65 Years

PPT of 60 years (Life Option)* - 55 Years

 

PPT of 60 Years (Other Options)* - 50 Years

Single-Premium Option - 45 Years

 

Non-Working Spouse- 50 Years

Maturity Age

28 Years

80 Years

 

Whole Life Coverage* Under Life Option - 99 Years

 

ADB / ATPD - 75 Years

Policy Term

 

Life Option - 5 Years**

 

Other Options - 10 Years

Life Option - 62 and 99 years minus the age at entry for Whole life Coverage plan

 

Other Options - 30 Years

Premium Payment Term

(PPT)

Life

Single-Premium ( Unavailable for Whole Life Coverage)

 

Limited Pay - 5* / 10 / 20 / 25 / Upto 60 Years****

 

Regular Pay - The same as the term of the policy

 

Life with Return of Premiums

Limited Pay - 10 / 20 / 25 / Upto 60 Years***

 

Regular Pay - The same as the term of the policy

 

Life Plus

Limited Pay - 10 / 20 / 25 / Upto 60 Years***

 

Regular Pay - The same as the term of the policy

Sum Assured

Life Option - ? 25,00,000

 

Optional In-Built Covers - ? 25,00,000

 

Other Options - ? 15,00,000

As per Underwriting Policy as Approved by the Board

 

For ADB - ? 3,00,00,000

 

For ATPD PPP - ? 1,00,00,000

 

For Non-Working Spouse - ? 25,00,000

ADB - Accidental Death Benefit, ATPD PPP - Accidental Total and Permanent Disability Benefit Premium Protection Plus

*Option not available if opted for Spouse Coverage

** The policy term of 5 to 9 years is only available for the age of entry at 35 years and above. Similarly, a PPT of 5 years with a policy term of up to 9 years is available only for the age of entry at 35 years or above. 

***The minimum premium paying term for this option will be 5 and 10 years for the Life Option and other Plan Options, respectively. 

**** Option not available if opted for Spouse Coverage and the minimum premium paying term for this option will be 5 and 10 years for the life Option and other Plan Options respectively.

Benefits of iSelect Star Term Plan

The iSelect Star Term Plan has a plethora of benefits that other companies in the sector fail to offer at an affordable price. Listed are a few of the benefits of the plan: 

  1. Plan Options

    Life Insurance has three options: Basic Life Insurance, Life Insurance with a Return of Premium, and Life Plus.

    Under the Plan Option Life, if the life insured dies or is diagnosed with a terminal illness, either of, which occurs first, the Sum Assured as promised under the clause for Death is payable to the nominee. 

    Both the Life Insured and Spouse of the Life Insured can be covered for the term of the policy under the pretext of specific terms and conditions.

    Under the Plan Option Life with Return of Premium Plan, if the policyholder dies or is diagnosed with any terminal illness, either of, which occurs first, the Sum Assured as promised under the clause for Death is payable to the nominee.

    If the policyholder outlives the above conditions, he/she is entitled to the total premiums paid upon maturity of the plan. 

    For the Option Life Plus, benefits of both Life and Life with Return of Premium Plan are applicable with an added benefit that the policy will continue even after the maturity till the life insured turns 99 years old. This is the Extended Cover Period.

    Sum Assured is paid out under the Extended Cover Period if the life insured dies or is diagnosed with a terminal illness. On attaining the age of 99 years, the Sum Assured is paid to the policyholder, and the plan terminates upon successful payout. 

  2. Coverage Options (Applicable with the Plan Option Life)

    Increased Sum Assured for the three Life Events. To avail of the benefit, one needs to notify the insurer of the Life Event within a year from the date of the Life Event.

    Upon marriage, an increase of 50% of the Sum Assured is applicable. 

    In the event of childbirth, an increase of 25% of the Sum Assured is applicable. 

    In the event of the purchase of a new house, an increase of 25% of the Sum Assured is applicable. 

  3. Built-in Coverage Options (Applicable with the Plan Option Life)

    Additional coverage with four in-built coverage options listed below:

    1. Accidental Death Benefit (ADB)

      Additional Sum Assured is paid to the nominee if the life insured dies due to an accident. 

    2. Accidental Total and Permanent Disability (ATPD) Premium Protection

      In an accident, if the life insured suffers a disability, either permanent or total, the Company will waive off all future premiums, and the policy continues till its term period. 

    3. Accidental Total and Permanent Disability (ATPD) - Premium Protection Plus

      Same as the above benefit, but the life insured is paid the Sum Assured promised under the ATPD clause. 

