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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

1 Details
1.1 Insurance Provider
Star Union Dai-ichi Life Insurance
Reliance Life Insurance
1.2 Claim Settlement Ratio
1.2.1 Settlement Ratio (2015-16)
91.54%
Rank: 3 (Overall)
73.63%
Rank: 14 (Overall)
1.2.2 Settlement Ratio
LIC Bhagya Laks..
94.00%
Rank: 4 (Overall)
84.00%
Rank: 11 (Overall)
Edelweiss Tokio My Life Plus
1.2.3 Settlement Ratio (2013-14)
LIC New Jeevan ..
92.83 %
Rank: 5 (Overall)
81.97 %
Rank: 19 (Overall)
DHFL Pramerica Family Income
1.3 Type
Group Life Insurance Plan
Group Life Insurance Plan
1.4 Status
In-force
In-force
1.5 Online
10% Group Life Insurance Plans Life insurance plans have it !
10% Group Life Insurance Plans Life insurance plans have it !
1.6 Eligibility
1.6.1 Min Entry Age
AEGON Religare ..
18 years
Rank: 17 (Overall)
14 years
Rank: 13 (Overall)
Bajaj Allianz Cash Assure
ADD ⊕
1.6.2 Max Entry Age
ICICI Pru Immed..
79 years
Rank: 7 (Overall)
60 years
Rank: 18 (Overall)
Reliance Classic Plan 2
ADD ⊕
1.6.3 Min Vesting Age
Canara HSBC Sma..
Not Available
Rank: N/A (Overall)
24 years
Rank: 13 (Overall)
Shriram Secure Investment Plan
ADD ⊕
1.6.4 Max Vesting Age
Bharti AXA Life..
80 years
Rank: 7 (Overall)
70 years
Rank: 16 (Overall)
LIC New Children Money Back Plan
ADD ⊕
1.7 Policy Term
1.7.1 Min Term
Edelweiss Tokio..
1 years
Rank: 1 (Overall)
10 years
Rank: 8 (Overall)
HDFC Life New Group Unit Linked Plan
ADD ⊕
1.7.2 Max Term
TATA AIA Fortun..
1 years
Rank: 38 (Overall)
10 years
Rank: 33 (Overall)
HDFC Life New Group Unit Linked Plan
ADD ⊕
1.8 Returns
1.8.1 Min Sum Assured
Aviva Life Shie..
₹ 5000
Rank: 3 (Overall)
Not Available
Rank: N/A (Overall)
ICICI Pru Immediate Annuity Plan
1.8.2 Min Sum Assured (Variable)
Not Applicable
10 to 25 times of the Annualised Premium subject to minimum of Rs 10,000 per member
1.8.3 Max Sum Assured
IDBI Federal Lo..
₹ 500000000
Rank: 2 (Overall)
Not Available
Rank: N/A (Overall)
Kotak Gratuity Plus Group Plan
1.8.4 Max Sum Assured (Variable)
Not Applicable
Not Mentioned
1.9 Group Plan
99% Group Life Insurance Plans Life insurance plans have it !
99% Group Life Insurance Plans Life insurance plans have it !
1.9.1 Group Type
Employer-Employee, Non Employer-Employee
Non Employer-Employee
1.9.2 NEE Size
Metlife Group T..
50
Rank: 1 (Overall)
Not Available
Rank: N/A (Overall)
Reliance Traditional Group Employee Benefit Plan
1.9.3 EE Size
Metlife Complet..
10
Rank: 6 (Overall)
5000
Rank: 2 (Overall)
HDFC Group Term Insurance
2 Premium
2.1 Minimum Premium
2.1.1 Min Premium
Kotak Preferred..
Not Available
Rank: N/A (Overall)
₹ 1000
Rank: 8 (Overall)
HDFC Life Group Credit Protect Insurance Plan
2.1.2 Min Premium (Variable)
Not Mentioned
Not Applicable
2.2 Maximum Premium
2.2.1 Max Premium
Metlife Traditi..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana
2.2.2 Max Premium (Variable)
Not Mentioned
No Limit
2.3 Payment Options
Regular Pay
Regular Pay
2.4 Regular Modes
Annual, Monthly, Quarterly, Semi-Annual
Annual, Monthly, Quarterly, Semi-Annual
2.5 Top Up
Not Allowed
Not Allowed
2.5.1 Top Up Value
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Pension Plus
3 Loan And Benefits
3.1 Loan
5% Group Life Insurance Plans Life insurance plans have it !
5% Group Life Insurance Plans Life insurance plans have it !
3.2 Surrender
66% Group Life Insurance Plans Life insurance plans have it !
66% Group Life Insurance Plans Life insurance plans have it !
3.2.1 Surrender Value
Not Applicable
The Surrender Value under the contract will be the Policy Account Value less Discontinuance Charge, if any.
3.3 Benefits
3.3.1 Tax
94% Group Life Insurance Plans Life insurance plans have it !
94% Group Life Insurance Plans Life insurance plans have it !
3.3.2 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
3.3.3 Service Tax
Not Applicable
Applicable
3.3.4 Maturity
11% Group Life Insurance Plans Life insurance plans have it !
11% Group Life Insurance Plans Life insurance plans have it !
3.3.5 Maturity Benefit Amount
