SUD Life Smart Guaranteed Pension Plan

Eligibility Criteria for the SUD Life Smart Guaranteed Pension Plan

Features of the SUD Life Smart Guaranteed Pension Plan

Here are the key features of the SUD Life Smart Guaranteed Pension Plan:

• Guaranteed Vesting Benefit: The plan offers a guaranteed amount at policy maturity. This will help you build a sustainable retirement corpus and plan how to spend your money in retirement.

• Non-Linked and Low-Risk: This is a non-linked plan, which means your investment is not tied to market performance. As a result, it is not exposed to market fluctuations. It offers a stable and secure return profile, making it suitable for individuals seeking predictable outcomes without taking on market-related risks.

• Convenient Premium Payments: You can select the term and frequency of paying the premium based on your budget. This helps plan and manage long-term goals.

• Partial Withdrawal Facility: SUD Life Smart Guaranteed Pension Plan offers financial flexibility through partial withdrawals after a defined period based on life events, including education, medical needs, or emergencies.

• Loan Facility Against Policy: After the policy develops a surrender value, you can obtain a loan on it. This facility may be used for immediate financial needs without terminating the policy.

• High Premium Benefit: Insured individuals can choose to pay higher premiums to achieve higher vesting benefits, allowing them to save more for retirement.

SUD Life Smart Guaranteed Pension Plan provides stability and disciplined savings within Star Union Dai-ichi Traditional Plans.

Benefits of the SUD Life Smart Guaranteed Pension Plan

Below are the benefits of SUD Life Smart Guaranteed Pension Plan:

1. Assured Vesting Benefit:

   At the expiry of the policy period, you are guaranteed to get a specific sum of money. This helps develop a sound retirement corpus.

2. Death Benefit Protection:

   The nominee is guaranteed financial support in the event of the policyholder's death, receiving 105% of the accumulated value or 105% of the premiums paid.

3. Guaranteed Returns:

   As a non-linked plan, it offers guaranteed returns, unaffected by market fluctuations.

4. Retirement Income Security:

   The maturity proceeds will be available to acquire the annuity plans, which would provide a regular income upon retirement.

5. Financial Stability And Discipline:

   Encourages long-term savings through structured payouts, helping you confidently achieve your retirement goals.

​SUD Life Smart Guaranteed Pension Plan stands out as one of the best investment plans for individuals seeking assured, stable retirement benefits.

Policy Details of the SUD Life Smart Guaranteed Pension Plan

Understanding policy servicing provisions helps policyholders manage their plan over time. Let us review the major policy conditions.

1. Grace Period

   The average premiums can have a grace period of 30 days (15 days in the case of the monthly mode) and still be covered.

2. Revival

   The policy may be reinstated within five years after the initial non-paying premium by paying the dues, including the required interest.

3. Free Look Period

   A free 30-day look period is provided, during which the policy can be cancelled if expectations are not met.

4. Surrender

   The policy becomes surrenderable once it attains a surrender value, and payouts will be made on the relevant terms.

5. Loan

   During the policy term, loans up to 70% of the surrender value may be availed under certain conditions.

Exclusions under the SUD Life Smart Guaranteed Pension Plan

1. Suicidal Cover

   In case death is caused by suicide within 12 months, the payment is restricted as per policy terms.

2. Total Permanent Disability (TPD)

   There is no separate benefit of TPD without any further specification.