Star Union Dai-ichi Life Insurance Benefits

Star Union Dai-ichi Life Insurance is a joint-venture between Dai-ichi Life Holdings, a Japanese insurance company, and two premier nationalised banks in India, Bank of India, and Union Bank of India. This combined entity is one of the latest entrants into the insurance sector in India. However, it has a tremendous reach, as is evident from the 64 million-plus customers in its fold. Star Union Dai-ichi Life Insurance offers an excellent range of insurance products to suit the individual needs of its clients. The policies include protection plans, savings plans, child plans, retirement plans, wealth plans, and group plans.

Star Union Dai-ichi Life Insurance Benefits

Star Union Dai-ichi Life Insurance offers a range of benefits to its customers, some of which are as follows.

1. Range of Products to Suit Every Customer Demand: Star Union Dai-ichi Life Insurance has a presence in almost every state in India because its partnering institutions have one of the largest banking networks across the country. The customer’s demands keep changing, depending on their geographical presence. Star Union Dai-ichi Life Insurance has specific tailor-made products to cater to this diverse clientele.

2. Excellent Claim Settlement Ratio: Generally, the true worth of the insurance company depends on the way it handles the insurance claims. Star Union Dai-ichi Life Insurance is amongst the most popular insurance companies in India because of its excellent claim settlement ratio of 96.96% in 2019-20.

3. Customer-Friendly Policy Servicing Process: Star Union Dai-ichi Life Insurance protects the customer's interest at every stage of the policy servicing. The customer gets a free-look period extending up to 15 days from the receipt of the policy. The customer can return the policy and claim a refund of the premium paid during this period. The customer services extend right up to the claims procedure, one of the most user-friendly processes in the insurance industry.

4. Complete Transparency: Star Union Dai-ichi Life Insurance offers extreme clarity in its services to its customers. The customer has the facility to apply for the life insurance policy and pay the premiums online. The renewal procedure is hassle-free with the company informing the customer much in advance to get the policy renewed on time.

5. Flexible Payment Options: Star Union Dai-ichi Life Insurance offers a range of flexible payment options where policyholders can opt to pay online, as well. One can opt for single lump-sum payments or in monthly instalments, depending on their preferences.