SUD Life Immediate Annuity Plus

UIN - 142N048V08 | Non-Linked Non-Participating Individual Immediate Annuity plan

SUD Life Immediate Annuity Plus is a retirement-focused immediate annuity plan offering consistent pension payouts to support a comfortable and worry-free post-retirement life. This annuity plan by SUD Life includes guaranteed pension payments, varied annuity options to choose from as per your needs, a one-time premium payment plan, and a surrender benefit on diagnosis of specified critical illnesses. Receive annuity instalments as per chosen frequency i.e. annually, semi-annually, quarterly or monthly. ^ Surrender benefit available only under Annuity Option 2, 3 and 6.

Cost-effective plan with no allocation charges and return of other charges
Loyalty addition and wealth boosters add to your fund value
Enjoy flexibility through switching and partial withdrawals
Three plan options and investment strategies to choose from

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What is SUD Life Immediate Annuity Plus Plan?

Q: What is the High Purchase Price Benefit, and how does it work?

The High Purchase Price Benefit increases the annuity rate if you invest a higher amount. For purchase amounts: Below 10 lakhs: No increase (0%), Between 10 lakhs and 25 lakhs: Annuity rate increases by 3%, 25 lakhs and above: Annuity rate increases by 4%.

Q: How are the annuity payments calculated for different payment modes?

The annuity payable is adjusted based on the payment mode selected. The modal factors for each mode are as follows: Yearly: 1.0400, Half-Yearly: 0.5090, Quarterly: 0.2518, Monthly: 0.0833.

SUD Life Immediate Annuity Plus is designed to provide a steady financial inflow during retirement. SUD Life Immediate Annuity Plus allows policyholders to make a single premium payment and choose from various annuity options tailored to their financial needs and preferences. This plan ensures a periodic annuity payment offering financial security and peace of mind in one's later years.

The plan offers multiple annuity options, including life annuity, life annuity with return of purchase price, and joint life annuity, among others. Policyholders can select the frequency of annuity payments-monthly, quarterly, half-yearly, or annually-based on their financial requirements. You can use your savings, proceeds from a deferred pension plan, reverse mortgage, or the National Pension System (NPS) to buy the plan.

SUD Life Immediate Annuity Plus is suitable for individuals seeking a guaranteed income post-retirement. SUD Life Immediate Annuity Plus offers flexibility in annuity payment options and annuity choices, allowing policyholders to customise their retirement income strategy effectively. By securing a consistent income stream, SUD Life Immediate Annuity Plus helps individuals maintain their lifestyle and meet financial obligations during their retirement years.

Download Plan Related Documents

Product brochure (Prospectus)

Policy Presentation

Policy Document

Customer Information Sheet

Plan options available under Immediate Annuity Plus Plan

Once you purchase the SUD Life Immediate Annuity Plan, you must decide on the following policy details right away: Choice of Annuity Options, Purchase Price, Annuity Payment Frequency, Secondary Annuitant (if opted for joint life). The secondary annuitant can only be the spouse of the primary annuitant and cannot be changed during the policy period. Also, the annuity payment mode cannot be altered later once selected. The annuity amount will be determined by factors such as the age of the annuitant(s), the purchase price, the chosen annuity payment mode, and the selected annuity option. The pension will be paid, as per the chosen payment mode.

1.Plan Option A:

Plan Option A is available for individuals who purchase Immediate Annuity either from their savings or from policy proceeds of deferred pension plan/National Pension Scheme. You can choose from any of the 9 annuity options. The annuity instalments will be paid based on the annuity option you choose, as long as the annuitant(s) are alive or until the end of the specified period (for options 7, 8, and 9), whichever comes later. Under Annuity Option 4, 5, and 6, Secondary Annuitant can only be the Spouse of the Primary Annuitant and cannot be changed subsequently at the time of policy commencement. If Secondary Annuitant dies before the Primary life, the annuity payout will continue to be paid until the Primary Annuitant is alive and the contract ceases immediately after the death of the Primary Annuitant.

2.Plan Option B:

Plan Option B is available only for individuals who purchase Immediate Annuity from the proceeds of Reverse Mortgage loan offered by any approved financial institution as mentioned in the Gazette of India.

Individuals aged above 60 years only can avail loans through Reverse Mortgage Loan facility. They can purchase this annuity plan (Plan Option B) through the loan proceeds by submitting a proof of having availed the loan through Reverse Mortgage Loan facility offered by any approved financial institution as mentioned in the Gazette of India.

*Please note: Annuity Options once chosen cannot be changed subsequently.

3.Plan Option C:

Plan Option C is available only for individuals who purchase Immediate Annuity from the proceeds of NPS.

The default annuity option under this plan is the Annuity Option 6, which is “Joint Life Annuity (100%) with Return of Purchase Price”. But, in case, the annuitant does not have a spouse, the annuity benefit will be payable for life of the annuitant as per the Annuity Option 2, which is “Life Annuity with Return of Purchase Price”.

SUD Life Immediate Annuity Plus Plan Benefits

Here are the benefits that you get from the plan

Death Benefit

Survival Benefit

High Purchase Price Benefit

Lifetime Income

Choice of Plans

Critical Illness Financial Support

Why choose SUD Life Immediate Annuity Plus?

SUD Life Immediate Annuity Plus Plan is the ideal option for you because of the following points

A dependable retirement plan offers lifelong regular income to safeguard your financial future.
Provides financial assurance with the return of the purchase price in case of death (available with select annuity options)
Allows surrender in case of diagnosis with specified critical illnesses, offering financial support.

Testimonials

Know why customers buy Life Insurance from us

Best Insurance Claim Support Team

Choosing SUD Life Insurance was one of the best decisions I've made for my family's future. Their attentive team made the entire process seamless, ensuring I found the perfect plan tailored to my needs.

Ramprakash Shivram Yadav

Companies in India for Life Insurance Policy with a Wide Reach

Suresh Gajanan Patil

PMJJBY Claim

I have visit at Nanded Branch for pmjjby death claim documents submitted i very thankful mr.. akash sir my uncle Pmjjby death payment received at 3dyas.

Yash Thakur

And Many More.

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Why Choose SUD Life?

1.52+ Cr Lives Covered

3rd Largest Life Insurer for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

20,000+

Distribution Points across India

31,000+ Cr

Assests Under Management

99.01% Claims Settlement Ratio

Individual Claims Settlement Ratio as on 31.03.2026

₹8,260 Crore

Gross Premium till 31.03.2025

4,500 Cr EV* (Dec '24)

*Indian Embedded Value 4,000 Cr (Mar'24)

Connect with us

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(+91) - 7208 867122

Email

customercare@sudlife.in

Toll-Free Number

1800 266 8833
Monday to Saturday
09:00 AM to 07:00 PM

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Frequently asked questions (FAQs)

1. Which critical illnesses are covered under the Surrender benefit of the SUD Life Immediate Annuity Plus Plan?

2. What is the High Purchase Price Benefit, and how does it work?

3. How are the annuity payments calculated for different payment modes?

The critical illnesses covered are: Cancer of a defined severity, First heart attack (Myocardial Infarction) of specified severity, Stroke leading to permanent symptoms, Open chest Coronary Artery Bypass Graft (CABG), Kidney failure leading to regular dialysis, Multiple sclerosis with ongoing symptoms, Major organ transplant or a transplant of the bone marrow, Open-heart surgery for valve replacement or repair, Coma of specified severity, Permanent paralysis of either or both limbs, Motor neuron disease with lasting symptoms