SUD Life Century Income Plan

Eligibility Criteria for the SUD Life Century Income Plan

Features of the SUD Life Century Income Plan

Some of the key features of the SUD Life Century Income Plan include:

• This plan offers flexibility to choose between three income options: Immediate Income, Deferred Income, and Twin Income, based on your financial needs.
• You can start receiving guaranteed income as early as the end of the first policy year, or defer it to a later stage.
• The plan provides an option to accumulate your income in a Safe Box facility and withdraw it as needed.
• It also allows you to receive income on special dates, such as birthdays or anniversaries, for better financial planning.
• With the Premium Offset feature, you can adjust future premiums using the accumulated income.
• Higher premium payments may result in enhanced benefits, helping you build a larger corpus over time.
• Premiums paid and benefits received may be eligible for tax benefits as per applicable tax laws.

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 Century Income Plan

The SUD Life Century Income Plan is a product that provides savings and protection benefits. It is appropriate for those who want a guaranteed income and financial security.

• Maturity Benefit: On survival until the end of the policy term, you will get a guaranteed maturity benefit that will be in the form of a lump sum.
• Death Benefit: under the event of death of the life assured during the term of the policy, the nominee will receive the greater of:
  • Sum Assured on Death (typically 10 times the annual premium), or
  • Surrender value, or
  • 105% of total premiums paid
• Guaranteed Income: Depending on the option chosen, you receive regular income either from the first year, after the premium term, or at specific intervals.
• Flexible Income Options: The plan lets you choose how and when you receive income, helping you align with your financial goals.

Policy Details of the SUD Life Century Income Plan

People should familiarise themselves with the policy conditions to make informed decisions.

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 Century Income Plan

• Suicidal Cover: In case the death occurs by a suicide within 12 months following the time of policy start or upon revival, the coverage will be financed as per the terms and conditions of the policy.