SUD Life Fortune Royale Plan

Eligibility Criteria for the SUD Life Fortune Royale Plan

Features of the SUD Life Fortune Royale Plan

The SUD Life Fortune Royale Plan offers a combination of guaranteed benefits and flexible payout options to suit different financial goals. Key features of the plan include:

• Multiple Benefit Options: Offers a choice between income benefit, lump sum benefit, and child future secure options, allowing you to select a payout structure that aligns with your needs.
• Guaranteed Additions: Provides additions during the premium payment term, helping to enhance the overall policy value over time.
• Bonus Participation: The plan is eligible for simple reversionary and terminal bonuses, which may be declared based on the insurer’s performance.
• Flexible Policy Terms: Allows you to choose the premium payment term and policy duration based on your financial planning horizon.
• Waiver of Premium Benefit: Under the child-focused option, future premiums are waived in case of the policyholder’s death or disability, while policy benefits continue.
• Tax Benefits: Premiums paid and benefits received may qualify for tax benefits as per prevailing income tax laws.

Benefits of the SUD Life Fortune Royale Plan

The plan offers a combination of protection and savings benefits, with options to suit different financial needs:

1. Death Benefit:

   In the event of the policyholder’s demise during the policy term:

   • The payout is made as per the selected plan option
   • Typically includes the sum assured along with bonuses or guaranteed additions
   • The benefit is subject to a minimum payout of 105% of the total premiums paid

2. Maturity Benefit:

   On survival till the end of the policy term:

   • Sum Assured on Maturity is paid
   • May include guaranteed additions, if applicable
   • Reversionary and terminal bonuses may also be added, if declared

3. Income Benefit Option:

   This option is designed to provide regular payouts through cash bonuses, if declared during the policy term.

4. Lump-sum Benefit Option:

   Suitable for those looking to build a corpus:

   • Provides a lump-sum payout at maturity
   • Includes guaranteed additions and bonuses, if applicable

5. Child Future Secure Option:

   Focused on securing a child’s future:

   • Future premiums are waived in case of the policyholder’s death or disability
   • The policy continues with full benefits, without any further premium payments

Policy Details of the SUD Life Fortune Royale Plan

1. Grace Period

   A 30-day grace period (15 days for the monthly mode) is allowed for premium payments.

2. Revival

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

3. Free Look Period

   Policyholders can return the policy within 30 days if they are not satisfied with the terms.

4. Surrender

   The policy can be surrendered after completion of the first policy year. The higher of Guaranteed Surrender Value or Special Surrender Value is payable.

5. Loan

   Loans are available up to 70% of the surrender value, subject to applicable terms and conditions.

Exclusions Under the SUD Life Fortune Royale Plan

1. Suicidal Cover

   If death occurs due to suicide within 12 months, at least 80% of premiums paid or surrender value (whichever is higher) is payable.

2. Total Permanent Disability (TPD)

   TPD-related exclusions apply under the child future secure option, including cases involving hazardous activities, substance abuse, or illegal acts.