SUD Life Aadarsh Plan

Eligibility Criteria for the SUD Life Aadarsh Plan

Features of the SUD Life Aadarsh Plan

The SUD Life Aadarsh Plan is designed to provide guaranteed savings and life protection in a simple, structured manner. Key features of the plan include:

• Guaranteed Maturity Benefit: Offers a fixed maturity payout on the basic sum assured, ensuring predictable returns at the end of the policy term.
• Limited Premium Payment Term: Requires premium payments for only five years, while the policy continues for a total term of ten years.
• In-built Accidental Death Benefit: Includes an automatic accidental death cover, enhancing the overall protection provided by the plan.
• Non-linked and Non-participating Plan: Benefits are guaranteed and not affected by market fluctuations or company performance.
• Combined Savings and Protection: Provides both life insurance coverage and savings benefits under a single plan.
• Flexible Premium Payment Modes: Choose from different premium payment frequencies based on your convenience.

You may also explore Star Union Dai-ichi investment plans to compare benefits and find one that better fits your financial goals.

Benefits of the SUD Life Aadarsh Plan

The SUD Life Aadarsh Plan will come with savings and protection features. It is appropriate for people who seek guaranteed returns and life cover.

• Maturity Benefit: In case the life assured lives till the end period of the policy term, the maturity benefit, which is guaranteed, is paid as the basic sum assured.
• Death Benefit: When the policyholder dies during the term, the nominee is granted the death benefit, which is granted in two forms:
  • 10 times the annualised premium, or
  • 105% of total premiums paid, or
  • Basic sum assured, or
  • Guaranteed maturity benefit
• Accidental Death Benefit: The nominee gets twice the death amount assured in case of accidental death, with the increase in financial protection.
• Disciplined Savings: It is a plan that builds a fixed corpus over time, with payouts assured.
• Tax Benefits: In practice, paid premiums and received benefits may be included in tax benefits under the law.

Policy Details of the SUD Life Aadarsh Plan

Understanding the policy conditions helps you make better decisions when choosing a savings plan for long-term financial security.

1. Grace Period

   There is a 30-day grace period (15 days in the monthly mode) to pay overdue premiums and retain the benefits.

2. Revival

   The policy may be revived within 5 years of the date of the first unpaid premium by paying outstanding dues together with interest.

3. Free Look Period

   Within 30 days of receiving the document, you can take a preview of the policy and return it if you are dissatisfied.

4. Surrender

   The policy may be surrendered after at least one year of policy has expired, at the surrender value.

5. Loan

   Once the policy has a certain amount of surrender value, you can take a loan against it, subject to the terms and conditions.

If you are exploring similar options, you can also check other investment plans that offer a mix of savings and life cover.

Exclusions Under the SUD Life Aadarsh Plan

Suicidal Cover

The nominee will get either 80% of the payments made on premiums or the surrender amount in case of demise during the 12 months following the date of the commencement or revival of the policy as a result of suicide.