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A highly flexible term plan that can be aligned to your life stage and life insurance needs by offering different options for not only coverage, but also for premium payment and benefit payouts.
About iSelect Star Term Plan
An Individual Non-Linked Non-Par Pure Risk Premium Life Insurance Term Plan
KEY FEATURES
Life insurance cover at affordable price
Choose from various options of coverage, premium payment and benefit payouts aligning the plan to your needs
Option to cover for a limited period or for your entire lifetime
Option to augment cover through additional inbuilt coverages like Accidental Death Benefit, Child Support Benefit, Accidental Total and Permanent Disability Benefit
Option of adding Spouse in same policy with a discount on the rates for the Spouse
Multiple premium payment options including single bullet payment for entire term or payment for a limited duration of 5/10/15/20/25 years or pay only during your working years i.e. till you turn 60 years besides payment throughout the Policy Term
Multiple options to receive benefits as lump-sum, monthly income or part lump-sum part monthly income with the option to choose both level / increasing income
Increase your life cover with changing life stages and protection needs in the same plan by augmenting cover at key life milestones
Discount on premiums for higher Sums Assured and for female lives
Loyalty discount[B] for the existing customers of the Company
[B]Benefits
Plan Option Life
Under this Plan Option, in case of death or on diagnosis of Terminal Illness, whichever happens earlier, the Sum Assured on Death is payable. Policy terminates upon payment of the benefit. Both the Life Assured and the Spouse can be covered for the term of the contract, subject to terms and conditions of the policy.
Plan Option Life with Return of Premium
Under this Plan Option, on occurrence of death or on diagnosis of Terminal Illness, whichever happens earlier, during the Policy Term, Sum Assured on Death is payable. If you outlive the Policy Term, we will return the Total Premiums Paid by you at maturity. Policy terminates upon payment of these benefits.
Plan Option Life Plus
Under this Plan Option, we will pay Sum Assured on Death on occurrence of death or on diagnosis of Terminal Illness, whichever happens earlier. Policy terminates upon payment of the benefit. In case of survival till maturity, the Total Premiums Paid will be refunded to you on the date of maturity. Further, policy will continue post maturity till you attain 99 years of age which is the Extended Cover Period. During this period, Sum Assured will be paid on occurrence of death or on diagnosis of Terminal Illness, whichever happens earlier. On attaining age 99 years, the Sum Assured will be paid to you. Policy terminates upon payment of these benefits.
How It Works
A. Customize your plan to suit your insurance requirements
[Life]
Select one of the Coverage Options as per your Life Insurance needs
Level
Increasing
Select any of the Optional In-built Covers as per your Life Insurance needs
Accidental Death Benefit (ADB)
Accidental Total & Permanent Disability Benefit (ATPD) - Premium Protection
Accidental Total & Permanent Disability Benefit (ATPD) - Premium Protection Plus
Child Support Benefit
These options are not available with Whole Life Coverage under Plan Option Life
Option to cover Spouse, if needed
Select any one of the Benefit Payout Options at the time of point of sale
Lumpsum
Monthly Income
Part Lumpsum & Part Monthly Income
For Part Lumpsum and Part Monthly Income, choose the proportion 25% / 75%, 50% / 50% and 75% / 25%.
Within Monthly Income, choose level / increasing (@ 5% p.a. or @ 10% p.a.) Monthly Income and choose to receive it in equal monthly installments over 120 months or till the end of the Policy Term or 40 years, whichever is earlier.
Only Lumpsum option is available under Whole Life Coverage under Life Plan Option
B. Once you have tailored the plan based on your need,
Choose your Sum Assured, Policy Term, Premium Payment Term and Premium Payment Mode
Reply few easy questions about you like age, gender, health status, lifestyle habits, tobacco/alcohol consumptions details and occupational details
Generate your premium quote and share remaining relevant personal information regarding occupation, lifestyle and health; and details of your nominee, if applicable
Read through the Policy Terms and Conditions and proceed to pay your premium online if you agree with them
Product Parameters
Policy Term/ Premium Payment Term
*Policy Term of 5 years to 9 years is available only for Age at entry of 35 years and above. Similarly 5 years PPT with Policy Terms up to 9 years is only available for ages at entry of 35 years and above.
#This Option is not available if you have opted for Spouse coverage.
@The minimum PPT under this Option will be 5 years and 10 years for Plan Option Life and other Plan Options respectively.
Sum Assured
*For CSB option, the base Sum Assured chosen by the Policyholder / Working Spouse should be at least Rs. 50,00,000
