Star Union Dai-ichi Life Insurance Co. Ltd. (SUD Life) is a joint venture (JV) between Bank of India, Union Bank of India and Dai-ichi Life, a leading life insurance company of Japan.
Bank of India and Union Bank are leading Indian public sector banks and have a robust nationwide network of more than 11000 branches that cater to more than 64 million customers. Bank of India and Union Bank have sponsored select Regional Rural Banks, which provide SUD Life access to more than 1950 branches that make life insurance products available in rural areas.
Dai-ichi Life is the second largest life insurance company in Japan and is one of the top ten life insurers in the world. Dai-ichi Life was established in 1902 and is a recognized brand name across the globe. Dai-ichi Life is renowned for sound product knowledge, superior asset management skills, and strong operational capabilities to manage life insurance businesses globally.
SUD Life is committed to providing insurance products across various strata of society and geographies as per the needs of the customer. At SUD Life, the customer commands topmost priority.
The promoters of SUD Life have a long-term commitment towards their customers and stakeholders and have earned the trust of 64 million customers.
Insurance is directly connected to uncertainty. As people can’t foresee their destiny so they attempt to protect the same with insurance.Whether it is an automobile or our own health, we don’t need to take any chances and consequently, we shop for insurance. In reality, all of us recognize that we're going to get a few forms of benefits out of our investments. Now when it comes to life insurance, we basically tend to grow to be reluctant. This especially happens as life insurance is somewhat related to demise and people don’t like to imagine about their own passing over.
The future is unpredictable. And, insurance is a manner of making plans for the uncertainties of life. Life insurance offers monetary protection to your family when they need it the maximum i.e. whilst you aren't anymore. It acts as a supply of financial and emotional guide. By way of paying smaller premiums during your earning years, you're making sure that your loved ones have the sufficient financial cushion if they outlive you.
Broadly lifestyles insurance gives a number of benefits like:
You could have many dependents like your partner, youngsters, aged dad and mom. In case you are the only breadwinner within the family and something occurs to you, how is your family, who are already coping with their loss, going to manipulate the monetary void? Life insurance is designed to cover such risk.
Even if you are not the sole breadwinner, the lack of your profits will constrain the lifestyle of those you leave behind. The payout from an insurance plan will compensate for your earnings to some extent.
Humans accumulate plenty of debt, including home mortgage, car mortgage and so forth. Those debts can pose a large financial burden for your own family. A life insurance policy will ensure that your family has enough to clear off your money owed.
Your children will need financial assistance in their education and other such expenses related with their growing up. Through life’s uncertainities. A life coverage will provide them the help they want, even in case you aren’t there.
Life coverage brings peace of mind. You don’t have to constantly fear about how your own family could cope financially in the event when you are not around.
Many life insurance plans also double up as savings gadgets. You can get policies that invest in the markets that pay out bonuses and dividends or even regulations that can be converted into pension plans. The old age payouts come up with a financial guide to your golden years.
Many life insurance plans can be bought with health insurance riders that cope with your medical and hospitalization expenses. With hospital treatment being as steeply-priced as it is these days, any such facility is beneficial.
Premiums paid towards life insurance carry positive tax benefits. Under section 80C, you could declare deductions for up to Rs.150,000. Under section 10D, the loss of life advantage or maturity advantage is also tax-free (so long as you meet the situations of the segment).
In an economic emergency or whilst you are facing unexpected scarcity of funds, you may take loans towards your lifestyles coverage policy. The loan won’t have an effect on the final advantages of the policy.
Protection solution helps you safeguard your family against unfortunate events in life. Choose an affordable term plan and ensure that your loved ones are well protected against these unfortunate events and the possibility of financial strain.
An affordable term plan to provide financial assistance to your family in case of uncertainties.It is a comprehensive term insurance plan that ensures financial protection for your family at an affordable premium.
Savings Insurance Plan allows you to enjoy the benefits of a long-term savings and helps you to save money regularly.
Star Union Dai-ichi's Guaranteed Money Back Plan, which gives regular payouts after every five years. Along with your short-term financial goals, this traditional plan ensures thefinancial stability of your future with aguaranteed lump sum at maturity.
SUD Life Jeevan Ashray is an affordable life insurance plan that assures a steady growth of your savings and also provides financial protection to your family in case of uncertainties.
SUD Life AAYUSHMAAN – a Non-Linked Deferred Participating Plan that pays lump sum benefits and lifelong financial protection, a plan to help you ensure that nothing comes in the way of your family's happiness.
This plan offers you a Guaranteed Maturity Benefit with a short premium paying term and enhances your protection with an inbuilt additional accidental death benefit.
