SUD Life Star TULIP Plan

Eligibility Criteria for the SUD Life Star TULIP Plan

Features of the SUD Life Star TULIP Plan

The SUD Life Star TULIP Plan comes with a range of features designed to offer both protection and investment flexibility:

• It is a Unit Linked Insurance Plan (ULIP) that provides a high life cover of up to 30 times the annual premium, subject to policy terms and the policyholder's age.
• The plan offers flexibility through two investment strategies: self-managed and age-based, so you can choose how your funds are allocated over time.
• You can select from multiple fund options, enabling diversification based on your financial goals and risk appetite.
• The policy allows up to 12 free fund switches per year, helping you adjust your portfolio in response to market movements.
• Partial withdrawals are permitted after the completion of five policy years, providing liquidity when needed.
• The plan also offers a return of mortality charges at maturity, along with wealth boosters, rewarding long-term policy continuity.

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 Star TULIP

The SUD Life Star TULIP plan provides protection benefits as well as long-term financial planning benefits.

• Maturity Benefit: Upon the insured's survival to the expiry of the policy period, the fund is paid at the prevailing NAV, together with payment of mortality charges.
• Death Benefit: In case of the life assured’s death during the policy term, the nominee receives the highest of:
  • Sum assured (adjusted for withdrawals),
  • Fund value, or
  • 105% of total premiums paid
• Wealth Creation: The plan offers returns based on market movements across a wide selection of funds, helping build a corpus over time.
• Flexibility: You can also choose the best payment plans and investment plans that best suit your financial needs.

Riders Under the SUD Life Star TULIP Plan

The plan offers additional protection through optional riders.

These are accidental death benefit riders, accidental total and permanent disability riders, and critical illness riders. These riders can increase the coverage of the basic plan.

Policy Details of the SUD Life Star TULIP Plan

Understanding the policy terms helps you make better financial decisions.

1. Grace Period

   There will be a 30-day grace period (15 days in monthly mode) to pay due premiums.

2. Revival

   The policy may be reinstated within a specified period after suspension by paying the arrears.

3. Free Look Period

   You may review the policy for 30 days and cancel it if you are dissatisfied.

4. Surrender

   The policy may be surrendered at any time; however, complete benefits cannot be enjoyed until one completes 5 years in the lock-in period.

   

5. Fund Switching

   You are allowed 12 free fund switches per year.

   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 Star TULIP

Suicidal Cover

The benefits will be paid according to policy terms when death happens as a result of suicide within 12 months of policy commencement or revival.