Not Applicable
All invested premiums along with the investment income shall be paid.
3.3.6 Death
91% Group Life Insurance Plans Life insurance plans have it !
91% Group Life Insurance Plans Life insurance plans have it !
3.3.7 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.
3.3.8 Annuity
12% Group Life Insurance Plans Life insurance plans have it !
12% Group Life Insurance Plans Life insurance plans have it !
3.4 Bonus
Not Applicable
Not Available
4 Provisions
4.1 Renewal
76% Group Life Insurance Plans Life insurance plans have it !
76% Group Life Insurance Plans Life insurance plans have it !
4.1.1 Renewal Period
Bajaj Allianz R..
0 years
Rank: 5 (Overall)
2 years
Rank: 3 (Overall)
HDFC Life Group Unit Linked Pension Plan
4.2 Riders
4.2.1 Accidental Death
25% Group Life Insurance Plans Life insurance plans have it !
25% Group Life Insurance Plans Life insurance plans have it !
4.2.2 ADBR Description
Not Applicable
Annual charge for Accidental Death Benefit up to attained age 65 last birthday is R 1 per 1000 Sum Assured th and will be deducted on monthly basis at the beginning of each policy month using 1/12 of the charge.
4.2.3 Critical Illness
17% Group Life Insurance Plans Life insurance plans have it !
17% Group Life Insurance Plans Life insurance plans have it !
4.2.4 CI Description
Not Applicable
Not Applicable
4.2.5 Term Rider
No Group Life Insurance Plans Life insurance plans has it !
No Group Life Insurance Plans Life insurance plans has it !
4.2.6 TR Description
Not Applicable
Not Applicable
4.2.7 Permanent Disability
20% Group Life Insurance Plans Life insurance plans have it !
20% Group Life Insurance Plans Life insurance plans have it !
4.2.8 PD Description
Not Applicable
Not Applicable
5 Terms and Conditions
5.1 Grace Period
LIC Jeevan Raks..
30 Days
Rank: 1 (Overall)
30 Days
Rank: 1 (Overall)
HDFC Group Term Insurance
ADD ⊕
5.2 Free Look Period
Mera Term Plan
15 Days
Rank: 2 (Overall)
15 Days
Rank: 2 (Overall)
Reliance Online Term
ADD ⊕
5.3 Exclusion On Base Policy
Suicide Clause
Suicide Clause
5.4 Charges
5.4.1 Premium Allocation
27% Group Life Insurance Plans Life insurance plans have it !
27% Group Life Insurance Plans Life insurance plans have it !
5.4.2 Premium Allocation Charge
Not Available
For 1st year: 12% of annual premium. For 2-5 years, 7.5% of annual premium. For 6 or more years, 5.5% of annual premium.
5.4.3 Policy Administration
14% Group Life Insurance Plans Life insurance plans have it !
14% Group Life Insurance Plans Life insurance plans have it !
5.4.4 Policy Administration Charge
Not Available
2.5% per annum of the Annualised Premium subject to R 6,000 per member-contract year.
5.4.5 Fund Management
27% Group Life Insurance Plans Life insurance plans have it !
27% Group Life Insurance Plans Life insurance plans have it !
5.4.6 Fund Management Charge
Not Available
This charge will be deducted from the Policy Account Value of each member of the group scheme at the rate of 1.35% p.a.
5.4.7 Mortality
26% Group Life Insurance Plans Life insurance plans have it !
26% Group Life Insurance Plans Life insurance plans have it !
5.4.8 Mortality Charge
Not Available
Mortality charges will be deducted monthly based on the applicable mortality rate, and the difference between death benefit and Policy Account Value at the time of deduction of charges.
5.4.9 Switching
Not Allowed
Not Allowed
5.4.10 Switching Charge
Reliance Group ..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
SBI Life Kalyan ULIP Plus
5.4.11 Partial Withdrawal
Not Allowed
Not Allowed
5.4.12 Partial Withdrawal Charge
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Aviva Live Smart Plan
5.4.13 Premium Redirection
Not Allowed
Not Allowed
5.4.14 Premium Redirection Charge
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
SBI Life Kalyan ULIP Plus
5.5 Group Members
5.5.1 Addition
Allowed
Allowed
5.5.2 Deletion
Allowed
Allowed
5.6 Medical Examination
43% Group Life Insurance Plans Life insurance plans have it !
43% Group Life Insurance Plans Life insurance plans have it !