SUD Life - Praptee is a Non-Linked Non-Participating Money back Protection Cum Savings Plan that gives increasing money back payouts at regular interval of 3 years to keep pace with your growing lifestyle needs.
SUD Life Samriddhi is a Non-linked Deferred Participating Endowment Life Insurance Plan to build your savings & boost them with guaranteed additions and bonuses to offerfinancial protection for your family.
POS – SUD Life Sanchay is a point of sale Regular Premium Non-Linked Non-Participating Endowment Life Insurance Plan that helps in generating asupplementary source of income for you and your loved ones.
A Unit Linked Insurance Plan (ULIP) is a product offered by insurance companies that, unlike a pure insurance policy, give investors both insurance and investment under a single integrated plan.
SUD Life Dhan Suraksha Plus is a double benefit Unit Linked Life Insurance Plan, which provides financial security to your family in case of your unfortunate demise along with a flexibility to grow your money through investment in a choice of four funds.
SUD Life Wealth Builder Plan is a Unit Linked Life Insurance Plan, which gives you an opportunity to grow your one-time investment and also protects your family against uncertainties.
SUD Life Elite Assure Plus is a Limited Premium Non-Linked Non-Participating Endowment Life Insurance Plan that offers protection for your family in case of unfortunate death and offers you additional protection by way of the inbuilt accidental death benefit. The plan also helps you build up your savings and provides assured monthly payouts.
Child plan enables you to plan the future of your child and assures financial assistance at the crucial stages of her life, even if you are not there.
SUD Life Bright Child is specifically tailored to meet these needs with its distinct pay-out structure, crafted to meet the funding needs related to your child's career and wedding.
SUD Life AASHIRWAAD is a Non-Linked Non-Participating Endowment Plan which ensures that even in your absence, all the planned benefits remain intact and your child’s dreams are never compromised.
A pension is a fund into which a sum of money is added during an employee's employment years, and from which payments are drawn to support the person's retirement from work in the form of periodic payments.
SUD Life Immediate Annuity Plus is a Non-Linked, Non-Participating Individual Immediate Annuity plan, which assures a regular stream of income as per the plan option is chosen.
A plan that helps you meet planned as well as unplanned financial needs by providing a lump sum at retirement.
This life insurance endowment plan allows you to choose a guaranteed tax-free supplementary income for future while ensuring a strong financial protection for your family in case of uncertainties.
Health insurance is insurance that covers the whole or a part of the risk of a person incurring medical expenses, spreading the risk over a large number of persons.
A plan that prepares you for life’s surprises by covering over 40 critical illnesses. Provides flexibility to use benefit amount to balance the loss of income and/ or meet other financial & health liabilities.
A group health insurance plan is an insurance plan that provides healthcare coverage to a select group of people. Group health insurance plans are one of the major benefits offered by many employers.
This is a Limited Premium Group Credit Life Insurance Plan which provides insurance cover on the outstanding loan amount for home and mortgage loan customers.
SUD Life's Loan Suraksha Plan, an affordable term insurance plan, to insure you against the uncertainties and ensure that your family doesn’t have to bear the burden of outstanding loan in case of your unfortunate demise.
Presenting SUD Life Shiksha Suraksha 2 Plan specially designed for the education loan borrowers which enable you to acquire higher education, without worrying about passing on the loan liability to your family members.
SUD Life Group Term Insurance Scheme in lieu of EDLI is a term plan, which provides life insurance cover to all the employees who are covered under the Employees Provident Fund.
SUD Life Group Term Insurance Plus is an annually renewable group term assurance plan that helps you to provide life cover to your group members in a cost-effective way and secure their peace of mind.
SUD Life Pradhan Mantri Jeevan Jyoti Bima Yojana is a one-year renewable group term insurance scheme that provides life cover at low cost to the members of savings bank account.
SUD Life Group Retirement Benefit Plan for all Employer-Employee groups to effectively manage your employee’s gratuity and/or leave encashment.
Claim is basically the fruit of your investment that you will get later. It is the most important stage of life and for some people, it is complicated as well. You will be always looking for an easier claim filing process that will offer claim amount without delay. It is advisable for you to understand that when you purchase a life insurance plan, you must look for its inclusion and exclusions to get best results. This will help you in clearing confusion as well. This insurance company offers a simple claim filing process and will be there to help you where you need it.
When you are planning to file a claim you must ensure that you have the right documents alongside to avoid any misunderstanding. The claim filing process of this company is very easy and the company carries a good claim ratio so you can trust it for your financial needs.
Last updated on 25-08-2020