    4. Child Support Benefit (CSB)

      In the event of the death of the life insured or diagnosis of any terminal illness, the life insured is paid an additional Sum Assured under the CSB clause to safeguard the future of his/her child. 

  4. Benefit Payout Options

    The three payout options are:

    In the payout option Lump-Sum, upon the Life Insured’s death, the nominee gets the whole Sum Assured.

    In the payout option Monthly Income, one can opt to get a monthly income for 120 months or till the expiration of the policy for up to 40 years. It could be level monthly income or increasing income at 5/10% per annum. 

    In the payout option Part Lump-Sum Part Monthly Income, the proportion between the both could be 25%-75% or 50%-50% or 75%-25%. The monthly income will remain fixed, or it will increase at a rate of 5%/10% per annum.

Documents Required to Buy iSelect Star Term Plan    

Listed below are the documents required to buy the iSelect Star Term Plan: 

  • Identity Proof
  • Proof of Residence
  • Passport Sized Recent Photographs
  • Proposal Form
  • Pan Card/ Aadhaar Card Number
  • Birth Proof
  • Bank Details

How to Buy the iSelect Star Term Plan Online?

To buy the iSelect Star Term Plan online, one needs to visit their website and fill in some relevant information. The policy could be bought in 4 easy steps. The steps are: 

  • Visit the web portal of the life insurer, and under "Life Insurances Plans," select the "Buy Online" option, thereafter select iSelect Star Term Plan. 
  • A new window will be opened, and one needs to fill in their personal information and needs to mention whether they're a smoker or not, select the Sum Assured amount and term of the policy.
  • Upon submitting the form, further details such as the place of residence are required. Further, the person is given an estimate of the premiums.
  • Lastly, the person needs to submit the Aadhaar Card and Pan Card number along with the Proposal Form. One can now pay the premium, and the policy will be issued. 

Exclusion Under iSelect Star Term Plan

If the life insured commits suicide within 12 months from the commencement of the policy, the beneficiary is entitled to 80% of the premiums paid or the surrender value, whichever is higher. In the event of suicide within 12 months of the revival of the policy, the same conditions apply. 

If the policyholder is diagnosed or treated for any illness deemed terminal within 48 months before the commencement of the policy, exclusions are made, and no death benefit is paid. Death due to the influence of alcohol or abuse of drugs shall not be entitled to the death benefit.

FAQ's

Written By: PolicyBazaar - Updated: 15 July 2021
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iSelect Star Term Plan Reviews & Ratings

0 / 5 (Based on 7 Reviews)
(Showing Newest 7 reviews)
Parul
Punjab, August 02, 2021
Inexpensive term plan
My friend is 30 year old and I am 25 years old and noticed a difference in our term plan price. I visited Policybazaar and read some blogs there. I found out that term plans are cheaper if you buy at young age. I am glad to buy this plan at the right time.
Amrita
Chail, August 02, 2021
Tax savings
I recently bought a term insurance policy from the website of Policybazaar. My plan has amazing features and some additional benefits due to an addon. The best part is I can also enjoy a tax rebate. I am so glad to buy this plan.
Pratap
Niwari, August 02, 2021
Purchased Online
My friend asked me to buy a term insurance plan online as it is cheaper and more convenient. I visited the website of Policybazaar and bought a term policy which offers great benefits at cheap rates. My online experience has been great. Thank you team.
Anurag
Modinagar, August 02, 2021
Protection against COVID
The pandemic had me worrying about the future of my family in my absence. I have been searching for a pure insurance policy to safeguard my family against any eventuality. With the help of Policybazaar now I my family is secure as a bought a specialized term plan made to help family of the policyholder.
Kashish
Meerut, August 02, 2021
Best customer service
I did not understand much about insurance but I knew one thing that I needed to secure the future of my family. I took help from the team of Policybazaar and they suggested me what would be best for me. I am happy with my plan. Thank you so much team.
Komal
Palwal, August 02, 2021
Huge coverage
I recently bought a term plan from the website of Policybazaar and I am happy with the product. I got a higher coverage term plan with additional benefits and at cost effective price. Now I am worry free for the future security of my family in my absence. Thanks.
Harisha
Gurgaon, August 02, 2021
Quick to buy
My friend suggested me to buy a term insurance plan online. I visited the website of Policybazaar and it took me about half an hour or maybe less to buy the plan online. The experience was smooth and I am happy with my plan. Kudos team.
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