SUD Life Group Retirement Benefit Plan

UIN: 142L049V01 - Non-Participating Unit Linked Group Insurance Plan. “IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICY HOLDER”

SUD Life Group Retirement Benefit Plan is a non-participating unit linked group insurance plan that provides insurance coverage as well as helps employers pay their employees’ gratuity or leave encashment easily. SUD Life Group Retirement Benefit Plan is an annually renewable group insurance solution for employers to efficiently handle gratuity and leave encashment commitments while optimising financial resources. SUD Life Group Retirement Benefit Plan is the ideal choice for employers seeking to streamline benefit management and support employee retention effectively. It also provides a lump sum amount immediately to the master policyholder if any insured member dies.

  • Choose from four investment funds offering market-linked growth.
  • Low charges to help maximise your investment returns from the investment funds
  • Get complete flexibility in payment of contributions.
  • Enjoy tax benefits for added financial efficiency.

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What is SUD Life Group Retirement Benefit Plan?

The SUD Life Group Retirement Benefit Plan helps employers manage gratuity and leave encashment liabilities effectively. Employers, referred to as Master Policyholders, contribute funds for these liabilities. These contributions are invested in one of four available fund options, chosen based on the employer's preference. Units are allocated once contributions are received. It is a one-year group plan that can be renewed annually. When an employee retires, resigns, or is terminated, the plan redeems the fund units to pay the gratuity or leave encashment benefit as outlined in the scheme rules. In the unfortunate event of an insured member’s death during the policy provided policy is in force, the plan provides a fixed sum assured of ₹1,000 to the Master Policyholder along with the gratuity or leave encashment benefit. SUD Life Group Retirement Benefit Plan offers a structured and efficient way to meet statutory obligations while ensuring financial resources are managed effectively to support both employee's and business needs.

    Download Plan Related Documents

    Product Brochure
    Policy Document

    How Does SUD Life Group Retirement Benefit Plan Work?

    Once you buy the plan, as the master policyholder, you decide on the following: Group size i.e. number of members, Contribution amount, Contribution frequency, Choose funds from 4 investment options. The SUD Life Group Retirement Benefit Plan offers a structured way to manage gratuity and leave encashment liabilities.

    1.Contribution

    The employer, known as the Master Policyholder, makes regular contributions to cover gratuity or leave encashment requirements. These contributions are invested in one or more of four available funds: Group Growth Fund (SFIN: ULGF 001 20/03/15 SUD-GN-GR1 142), Group Balanced Fund (SFIN: ULGF 002 20/03/15 SUD-GN-BL1 142), Group Debt Fund (SFIN: ULGF 003 20/03/15 SUD-GN-BN1 142), Group Money Market Fund (SFIN: ULGF 004 20/03/15 SUD-GN-MM1 142). 

    2.Allocation

    Allocation to selected funds must be at least 10%, with a maximum of 100% in a single fund. The Master Policyholder can adjust allocation percentages for future contributions without any limits, ensuring flexibility to match financial goals. Funds can be switched between options, with a minimum transaction value of ₹5,000, ensuring the portfolio adapts to changing market conditions.

    3.Benefit

    On retirement, resignation, or termination, the fund value is redeemed to pay gratuity or leave encashment benefits as per the scheme rules. In case of an insured member’s death, ₹1,000 is paid immediately, along with the gratuity or leave encashment benefit. No partial withdrawals are permitted under this plan. Top-ups are only allowed to address underfunding per AS15 guidelines. This plan ensures efficient management of employee benefit duties while offering flexibility and robust fund options.

    How Does the SUD Life Group Retirement Benefit Plan Work?

    Plan Variants

    Platinum

    Platinum Plus

    SUD Life Group Retirement Benefit Plan Benefits

    Here are the benefits that you get from the plan

    Efficient Liability Management

    Investment Options

    Flexibility

    Why choose SUD Life Group Retirement Benefit Plan?

