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  • Star Union Dai-ichI (SUD) Life Aarogyam Plan

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    The Star Union Dai-ichi Life Insurance Company is leading insurance agency that provides a plethora of insurance options to its customers. The SUD Life Aarogyam Plan offers protection to a customer who is being treated for a serious illness such as critical stage cancer, heart attack, or stroke. The ever changing lifestyle that we live in today can make us quite vulnerable and prone to these illnesses. It is a good move to protect yourself from these situations by taking out a SUD Life Aarogyam plan.

    Some of the key features of this plan are listed below:

    • Provides protection against 40 listed critical illnesses
    • An additional cover of 25% is provided for Angioplasty
    • A customer is entitled to a guaranteed amount on the diagnosis of a critical illness
    • 100% of the premiums that are paid is returned at the time of maturity in case no claim is made
    • Women are offered a lower premium
    • Premium discounts are offered on High Sum Assured

    Eligibility – Who is the SUD Life Aarogyam plan for?

    An individual will have to meet the eligibility criteria listed below to avail the SUD Life Aarogyam:

    Parameters Details
    Minimum Entry Age 18 years
    Maximum Entry Age 65 years
    Maximum Maturity Age 75 years

    Sum Assured and Premium Range* – What you get and what it costs?

    The sum assured is based entirely on the premiums that you will have to pay and on the term of the policy. You will also have to decide on the policy term of the plan. The sum assured and the premiums that need to be paid for a SUD Life Aarogyam plan are listed below:

    Parameters Details
    Minimum Sum Assured Rs.5 lakhs per policy
    Maximum Sum Assured Rs.50 lakhs
    Policy Term 10 years (fixed)
    Mode of Payment
    • Monthly
    • Quarterly
    • Half-Yearly
    • Yearly
    Premium Payment Term 10 years (fixed)

    *Premiums vary based on age, location, plan term and other factors

    How is the Premium for a SUD Life Aarogyam Plan calculated?

    Premiums that need to be paid towards a policy are dependent on the age of the applicant, location, etc. Modal Factor is also an important variable that is considered when calculating the premiums that need to be paid.

    Mode of Premium Modal Factor
    Monthly 0.0867
    Quarterly 0.2582
    Half-Yearly 0.5108
    Yearly 1

    Plan Coverage – What the SUD Life Aarogyam Plan covers?

    Parameters Details
    Cover for 40 Critical Illnesses The policyholder will be entitled to 100% of the Sum Assured when he/she is diagnosed with any of the 40 critical illnesses that are listed below. The Sum Assured is the higher among:
    • 105% of all premiums that have been paid
    • 10 times the annualized premiums
    • Maturity Benefit
    • Absolute amount that needs to be paid on the diagnosis of a critical illness
    Maturity Benefit If the Life Assured survives the term of the policy, he/she is entitled to a maturity benefit on condition that a claim has not been made. Only claims made for an Angioplasty will not fall under this rule.
    Death Benefit Death Benefit is not payable with this plan. The policy will terminate at the time of death of the policyholder.
    Free Look Period Once the policyholder receives the “Term and Conditions” of the policy, he/she has 30 days to review the documents and either accept or reject the policy. The life insured will be entitled for a refund of any premiums that are paid during this period on condition that no claims were made. The money will be refunded once the insurer deducts charges incurred for medical expenses and stamp duty charges, if any.
    Grace Period A grace period of 15 days is provided in the case of monthly premiums that are paid and 30 days for quarterly, half-yearly, and yearly modes. The grace period begins on the due date of the last unpaid premium. If a life insured makes a claim during this grace period, the insurer will pay the benefit to the policyholder after deducting the premiums that were due and that were remaining for that policy year.
    Surrender Value A policy can be surrendered if it has a Surrender Value which is acquired after paying premiums for three full years. Surrender value that has to be paid to the policyholder will be the higher among “Special Surrender Value (SSV)” and “Guaranteed Surrender Value (GSV).
    Nomination This facility is allowed as per the prevailing laws stated under Section 39 of the Insurance Act, 1938.
    Assignment This facility is provided as per the prevailing laws stated under Section 38 of the Insurance Act, 1938.
    Reduced Paid-Up If the policyholder fails to pay the premiums for the policy within the grace period, the policy will acquire a “Reduced Paid-Up” value and the cover would be reduced to the “Paid-Up Sum Assured” value. The policyholder should have paid the premiums for the first 3 years of the policy before the grace period.

