What is SUD Life E-Wealth Royale Plan?

Death Benefit

Upon the death of the Life Assured during the policy term, if the policy is active and risk has commenced, the death benefit will be paid immediately as a lump sum. The benefit is the highest of:

• Sum Assured minus relevant partial withdrawals,
• Fund Value on the date of notification, or
• 105% of total premiums paid.

If the risk has not commenced, the death benefit will be the highest of:

• Fund Value on the notification date, or
• 105% of total premiums paid.

For the Platinum Plus plan, if the Life Assured is a minor, the present value of future premiums will be credited to the fund value.

Maturity Benefit

On survival of Life Assured till the end of the policy term provided the policy is in-force, fund value calculated at prevailing NAV as on maturity date will be paid to the policyholder along with return of charges as mentioned below and the policy will terminate immediately.
 

Return of Charges

1. Return of Policy Administration Charges (RoPAC): At the end of the 10th policy year, total policy administration charges deducted will be added back as RoPAC to the fund value, allocated proportionally among the funds based on unit value. RoPAC will not apply if the policy is surrendered or discontinued but will be added if reduced paid-up or in the revival period, excluding any GST or applicable taxes.
2. Return of Mortality Charges (RoMC): On the maturity date, total mortality charges deducted during the policy term will be added back as RoMC to the fund value, with the same exclusions and conditions as RoPAC.
3. Return of Additional Risk Benefit Charges (RoARBC): For Platinum Plus policyholders, additional risk benefit charges deducted will be added back as RoARBC at maturity, with similar conditions as RoPAC and RoMC, excluding any extra charges and taxes. RoARBC is not available if the additional risk benefit was due to specific exclusions.

Switching

• Any amount of fund value can be switched out subject to a minimum amount of ₹5,000 for Base Plan. Switch request may be for an absolute amount or a percentage of the fund value.
• Switching is allowed during the currency of the policy.
• Switching is subject to condition that the minimum allocation percentage per selected fund shall be 10%.
• Twelve switches per policy year are free of cost. Every additional switch will be charged ₹100/- per switch and will be recovered by cancellation of appropriate number of units.
• Unused switches cannot be carried forward to future policy year(s).
• An option to perform fund switch is available only under Self-Managed Investment Strategy.

Partial Withdrawals

• Partial withdrawals are not allowed during the first 5 policy years or when life assured is a minor. It is allowed from sixth policy year onwards or after Life Assured attains age 18, whichever is later.
• Only the first four partial withdrawals in a policy year are free. Further additional withdrawals during the policy year will be charged at ₹100 per withdrawal.
• Unused free partial withdrawals cannot be carried forward to the future policy year(s).
• The general partial withdrawal rules are as follows:

1. i. Minimum partial withdrawal amount allowed is ₹5,000.
2. ii. Maximum partial withdrawal: fund value less 105% of total premiums paid i.e. at any point of time during the policy term, the minimum fund balance under the base plan after the partial withdrawal should be at least equal to 105% of the total premiums paid under the base plan. 

Loyalty Additions

Each year loyalty addition shall be added to the fund by way of creation of extra units starting from the end of 6th policy year up to the end of premium payment term. Each loyalty addition shall be equal to 0.10% of average fund value of the last 12 months. 

Loyalty additions will not be added after the premium paying term is over. Loyalty addition will be allocated among the funds in the same proportion as the value of total units held in each fund at the time of allocation. Loyalty additions will be added to the fund value at the end of respective policy year and once added will continue to form part of the fund value. 

Loyalty addition will be payable provided all due premiums under the policy have been paid up to date. 

Loyalty Addition will not be added in future in case of a Surrendered, Discontinued or Paid-up policy. 

Wealth Boosters

Wealth Booster will be added to the fund by way of creation of extra units every 5th policy year starting from the end of 10th policy year. Each Wealth Booster shall be equal to 3% of average fund value of the last 24 months. 

Wealth Boosters will be allocated among the funds in the same proportion as the value of total units held in each fund at the time of allocation. 

Wealth Booster will be added to the fund value at the end of respective policy year and once added will continue to form part of the fund value. 

Wealth Booster will not be added in future in case of a Surrendered and Discontinued policy. Wealth Booster shall be added to the fund up to the date of intimation of death. 

Wealth Boosters will be added even if the Policy is Reduced Paid-up or is in the Revival Period.

Premium Redirection

(Applicable only for Regular/Limited Premium Payment Term)

The policyholder has the option of premium redirection subject to the below conditions, provided the policy is in-force and the life assured is alive. 

• Under the Self-Managed Investment Strategy, the policyholder may alter the allocation percentages under various fund for future premiums subject to the minimum allocation percentage per selected fund shall be 10%, by giving notice in writing to SUD Life either at the time of payment of premium or prior to the remittance of the relevant premium.
• By default, new allocation percentage will be applicable to all future premiums.
• Redirection will not affect existing units.
• No redirection facility will be allowed in the first policy year.
• This facility is available at any point of time from 2nd policy year onwards and is effective from the date a valid request is received by the Company.

Platinum

An option that provides Life cover along with wealth creation for the entire policy term. Useful if you want to fulfill your personal ambitions while providing your family with an assurance that their dreams will be fulfilled even in your absence. 

Platinum Plus

Beneficial for Individuals with Kids. 

In case the Life Assured is Minor at Date of Commencement of the Policy: 

If the Policyholder dies or suffers Total & Permanent Disability due to an Accident (ATPD) during the Premium Paying Term, no future premiums will be required. The Policy will remain a Fully Paid-up and in-force policy until the end of the Policy Term, provided all due premiums prior to the incident have been paid.

In case the Life Assured is Major (Age at Entry >= 18 Years) at Date of Commencement of the Policy: 

No future premiums are required if the Life Assured suffers Total and Permanent Disability due to an accident (ATPD) during the Premium Paying Term, even if some premiums are unpaid. The policy will continue as Fully Paid-up and in-force until the end of the Policy Term, provided all due premiums prior to the incident have been paid.