SUD Life Pension Plus Plan

Eligibility Criteria for the SUD Life Pension Plus Plan

Features of the SUD Life Pension Plus Plan

Here are the key features of the SUD Life Pension Plus Plan:

• No Mortality Charges: There are no mortality charges on the plan, and your premium will be fully invested, increasing the fund value.

• Flexible Premium and Policy Terms: You can choose a premium and policy term in line with your plan, so you can match your retirement income to your cash flow and commitments.

• Multiple Investment Strategies: You can select from a range of investment options, including self-directed and age-based strategies, to suit your investment risk profile and needs.

• Partial Withdrawal Facility: You can opt for a partial withdrawal after the 5th year of the policy for major life goals such as education, healthcare, or emergencies.

• Top-Up Premium Option: You can make top-ups at any point in the policy term to boost your retirement savings if you have surplus funds.

SUD Life Pension Plus Plan offers flexibility and cost efficiency, making it a strong option within Star Union Dai-ichi Traditional Plans.

Benefits of the SUD Life Pension Plus Plan

Below are the benefits of the SUD Life Pension Plus Plan:

1. Death Benefit Protection:

   The fund value, or 105% of the total premium paid by the insured, will be paid to the nominee in the event of the insured's death during the policy term.

2. Vesting (Maturity) Benefit:

   Upon survival to the end of the policy term, the vesting benefit will be the fund value. This amount can be used to purchase an immediate or deferred annuity to provide a regular income in retirement.

3. Growth Potential Linked to the market:

   The plan is unit-linked, meaning the investments are linked to market performance. This allows you to achieve higher returns over time, as returns depend on the performance of the chosen funds.

4. Flexibility In Investment Decision:

   The SUD Life Pension Plus plan offers multiple fund options and investment options. There is also the option to switch funds during the policy period.

5. Liquidity Partial Withdrawals:

   The plan also allows partial withdrawals post-lock-in period, if required. This offers flexibility in emergency situations, such as medical expenses, education, or other important life issues.

SUD Life Pension Plus Plan stands out as one of the best investment plans for individuals aiming to build a retirement-focused portfolio.

Policy Details of the SUD Life Pension Plus Plan

The following are the policy details of the SUD Life Pension Plus Plan:

1. Grace Period

   Premium payments are allowed a grace period of 30 days (15 days in case of the monthly mode).

2. Revival

   The policy may be reinstated after 3 years of non-paying the premium on a case-by-case basis.

3. Free Look Period

   It has a 30-day free look period, during which the policy can be cancelled in case it is not satisfactory.

4. Surrender

   The policy can be surrendered at any age, and payouts will be subject to lock-in and annuity provisions.

5. Fund Switching

   There is unlimited fund switching at no fee.

Exclusions Under the SUD Life Pension Plus Plan

1. Suicidal Cover

   In case there is death as a result of suicide within 12 months, the amount that is payable is the fund value itself.

2. Total Permanent Disability (TPD)

   No separate TPD benefit is available under the base policy.