    Here is a list of critical illnesses that are covered under the SUD Life Aarogyam Plan:

    • Apallic Syndrome
    • Blindness
    • Cancer of Specified Severity
    • Coma of Specified Severity
    • Open Chest CABG
    • Repair of Heart Valves or Open Heart Replacement
    • Loss of Independent Existence
    • Encephalitis
    • Major Head Trauma
    • Permanent Paralysis of Limbs
    • Surgery to Aorta
    • Benign Brain Tumour
    • Brain Surgery
    • Chronic Lung Disease
    • End Stage Liver Disease
    • First Heart Attack - of Specified Severity
    • Kidney Failure requiring Regular Dialysis
    • Loss of Limbs
    • Major Burns
    • Bone Marrow/Major Organ Transplant
    • Stroke resulting in Permanent Symptoms
    • Alzheimer's Disease
    • Cardiomyopathy
    • Loss of Speech
    • Motor Neuron Disease with Permanent Symptoms
    • Muscular Dystrophy
    • Progressive Systemic Sclerosis
    • SLE with Lupus Nephritis
    • Bacterial Meningitis
    • Chronic Recurrent Pancreatitis
    • Fulminant Viral Hepatitis
    • Aplastic Anaemia
    • Deafness
    • Medullary Cystic Kidney Disease
    • Multiple Sclerosis with Persisting Symptoms
    • Parkinson's Disease
    • Primary Pulmonary Hypertension
    • Dissolution of the nerve roots of Brachial Plexus
    • Carotid Artery Surgery
    • Ulcerative Colitis

    Riders:

    There are no riders available for this plan.

    Exclusions – What the SUD Life Aarogyam doesn’t cover?

    The policyholder will not be eligible for the benefits provided with a SUD Life Aarogyam plan for the following reasons listed below:

    • If the policyholder is diagnosed with a critical illness within the 90 days waiting period of the policy
    • If the policyholder has any pre-existing condition within 48 months before the first policy was issued
    • Civil unrest, rebellion, civil war, revolution, etc.
    • War or hostilities
    • Self-inflicted act
    • If the policyholder has participated in an armed force
    • Indulgence in illicit substances like drugs, alcohol, etc.
    • HIV/AIDS
    • If the policyholder has committed any criminal acts with criminal intent
    • Nuclear fission, nuclear fusion, nuclear waste, any other form of nuclear materials or any ionizing or radioactive radiation

    Suicide Exclusion

    If the policyholder commits suicide, any benefit that is payable by the insurer will not be issued to the nominee of the policyholder.

    Tax Benefits – How you can save with the SUD Life Aarogyam Plan?

    Tax benefits shall be applicable as per the prevailing tax laws that come under Section 80C of the Income Tax Act, 1961. Any payouts that are made by the insurer will be susceptible to be taxed as income tax.

    Why you should buy the Life Aarogyam plan from Star Union Dai-ichi Life Insurance?

    Star Union Dai-ichi Life Insurance Co. Ltd. is a joint venture between Dai-ichi Life (life insurance company from Japan), Union Bank of India, and Bank of India. Leading the list of top insurance companies that are based out of India, Union Bank and Bank of India have a large network reach of over 11,000 branches that cater to the needs and requirements of over 64 million customers. Star Union Dai-ichi Life Insurance company provides a plethora of insurance products that are affordable and can meet the needs and requirements of various levels of society and covers an individual to a great extent.