    SUD Life Group Retirement Benefit Plan is the ideal option for you because of the following points
    • Simplifies financial planning for gratuity and leave encashment commitments.
    • Provides tax benefits, adding financial efficiency to the plan.
    • Allows unlimited fund switching to maximise returns based on market trends.
    • Lowest Fund Management Charges (FMC) under various funds.
    • Ensures dedicated fund utilisation exclusively for employee benefit payouts.
    TESTIMONIALS

    Know why customers buy life insurance from us

    Supporting the Farming Community

    SUD Life supported the farming community in Mohpuri in installing drip irrigation equipment in our fields. This has optimized our overall water use and helped farmers tremendously in our village. Using drip irrigation, I now grow 7–9 quintals of cotton per acre as compared to 5–6 quintals per acre earlier. Moreover, this technology ensures that soil retains moisture, improving the quality of the crop as well.

    Narayan Sawant, Farmer, Mohpuri
    Providing commuting options

    I received a bicycle in 2016 from the SUD Life Foundation. Since then, I have been asserting my independence by commuting without anyone’s help. The bicycle has changed my life completely. Today, I can pursue my education without being a financial burden on my family as my cycling to college helps my family save ₹40 per day.

    Jayashri Rajendra Ardad, Student, Bolegaon
    Providing Income generating opportunities

    In 2012, my life took a miserable turn, when after repeated crop failures—due to adverse climatic conditions—agricultural yield declined, and my husband lost his life to a prolonged illness. I was left to fend for my three kids under the age of 10. Around this time, I received a sewing machine from the SUD Life Foundation. Thereafter, I completed a tailoring course in Ambad. The sewing machine helps me provide for my children as well as allows me to work from home with such young kids to care for. Today, I earn ₹200-250 per day. I am truly grateful to SUD Life, as I am capable of raising my children on my own.

    Radha Somdhane, Homemaker and Seamstress, Bolegaon
    And Many More..
    View All

    Why Choose SUD Life

    98.6%

    Claim Settled as per 31.03.2024

    19000+

    19000+ Distribution Points across India for Life Insurance Purchase and Service

    24,761 Cr

    Assets Under Management

    1,51,00,000+

    Happy Customers

    Hassle Free

    Easy Payments

    CONNECT WITH US

    WhatsApp

    7208867122

    Email

    digital@sudlife.in

    Toll Free

    Monday to Saturday 09:00 AM to 07:00 PM

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    Frequently asked questions (FAQs)

    What are the investment fund options under the SUD Life Group Retirement Benefit Plan?
    Can the Master Policyholder change the allocation of contributions or switch funds under the SUD Life Group Retirement Benefit Plan?
    What charges are applicable under the SUD Life Group Retirement Benefit Plan?
    What are the Fund Management Charges (FMC) for the different funds under the SUD Life Group Retirement Benefit Plan?
    How is the Net Asset Value (NAV) calculated, and how are units allocated under the SUD Life Group Retirement Benefit Plan?
    What is the Force Majeure condition under the SUD Life Group Retirement Benefit Plan, and how does it affect fund valuation?
    How can the SUD Life Group Retirement Benefit Plan be surrendered?

    The plan offers four fund options to cater to different investment goals and risk profiles: Group Growth Fund (SFIN: ULGF 001 20/03/15 SUD-GN-GR1 142): Focuses on long-term capital appreciation with a mix of equity (30–60%) and debt instruments, suitable for higher-risk tolerance. Group Balanced Fund (SFIN: ULGF 002 20/03/15 SUD-GN-BL1 142): Balances moderate equity exposure (10–30%) with a larger focus on debt (50–90%), ideal for medium-risk investors. Group Debt Fund (SFIN: ULGF 003 20/03/15 SUD-GN-BN1 142): Prioritises stable returns through full exposure to high-quality debt instruments (70–100%) with low to medium risk. Group Money Market Fund (SFIN: ULGF 004 20/03/15 SUD-GN-MM1 142): Ensures capital safety with money market investments (70–100%), offering low-risk returns. Employers can choose funds based on their objectives and risk appetite, with flexible allocation and switching options to optimise returns.

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    This is a simple term insurance plan that provides life cover for your family.

    • Life cover ranges from ₹5 lakhs to ₹25 lakhs
    • You can join between ages 18 to 65
    • Covers you up to age 70
    • Choose to pay premiums once, regularly, or for 5 or 10 years
    • Policy terms from 5 to 40 years
    • 45-day waiting period at the start (only accidental death covered during this time)
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    Disclaimers