Ashiana Suraksha is a decreasing term insurance plan. The plan provides high sum assured at lower one time premium but does not provide any maturity benefits to its customer. People in the age group of 18 - 65 years can be covered under this plan. Coverage ceases with the expiry of the term of the loan.

At any point of time from start of cover surrender value is available subject to loan being fully repaid before the end of the term. Nomination is compulsory under this plan. It also provides for the income tax benefits u/s 80c.

• Life cover for the entire period of the loan equivalent to the outstanding loan amount
• In the event of death, Star Union Dai-ichi Life pays the balance loan (as per original EMI Schedule) directly to the bank, thus providing complete freedom to the family. However overdue amount, if any, is not covered.
• Insurance premium paid is eligible for tax rebate under section 80 C of Income Tax act with a overall ceiling of Rs.1,00,000/-
• The death claim is tax free in the hands of the nominee / assignee under Section 10 (10) D of Income Tax Act.
• Protects the borrower against death due to any reason.
• Insurance cover up to age 70 of the borrower, or the last date of repayment, whichever is earlier.
• Single premium for the entire duration of the loan. Availability of additional loan from the bank to cover the premium amount.
• Hassle-free joining process.
• Service Tax as applicable will be charged extra @ 10.30% at present.
• Premium payable determined based on Loan Amount, Term of repayment and age of the borrower.

• Will not cover if death occurs within first 45 days from the commencement of insurance cover.
• Death due to suicide during the first 12 months from the commencement of insurance.