SUD Life Family Income Benefit Rider – Traditional

UIN: 142B007V01

SUD Life Family Income Benefit Rider – Traditional is a non-linked, non-participating individual term rider that gives an additional level of financial security to your loved ones when you are not around. SUD Life Family Income Benefit Rider - Traditional offers economic support to your family by providing a steady monthly income in the event of your untimely death. SUD Life Family Income Benefit Rider – Traditional is the right choice for anyone who wants to safeguard their family’s future against financial instability in case they are no longer around.

  • It can be added to your existing life insurance policy for extra protection.
  • Assists your family in covering living expenses and financial commitments after your passing.
  • Perfect choice if you are the sole earning member of the family.
  • Offers flexible premium payment terms

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What is SUD Life Family Income Benefit Rider – Traditional Plan?

SUD Life Family Income Benefit Rider – Traditional is a thoughtful add-on to provide consistent financial support to your family in case of your unfortunate demise. This rider ensures a steady monthly income for a fixed period of 10 years, helping your loved ones manage daily expenses and maintain financial stability. Designed to complement your base policy, it offers an added layer of security to protect your family's future. You can purchase the rider along with the base policy or add it on any policy anniversary. SUD Life Family Income Benefit Rider – Traditional is an excellent choice for those seeking reliable financial protection for their dependents, offering peace of mind and stability during tough times.

    Download Plan Related Documents

    Product Brochure
    Policy Presentation
    Policy Document
    Product CIS
    Premium Rates

    How Does SUD Life Family Income Benefit Rider – Traditional Plan Work?

    Once you select the SUD Life Family Income Benefit Rider – Traditional, you shall choose the following: Premium Payment term, Premium payment frequency, Rider Sum Assured

    1.Death Benefit

    The rider can be bought alongside the policy or added later during any anniversary of the base policy. If the life assured passes away, 10% of the Rider Sum Assured* will be given to the nominee or legal heir every year for 10 years. This amount will be paid monthly. For this, 10% of the Rider Sum Assured divided into 12 equal parts is paid at the end of each policy month. This benefit is provided in addition to the benefits of the base policy.

    2.Sum Assured

    The minimum Sum assured under this rider starts from ₹1 lakh per policy and is capped at ₹50 lahks per policy.

    3.Premium

    This rider offers flexible premium payment options: single, regular, or limited payments. If purchased with the base policy, the rider’s premium payment term (PPT) will be the same as the base policy. If added later, the rider’s PPT will match the remaining premium term of the base policy. For limited premium payment terms, the rider’s policy term must be at least three years longer than its premium payment term. The rider term also aligns with the base policy term if added at the start or adjusts to the remaining term if added later at any policy anniversary. *Provided the rider policy is in force as of the date of death of the life assured.

    How Does the SUD Life Family Income Benefit Rider – Traditional Plan Work?

    Plan Variants

    Platinum

    Platinum Plus

    SUD Life Family Income Benefit Rider – Traditional Plan Benefits

    Here are the benefits that you get from the plan

    Financial Protection

    Flexible Premium Options

    Effortless Addition to Base Plan

    Why choose SUD Life Family Income Benefit Rider – Traditional Plan?

    SUD Life Family Income Benefit Rider – Traditional Plan is the ideal option for you because of the following points
    • Supports your family economically in case of your unfortunate absence
    • Assures a steady monthly income for 10 years to ease financial burdens
    • Supports your base policy with additional income protection
    • Ideal choice for the sole bread earner of the family
    • Simple to attach to your existing life insurance plan for added peace of mind

    Frequently asked questions (FAQs)

    What is the maximum sum assured allowed under the SUD Life Family Income Benefit Rider – Traditional?
    What are the premium payment modes for SUD Life Family Income Benefit Rider – Traditional?
    What is the grace period for premium payments under the SUD Life Family Income Benefit Rider – Traditional?
    What happens if I stop paying premiums under the SUD Life Family Income Benefit Rider – Traditional?
    Can the SUD Life Family Income Benefit Rider – Traditional be surrendered?
    Can the SUD Life Family Income Benefit Rider – Traditional be revived if it lapses?
    When does the SUD Life Family Income Benefit Rider – Traditional get terminated?

    The maximum sum assured is ₹50 lakh per policy, but it cannot exceed the sum assured of the base policy. Additionally, the total premiums for all non-health riders attached to the base policy must not exceed 30% of the base policy premium. The sum assured should also be in multiples of ₹1,000.

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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