SUD Life Smart Guaranteed Pension Plan

UIN: 142N123V01 | Individual Non-Linked Non-Participating Pension Plan

SUD Life Smart Guaranteed Pension Plan is a non-linked non-participating pension plan that provides insurance coverage as well as helps to build a corpus to live happily in your golden years.

Flexible premium payment terms based on policy terms
Enhances savings with a higher Assured Vesting Benefit based on the premium value
Allows partial withdrawals for significant life events
Avail loan by using policy as collateral after it gains surrender value
Flexibility to change premium payment frequency as per your financial situation

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What is SUD Life Smart Guaranteed Pension Plan?

The SUD Life Smart Guaranteed Pension Plan is designed to provide financial security for your retirement years. It helps you systematically build a retirement corpus while offering life insurance coverage. This non-linked, non-participating pension plan ensures that you have a steady income post-retirement, giving you peace of mind and financial independence.
At the end of the policy term, you receive an Assured Vesting Benefit, ensuring your savings grow over time. In case of an unfortunate event, your nominee will receive a lump sum as a Death Benefit, helping secure their financial future. The plan also provides flexibility in premium payments, partial withdrawals for key life moments, and the option to avail of a loan against the policy once it gains surrender value. Premium payment frequency can only be changed at the policy anniversary.
If you're looking for a reliable pension plan that offers guaranteed benefits, flexibility, and financial stability, the SUD Life Smart Guaranteed Pension Plan is a great choice. It helps you prepare for retirement with confidence while ensuring security for your loved ones.

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How does the SUD Life Smart Guaranteed Pension Plan Work?

On buying the SUD Life Guaranteed Pension Plan, you decide on the following:

1.Choose Plan Details

While buying SUD Life Guaranteed Pension Plan, choose the following:

Annual premium
Policy term
Premium payment term
Premium payment frequency

2.Financial Security

This plan helps you build a retirement corpus while also providing financial security. Throughout the policy term, your contributions accumulate, ensuring a stable income post-retirement. At the end of the policy term, you receive the Assured Vesting Benefit, which is a guaranteed amount based on the premiums paid and the vesting benefit factor. This amount can be used to purchase an annuity for regular post-retirement income. You can save more on vesting benefits for higher premium payments.

3.Flexibility & Loan

The plan offers flexibility, allowing you to take partial withdrawals for major life events after three years.

You can also take a loan against the policy once it has acquired surrender value.

4.Example

A man aged 35 years buys the SUD Life Smart Guaranteed Pension Plan for 20 years. The plan details are as follows:

Premium payment term: 10 years
Annual premium: ₹1 lakh
Premium frequency: Annual

If he survives the complete policy term, he shall receive an Assured vesting benefit of ₹21,25,710. However, in case of the unfortunate death of the man during the policy term, his nominee shall receive a lump sum of ₹16,85,558 as an assured death benefit.

Benefits of the SUD Life Smart Guaranteed Pension Plan

Highlighted below are the major benefits of this policy:

Vesting Benefit

Death Benefit

High Premium Benefit

Partial Withdrawals for Life Events

Loan Facility

Flexible Premium Payment

Guaranteed Retirement Planning

Why choose the SUD Life Smart Guaranteed Pension Plan?

SUD Life Smart Guaranteed Pension Plan is designed to provide a secure and worry-free retirement, ensuring a steady income while offering flexibility and financial protection.

It provides the dual benefit of insurance coverage and wealth creation.
The plan rewards higher premium payments, thus maximizing returns.
Investment starts from as low as Rs. 50,000 to as high as allowed, thus making it suitable for people of diverse financial status.
Features like partial withdrawal, surrender benefit and loan availability ensure that you have funds in times of crisis.
Save on taxes for premiums paid and benefits received under applicable tax laws.

Why Choose SUD Life?

1.51+ Cr Lives Covered

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

19,500+

Distribution Points across India

24,700+ Cr

Assests Under Management

98.6%

Claims Settled as per 31.03.2024

5,641 Cr Gross Premium till Dec '24

6,718 Cr Gross Premium Mar '24

4,500 Cr EV* (Dec '24)

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

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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)

What is the Vesting Benefit in SUD Life Smart Guaranteed Pension Plan?

How does the Assured Vesting Benefit increase with a higher premium?

What happens if I miss a premium payment under the SUD Life Smart Guaranteed Pension Plan?

Can I revive my lapsed or Reduced Paid-up policy?

Can I surrender the SUD Life Smart Guaranteed Pension Plan before completion?

Can I make partial withdrawals from the SUD Life Smart Guaranteed Pension Plan?

Can I take a loan against my SUD Life Smart Guaranteed Pension Plan?

The Vesting Benefit is the guaranteed amount you receive at the end of the policy term if the policy is active. It is calculated using the following formula:

Assured Vesting Benefit = (Vesting Benefit Factor / 100) × Annual Premium × Number of Premiums Payable (in years)

The Vesting Benefit Factor varies based on the Premium Payment Term (PPT) and the Policy Term (PT).