Star Union Dai-ichi Life Insurance has introduced its latest participating endowment insurance plan, Suraksha Kavach, with an aim to strengthen and extend their existing portfolio. The policy offers an innovative feature that allows you to continue life cover up to three years from the date of first unpaid premium, should you ever need to take a break from premium payment.
Alongside this, Star Union Dai-ichi has also launched its latest customer service initiatives; a superior online platform ‘E-life’ which allows customers to directly connect with the company for managing their insurance policy online and SMS support service for customers.
Speaking on the launch of Suraksha Kavach, Kamalji Sahay, MD & CEO, Star Union Dai-ichi Life Insurance Company Ltd. said, “At Star Union Dai-ichi, we constantly explore ways to provide solutions to a wide array of its customers.
Over the years, we have developed a series of strong endowment insurance products, and with the launch of Suraksha Kavach, we will further enhance our portfolio to meet the ever changing needs of the customers.â€
The policy can be purchased by an individual between the ages of 18 – 50 years; while the maximum maturity age limit stands at 65 years. As this is a participating plan, a simple reversionary bonus (if any) will be declared at the end of each financial year; which will be paid to the policyholder at the time of maturity or in case of unfortunate death, during the policy term.
Suraksha Kavach provides policyholders with the unique benefit of continued cover. Under this benefit, the policyholder may take a break from premium payment anytime after paying at least two full years’ premiums. The life insurance cover will continue for three more years.
Additionally, one has the option to enhance their policy benefits by adding the SUD Life Critical Illness Benefit Rider to their base policy by paying additional rider premiums. The premium paid under this plan is eligible for tax benefits as per pertaining laws.
Star Union Dai-ichi also launched ‘E-life’, the online customer portal that allows one to access information on their policy. Some of the key features of this platform include:
- Online fund switching
- Premium redirection
- Online renewal premium payment
- Change of nominee/address details
- Top up payment
- Change the mode of billing
Additionally, the Company has also improved their technological services to commence a SMS support service where customers can access information and provide feedback on their experience. Mr. Sahay added, “Our aim is to provide world class customer service facilities and the introduction of E-life and our SMS support service strengthen this commitment.â€
