• Star Union Dai-Ichi Life Shiksha Suraksha 2 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 Shiksha Suraksha 2 Plan is a group life insurance plan which has been designed to cater to the needs and requirements of students who are looking to pursue their education without taking on any extra tension of worrying about having your family bear the liability of an educational loan. Some of the key features of this plan are:

    • A policyholder can avail special discounts of the Sum Assured is a high value
    • The policyholder’s mind is at peace after purchasing a Star Union Dai-Ichi Life Shiksha Suraksha 2 Plan as this plan offers coverage against any new or existing educational loans
    • The plan offers decreasing term insurance and at affordable premiums
    • The policyholder can avail income tax benefits

    Eligibility – Who is the Star Union Dai-Ichi Life Shiksha Suraksha 2 Plan for?

    Insurance providers usually set the eligibility criteria which need to be met in order to avail the protection accorded by the plan:

    Parameters Criteria for Eligibility
    Minimum Age of Entry 15 years
    Maximum Age of Entry 65 years
    Maximum Maturity Age 70 years

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

    Sum Assured

    The sum which is assured with a Star Union Dai-Ichi Life Shiksha Suraksha 2 Plan is based completely on the premiums that you pay to avail the benefits of the policy.

    Parameters Details
    Minimum Base Sum Assured Rs.25,000
    Maximum Base Sum Assured Rs.5 crore


    Premiums are paid to the insurer to purchase a policy from them so that the individual can come under the umbrella of benefits and coverage that this plan has to offer.

    Parameters Details
    Term of the Loan Covered 2-30 years
    Premium Payment Term Premium payment term is equal to the moratorium period
    Premium Payment Modes Single Payment (One-Time)

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

    Premiums for a Star Union Dai-Ichi Life Shiksha Suraksha 2 Plan can be made using any of the following ways:

    • Through the use of debit or credit cards
    • Payment in cash at the insurer’s branch office
    • With a cheque or demand draft
    • Using payment gateways or internet banking
    • ECS/Direct Debit/Salary Deduction Scheme

    Plan coverage – What the Star Union Dai-Ichi Life Shiksha Suraksha 2 Plan covers

    The Star Union Dai-Ichi Life Shiksha Suraksha 2 Plan offers a number of different benefits and these are listed in the table below:

    Parameters Details
    Death Benefit Death benefits is payable at the time of death of the insured. Death benefit payable is equal to the sum assured that is mentioned on the schedule for the loan.
    Tax Benefits As per prevailing tax laws of the Income Tax Department.
    Maturity Benefit There is no maturity benefit that is payable with this plan.


    There are no additional riders that are available for purchase along with the Star Union Dai-Ichi Life Shiksha Suraksha 2 Plan.

    Exclusions – What the Star Union Dai-Ichi Life Shiksha Suraksha 2 Plan doesn't cover

    If the policyholder commits suicide within a year from the date of commencement of the policy or from the date of revival, the policy will become void and the amount payable will be equal to 80% of the basic premiums that were paid until the time of death of the policyholder.

    Suicide exclusion will not be applicable for groups which are covered under the compulsory bases where the sum assured would be equal to the outstanding loan amount.

    Other Key Features

    Parameters Details
    Free Look Period In case the policyholder is not satisfied with the “Terms and Conditions” of the policy, a 15 day period is provided where the insured can return the policy back to the insurer.
    Grace Period A 30-day grace period is provided for all modes of premium payments.
    Nomination Nomination is allowed as per the existing tax laws under Section 39 of the Insurance Act, 1938.
    Assignment Assignment is allowed as per the prevailing tax laws under Section 38 of the Insurance Act, 1938.
    Surrender Value Surrender Value will be the value that is higher between Special Surrender Value and Guaranteed Surrender Value
    High Value Sum Assured
    • For Sum Assured till Rs.1,99,000 – Nil
    • Rs.2,00,000 to Rs.4,99,00 – 5%
    • Rs.5,00,000 to Rs.9,99,000 – 10%
    • Rs.10,00,000 and above – 15%

    Tax Benefits – How you can save with Star Union Dai-Ichi Life Shiksha Suraksha 2 Plan

    A policyholder can enjoy tax benefits on any premium that is paid towards Star Union Dai-Ichi Life Shiksha Suraksha 2 Plan under the prevailing tax laws under Section 80C and for withdrawals or maturity amount under 10(10D) of the Income Tax Act, 1961. Tax benefits are subject to changes without prior notice so it is important that the policyholder consults a Tax Advisor to stay informed about any changes made.

    Why you should purchase the Shiksha Suraksha 2 Plan offered by Star Union Dai-Ichi Life Insurance?

    Star Union Dai-Ichi Life Insurance Company is one of the leading insurance solution providers across the country with over 1,000 branches located around India. The solutions offered by this organisation comes with immense flexibility and innovation. The Star Union Dai-Ichi Life Shiksha Suraksha 2 Plan is an affordable insurance plan that offers great coverage to its members. This company is a joint venture between Union Bank of India, Bank of India as well as Dai-Ichi Life and boasts of a high claim-settlement ratio as well.

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