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Insurance Company
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Star Union Dai-Ichi Life Insurance Co Ltd
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Plan Name
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Star Union Life Defined Benefit Endowment Plan
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Plan Nature
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TRADITIONAL
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Plan Category
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Superannuation Plan
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UIN No.
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142N023V01
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About Plan
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As loving parents, dutiful spouses and resonsible breadwinners, we all strive hard to ensure that every dream of our loved ones is fulfilled - a good lifestyle, a nice house, a car, our children's education, then their marriages... life goes on. But we rarely pause and think of our own selves-our later years when our children leave us to build their own careers and lives. It is time we planned for those days so that we can still have a regular stream of income-come whaty may - an income that will not only support you andyour spouse but also afford a trip to your children's place and a gift for your grand children and such invaluable things in life.
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Minimum Entry Age
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18 years
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Maximum Entry Age
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60 years
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Maximum Policy Term
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20 years
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Minimum Premium
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For Regular Premium Rs.1000 per monthFor Single Premium Rs.2000 per month
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Maximum Premium
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No Limit (in multiples of Rs.500)
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Maximum Sum Assured
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180 times the Defined Monthly Benefit
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Benefits
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| Particulars | Description |
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Surrender Benefit
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The policy can be surrendered at any time after the third policy anniversary and before the end of the policy term i.e. before the commencement of the Defined Benefit Payment Period.
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Surrender Benefit
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Cash Surrender Value:Cash surrender value is higher of the guaranteed surrender value and the special surrender value as defined below.
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Surrender Benefit
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Guaranteed Surrender Value:Minimum guaranteed surrender value is available under the policy after the third policy anniversary provided the premiums (for Regular premium option) have been paid for at least three years and provided the single premium (in full) has been paid.
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Surrender Benefit
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For the regular premium option, the minimum Guaranteed Surrender Value payable is 30% of the total amount of the premiums paid under the policy excluding the premiums paid for thefirst policy year and all the extra premiums paid. For th single premium option, the minimum Guaranteed Surrender Value payable is 90% of the single premium paid under the policy excluding all the extra premiums paid.
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Surrender Benefit
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Special Surrender Value:Special surrender value is available under the policy, after the third policy anniversary for single premium and for regular premium provided the premiums have been paid for at least three years.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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In the event of the unfortunate demise of the Life Assured during the policy term.
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On unfortunate demise during the Defined Benefit Payment Period
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On survival till the end of the policy term
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01-Jun-09
21:14
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Benefit through bancassurance
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01-Jun-09
09:41
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Target of Rs 600 cr during this FY : Star Union Dai-ichi Life
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25-Apr-09
18:40
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Star Union Dai-ichi Life plans to infuse Rs 850 cr in next 5 years
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21-Apr-09
12:01
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Capital infusion of Rs 850 cr in next five years : Star Union Dai-ichi Life
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13-Mar-09
10:26
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Star Union Dai-Ichi Life Insurance is planning to infuse Rs 100 crore
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07-Mar-09
11:26
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Recruiting 2,000 agents in FY 2009-10 : Star Union Dai-ichi Life
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19-Feb-09
10:50
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Plan for pension and child products : Star Union Dai-Ichi Life
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29-Jan-09
16:51
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Insurers to inform consumer on bouncing of cheque
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03-Jan-09
10:50
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Star Union Dai-ichi Life to focus on bancassurance
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25-Aug-08
09:35
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Star Union Dai-ichi insurance venture in two months time
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