Compare Star Union D I Group Term and Sarv Samriddhi

Compare Star Union D I Group Term and Sarv Samriddhi on basis of policy details, premium details, eligibility etc. Star Union D I Group Term is provided by Star Union Dai-ichi Life Insurance. Sarv Samriddhi is provided by Reliance Life Insurance. Both these policies come under Group Life Insurance Plans. Online buying option is not available for first insurance policy and online buying option is not available for second policy.

Minimum entry age for Star Union Dai ichi Group Term Insurance Plus is 18 years and maximum entry age for the same policy is 79 years. Similarly for Reliance Group Sarv Samriddhi, minimum entry age is 14 years and maximum entry age is 60 years. Depending upon the selected plan, the premium amount and payment options may be different. Premium is the amount you pay to the insurance company in exchange of life cover. Premium payment option/s for former policy: Regular Pay and premium payment option/s for latter policy: Regular Pay. In regular pay mode, you are supposed to pay this money at fixed intervals throughout the policy term whereas for limited pay mode, you are supposed to pay money only for a limited number of years.

Benefits of Star Union D I Group Term and Sarv Samriddhi

Benefits of Star Union D I Group Term and Sarv Samriddhi consist of maturity benefit, tax benefit, death benefit etc. Some Star Union Dai ichi Group Term Insurance Plus and Reliance Group Sarv Samriddhi Provisions are made for a policy holder. Loan is one such provision. For first plan, a person cannot apply for loan and second plan does not provide loan facility. Following are the benefits under these insurance policies.

For Star Union Dai ichi Group Term Insurance Plus:

  • Tax benefit: Available.
  • Maturity benefit: Not Available.
  • Death benefit: Available.

For Star Union Dai ichi Group Term Insurance Plus:

  • Tax benefit: Available.
  • Maturity benefit: Available.
  • Death benefit: Available.

If the policy has tax benefit, it means that the premium you pay for the policy is eligible for deduction in tax returns along with a part of money you receive on maturity of the policy. If the policy has death benefit, in event of death of the policy holder, all the money paid as premium shall be returned to his family. Even bonus is added to this money for some policies. Thus his family can stay financially secure. Maturity benefit is the money you get at the end of the policy term. This is the total of all the premiums you have paid along with applicable bonus.

Provisions under Star Union D I Group Term and Sarv Samriddhi

Provisions under Star Union D I Group Term and Sarv Samriddhi mainly include policy renewal and different types of riders. For Star Union Dai ichi Group Term Insurance Plus, policy renewal is allowed Policy renewal is allowed for Reliance Group Sarv Samriddhi. Different riders such as accidental death benefit rider, critical illness rider etc. are provided for an insurance policy. Riders are special clauses in an insurance policy that cover cases when you won't be able to pay premium. Accidental death benefit rider is not available for first policy and it is available for second policy.Critical illness rider is not available for former policy and it is not available for second policy.Term rider is not available for first insurance policy and this rider is not available for second policy.

Terms and Conditions For Star Union D I Group Term and Sarv Samriddhi

Terms and conditions for Star Union D I Group Term and Sarv Samriddhi includes the grace period, free look period, exclusions, riders etc. for both the policies. Grace period can be utilized for paying unpaid premiums. Grace period for these insurance plans is 30 Days. Free look period for these insurance plans is 15 Days.

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