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Star Union Dai ichi Group Term Insurance Plus
Star Union Dai ichi Group Term Insurance Plus

Reliance Group Sarv Samriddhi
Reliance Group Sarv Samriddhi



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Star Union Dai ichi Group Term Insurance Plus
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Reliance Group Sarv Samriddhi

Star Union D I Group Term and Sarv Samriddhi Benefits

1 Loan And Benefits
1.1 Loan
5% Group Life Insurance Plans Life insurance plans have it !
5% Group Life Insurance Plans Life insurance plans have it !
1.2 Surrender
66% Group Life Insurance Plans Life insurance plans have it !
66% Group Life Insurance Plans Life insurance plans have it !
1.2.1 Surrender Value
Not Applicable
The Surrender Value under the contract will be the Policy Account Value less Discontinuance Charge, if any.
1.3 Benefits
1.3.1 Tax
94% Group Life Insurance Plans Life insurance plans have it !
94% Group Life Insurance Plans Life insurance plans have it !
1.3.2 Tax Benefit Amount
Applicable as per tax laws
The premiums paid by the member and benefits under this plan are eligible for Income tax exemption as per the prevailing Income tax laws
1.3.3 Service Tax
Not Applicable
Applicable
1.3.4 Maturity
11% Group Life Insurance Plans Life insurance plans have it !
11% Group Life Insurance Plans Life insurance plans have it !
1.3.5 Maturity Benefit Amount
Not Applicable
All invested premiums along with the investment income shall be paid.
1.3.6 Death
91% Group Life Insurance Plans Life insurance plans have it !
91% Group Life Insurance Plans Life insurance plans have it !
1.3.7 Death Benefit Amount
Sum assured shall be paid
Policy Account Value, or Basic Sum Assured, or 105% of all the premiums paid till the time of death, excluding any extra premiums (if any) of the individual member shall be paid.
1.3.8 Annuity
12% Group Life Insurance Plans Life insurance plans have it !
12% Group Life Insurance Plans Life insurance plans have it !
1.4 Bonus
Not Applicable
Not Available

Availability of Loan

One can compare benefits of both policies based on aspects like availability of loan, surrender value, tax benefits, death benefits, etc. for Star Union Dai ichi Group Term Insurance Plus and Reliance Group Sarv Samriddhi. For an insurance policy, loan option may or may not be provided. For first policy, a person cannot apply for loan and second policy does not provide loan facility.Loan is a facility that is provided by the insurance companies so that in case of emergencies, you can borrow money against your life insurance policy. If loan is provided by an insurance company, its value is usually deducted from your fund value i.e. the amounts of premiums that you've paid up to the time of money borrow. Also some companies specify the period of time when the loan has to repaid.

Benefits Under Star Union D I Group Term and Sarv Samriddhi

Benefits Under Star Union D I Group Term and Sarv Samriddhi can an important point of comparison between the two plans.

For Star Union Dai ichi Group Term Insurance Plus:

  • Tax Benefit: Available
  • Maturity Benefit: Not Available
  • Death Benefit: Available
  • Annuity Benefit: Not Available

For Reliance Group Sarv Samriddhi:

  • Tax Benefit: Available
  • Maturity Benefit: Available
  • Death Benefit: Available
  • Annuity Benefit: Not Available

Tax benefit implies that a part of one's fund value and the premium that one pays against his insurance plan are eligible for deduction on tax returns. Maturity benefit can be availed at the end of the policy term of your plan. It is paid along with the sum assured. Death benefit is an amount of money paid to the family of the life insured in event of his demise before the end of the policy term. Annuity benefit offers you an opportunity to convert your funds at end of policy term to annuity. Annuity is a type of plan where you pay a lump sum amount at once and reap its benefits after your retirement.

Surrender Value of Star Union D I Group Term and Sarv Samriddhi

Surrender value of Star Union D I Group Term and Sarv Samriddhi is the amount of money that will be provided by the insurance company in case you want to surrender the policy before maturity. Surrender may not be allowed for all types of insurance policies. Star Union Dai ichi Group Term Insurance Plus does not allow policy surrender before end of term. Reliance Group Sarv Samriddhi allows surrender of policy.

Bonuses Available for These Plans

Bonuses available for these plans include terminal bonus, reversionary bonus, interim bonus etc. Bonus is an important part of Star Union D I Group Term and Sarv Samriddhi benefits. Terminal bonus is provided by the insurance company to reflect the overall performance of your chosen policy. Reversionary bonus is an amount of money added to your returns on maturity. Terminal bonus is usually announced twice a year. If your policy matures at a date between these two bonus days, you may get an interim bonus.

  • Bonus provided under Star Union Dai ichi Group Term Insurance Plus: Not Applicable
  • Bonus provided under Reliance Group Sarv Samriddhi: No bonus is provided.

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