SUD Life - Defined Benefit Endowment Plan

The SUD Life Defined Benefit Endowment Plan offers an opportunity to build up future income streams to meet for multiple purposes, either planned or contingencies.

During the earning age, a person can contribute to the policy with varying options (5, 10, 15 or 20 years). This plan is available for persons aged 18 to 60. The policy would assure regular payment of the chosen benefit at monthly intervals for 15 long years.

This policy also offers the much needed life cover during the premium paying term, which amount would be a portion of the sum assured.

Looking to the assured nature of the benefits, the policy is designed under traditional mode without linking it to the fluctuations of financial market.

Benefits:

• On maturity, for 15 years monthly pay-out will be made as chosen by the policy holder at the time of joining the scheme.  On 15^th year additional benefit by way of “Goodwill Terminal Benefit” will be paid

• In case of any untoward during the period of monthly payments, it will be paid to nominee till 15^th year

• During the term of the Plan, any untoward happens 25% of Sum Assured will be paid to nominee as lump sum, and from the subsequent month onwards monthly pay-out  to nominee will commence for 15 years

• Tax benefit is available for premium payment under Sec. 80  ( c ) & for the maturity benefit under Section 10 (10D)

Insurance is the subject matter of solicitation.