• Star Union Dai-Ichi Life Jeevan Ashray 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 Jeevan Ashray Plan is a non-linked, non-participating endowment assurance plan. It is of utmost importance the every individual understands the value of savings. If someone starts saving in small amounts today, it can help him/her to achieving life goals easily in the long run. If uncertainties come, these savings can help the person to steer away from financial issues. The Star Union Dai-Ichi Life Jeevan Ashray Plan saves the policyholder’s hard earned money on a regular basis so that he/she can enjoy peace of mind along with secured financial future for himself/herself and his/her family. The plan targets at offering comprehensive financial protection to the family of the insured and also helps the policyholder to grow his/her funds.

    Eligibility – Who is the Star Union Dai-Ichi Life Jeevan Ashray Plan for?

    In order to buy the Star Union Dai-Ichi Life Jeevan Ashray Plan, a customer has to fulfil certain eligibility criteria with respect to his/her age and the amount of insurance he/she seeks. These conditions are as shown below:

    Parameters Criteria for Eligibility
    Minimum age at entry 8 years
    Maximum age at entry (Regular Pay) 40 years
    Maximum age at entry (15 years Limited Pay and 10 years Limited Pay) 50 years
    Term of the policy
    • Regular Pay
    • 10 Years Limited Pay (Fixed Policy Term of 20 years and 15 years)
    • 15 Years Limited Pay (Fixed Policy Term for 20 years)

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

    Sum Assured – Sum assured is the amount that the policyholder gets when the Star Union Dai-Ichi Life Jeevan Ashray Plan attains maturity. In case the policyholder encounters demise while the Star Union Dai-Ichi Life Jeevan Ashray Plan is still active, the sum assured is received by the legal heir or beneficiary of the insured person. The minimum sum assured in case of the Star Union Dai-Ichi Life Jeevan Ashray Plan is Rs.200,000. The maximum sum assured under the Star Union Dai-Ichi Life Jeevan Ashray Plan is Rs.50 lakh. The basic sum assured must always be in the multiples of 1000.

    Minimum sum assured Rs.200,000
    Maximum sum assured Rs.50 lakh

    Premiums – Premium is the amount that the policyholder pays in order to keep his/her Star Union Dai-Ichi Life Jeevan Ashray Plan active and running. The premium payment modes available under this insurance plan are monthly, quarterly, semi-annual and annual.

    Premium payment modes Monthly (only through SI/ECS), quarterly, semi-annual and annual
    Premium payment term
    • 15 years Limited Pay – the policyholder pays premiums for a fixed period of 15 years.
    • 10 years Limited Pay – the policyholder pays premiums for a fixed period of 10 years.
    • Regular Pay – the policyholder pays premiums throughout the term of the policy.

    Disclaimer – Premiums may vary depending upon factors like term of the plan, location, age, etc.

    Plan coverage – What the Star Union Dai-Ichi Life Jeevan Ashray Plan covers

    Maturity Benefit In case the policyholder survives till the maturity date of the Star Union Dai-Ichi Life Jeevan Ashray Plan and all the premiums towards the plan are paid, the insured will get the Guaranteed Maturity Benefit. The benefit available is mentioned below:
    • Policy Term of 20 years – 120% of the basic sum assured.
    • Policy Term of 15 years – 115% of the basic sum assured.
    Death Benefit In case the insured individual encounters death and the policy is active, the beneficiary or nominee of the assured receives the death benefit. This particular benefit is the highest of:
    • Guaranteed Maturity Benefit, or
    • 105% of the premiums paid except extra premium (if any) and service tax, or
    • 10 times of annualized premium, or
    • Absolute assured amount that is paid upon demise of the policyholder
    Surrender Benefit If the policy is surrendered by the policyholder, higher of the special surrender value or guaranteed surrender value is paid out. After this benefit is received by the policyholder, the Star Union Dai-Ichi Life Jeevan Ashray Plan gets terminated.

    Exclusions – What the Star Union Dai-Ichi Life Jeevan Ashray Plan does not cover

    Suicide Exclusion – In case the policyholder commits suicide within a period of 1 year from the commencement date of the Star Union Dai-Ichi Life Jeevan Ashray Plan, whether insane or sane, the cover will get terminated and the nominee or legal heir will get 80% of the premiums, minus the taxes and the extra premiums, till the death date of the insured, considering the fact that the insurance plan is in force. In case the policyholder commits suicide within a period of 1 year from the revival date or reinstatement date of the Star Union Dai-Ichi Life Jeevan Ashray Plan, whether insane or sane, the cover will get terminated and the nominee or legal heir will get the higher of the guaranteed surrender value and special surrender value or 80% of the premiums, minus the taxes and the extra premiums, till the death date of the insured, considering the fact that the insurance plan is active.

    Other key Features

    Free Look Period A free look period of 15 days can be availed under the Star Union Dai-Ichi Life Jeevan Ashray Plan. In case, the policyholder does not like the plan, he/she can return the policy to the insurer. The insurer will refund the premiums excluding expenses like medical exam costs (if any), stamp duty charges, etc. The policyholder must provide the cancellation letter stating his/her objections about the plan. In case of policies purchased via Distance Marketing, a free look period of 30 days can be availed.
    Grace Period In case the policyholder misses a premium payment date, a grace period of 30 days can be availed. This is applicable for quarterly, half-yearly and annual modes. In case of monthly premium payment modes, the policyholder can avail a grace period of 15 days. In case the policyholder encounters death during the grace period, death benefit will be paid to the nominee after necessary deduction of the unpaid premiums.
    Policy Loan Under the Star Union Dai-Ichi Life Jeevan Ashray Plan, a policyholder can avail a loan if the plan has attained surrender value. Up to 80% of the surrender value can be availed as loan.

    Tax Benefits – How you can save under the Star Union Dai-Ichi Life Jeevan Ashray Plan

    The policyholder can avail tax benefits with the Star Union Dai-Ichi Life Jeevan Ashray Plan under the prevailing tax laws.

    Why you should buy the Star Union Dai-Ichi Life Jeevan Ashray Plan from Star Union Dai-Ichi Life Insurance Company?

    Star Union Dai-Ichi Life Jeevan Ashray Plan is one of the leading insurance solution providers in India. The insurance solutions offered by this organisation comes with a lot of innovation and flexibility. The Star Union Dai-Ichi Life Jeevan Ashray Plan saves the policyholder’s hard earned money on a regular basis so that he/she can enjoy peace of mind along with secured financial future for himself/herself and his/her family. The plan targets at offering comprehensive financial protection to the family of the insured and also helps the policyholder to grow his/her funds.

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