SUD Life Smart Income Plan

Eligibility Criteria for the SUD Life Smart Income Plan

Features of the SUD Life Smart Income Plan

Here are the key features of the SUD Life Smart Income Plan:

• The plan offers flexibility, allowing you to choose from 9 plan options based on your financial objectives.
• You are allowed to get a guaranteed income either by the end of the first policy year or may be deferred.
• The plan offers an Insta Cash benefit, in which a portion of the premium is paid shortly after the policy is issued.
• It enables you to save assured earnings in a safe box and get them when required.
• Premium offset option: You have the option of adjusting future premiums based on accumulated income.
• The plan will also provide life insurance cover during the time of policy term.
• Tax incentives can be offered to it in accordance with existing tax regulations.

You can explore more options under Star Union Dai-ichi ULIP Plans to compare similar market-linked insurance plans and choose what suits your goals.

Benefits of the SUD Life Smart Income Plan

The SUD Life Smart Income Plan offers both income and protection benefits to address long-term financial needs. Some of the benefits are:

• Maturity Benefit: In case of policy termination, a lump-sum benefit is paid based on the option selected.
• Death Benefit: This is paid to the nominee, 10.5 times the annualized premium or 105% of the total premiums paid, upon the policyholder's death.
• Fixed or increasing: This option ensures a constant or steadily increasing income, depending on the policy's duration.
• Liquidity Benefits: Insta Cash and Safe Box services allow you to access funds when needed.
• Flexible Income Timing: You can either receive income when you want or delay it to meet your needs.

Policy Details of the SUD Life Smart Income Plan

Understanding the policy terms helps in making better financial decisions. Here are the policy details of this plan:

1. Grace Period

   There is a grace period to make up for missed due premiums without forfeiting the policy benefits, provided the premiums are paid beyond the due date.

2. Revival

   if the policy lapses due to non-payment, it may be revived during the revival period by paying the outstanding premiums.

3. Free Look Period

   You have 15 days (30 days for distance marketing) to review the policy, and you can return it if you are dissatisfied.

4. Surrender

   The policy can be surrendered after the expiry of the lock-in period, and the fund value will be paid in accordance with the terms.

5. Loan:

   Loans will be available for 60% of the surrendered value, subject to policy conditions.

If you are looking for broader options, you can explore different investment plans to find one that aligns with your financial needs.

Exclusions Under the SUD Life Smart Income Plan

Suicidal Cover: In case death has happened as a result of suicide within 12 months of the policy inception or revival, the benefits will be paid according to the policy provisions.