Star Union Dai-ichi Life Insurance Company Ltd is the latest entrant in the insurance business in India. Read on to know more about its profile.

Star Union Dai-ichi Life Insurance

Star Union Dai-ichi Life Insurance is a joint undertaking of Bank of India and Union Bank of India, two major public sector banks in India, and Dai-ichi Mutual Life Insurance Company, foremost Japanese company in the life insurance industry. Star Union deals with the life insurance market in India. Registered on September 25 2007, with the Registrar of Companies in Maharashtra, the company gained its license on December 26, 2008, by the Insurance Regulatory and Development Authority (IRDA).

Star Union Dai-ichi Life Insurance Company is expected to be a strong contender in the insurance sector owing to its insurance, IT, finance and investment resources. The enterprise offers various products to serve all sections of the society. It is also offers insurance to the rural as well as other weaker social sectors of the society. It operates through the Bank of India's and Union Bank's 5400 offices, spread across the length and breadth of India which enables it to have wider reach to its potential customers. This company banks upon the strong brand equity and high level of trust of the two public sector banks who also sponsor regional rural banks thereby giving more scope to tap the life-insurance business in the rural areas.

Individual Products

Investment Products

Unit Linked Life Insurance Plans (ULIP)
Unit Linked Life Insurance Plans are investment products that enable you to achieve your financial goals while, at the same time, safeguard you with the protective coverage of valuable insurance. These plans provide a strong support that enables you to reach your goals despite of the uncertainties of life. The ULIP plans at Di-ichi are:
Annuity Plans - Immediate Annuity Plan
Lack of proper financial planning can make you a dependent post-retirement. Plan your retirement now and enjoy life that follows without any undue worries. To this end, Dai-ichi offers the Immediate Annuity Plan.

Traditional Life Insurance Plans
The volatile and unpredictable nature of the financial market in the country has made investment a matter of confusion. In such cases, one tends to opt for the traditional plans which are market-proof. Traditional plans at Dai-ichi are:
Riders
Over and above the aforementioned policies, Dai-ichi also offers additional riders so that you can customize the plans to suit you better.
Group Products

Credit Cover
Credit cover plans provide cover for the repayment of your loan or other liabilities without liquidating your assets and disturbing family income. These plans cover the outstanding amount of loan/liability of the policy holders at affordable prices. Dai-ichi offers:
Term Insurance - Bachat Kavach
Term insurances are group insurance plans which provide total insurance coverage for the members of a group at affordable prices. These plans cover a group of considerable size without other routine procedures like medical check-ups.

Other Group Products
The various other group products offered by Star Union Dai-ichi are as:
Riders
Group rider plans provide additional insurance coverage for unfortunate events like critical illness, accident etc. These plans, available at minimal prices, are provided so that the group can alter the main policy to suit their needs more specifically.
Contact Address
Star Union Dai-ichi Life Insurance Company Limited,
11th Floor, Raghuleela Arcade,
IT park, Sector 30 A,
Opp. Vashi Railway Station, Vashi,
Navi Mumbai - 400 703
Phone - 022-39546200
Website: www.sudlife.in