SUD Life Group Employee Benefit Plus Plan

UIN - 142N090V01 | Non-Linked Non-Participating Group Saving Insurance Plan

SUD Life Group Employee Benefit Plus is a Non-Linked Non-Participating yearly renewable group savings insurance product, which is especially designed to cater to the needs of employers who want to fund group member’s retirement benefits (Defined Benefit Liabilities only) such as Group Gratuity, Leave Encashment, Superannuation, and Post-Retirement Medical Benefit.

Experienced and Professional Fund Management
Flexible, Transparent and Value for money plan
Dedicated service team
Enjoy tax benefits for added financial efficiency.

Buy SUD Life Group Employee Benefit Plus Plan

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What is SUD Life Group Employee Benefit Plus Plan?

Q: What are the charges under this Policy?

Mortality charges: Mortality charge of ₹1 per 1000 sum assured per annum per member will be deducted from Policy Account Value at the start of risk commencement date. Allocation Charges: For Individual Agents, Corporate Agents, Brokers - it will be as per Board Approved Commission Policy. For Direct Marketing, there shall be no allocation charges. Surrender Charge: The Master Policy can be surrendered any time by serving one month notice. The amount payable on surrender will be the Policy Account Value less the applicable surrender penalty less Market Value Adjustment, if any.

Q: What if you realize this is not the right plan for you?

A period of 30 days is available to the Master Policyholder from the date of the receipt of the master policy document to review the terms and conditions of the policy. In case the Master Policyholder disagrees to any of those terms or conditions, he/she has the option to return the master policy stating the reasons for his/her objection. The Insured Member shall then be entitled to a refund of the amount equal to: • Contribution • Less stamp duty charges • Less proportionate risk charge, if any for the period of life cover.

SUD Life Group Employee Benefit Plus is a Non-Linked Non-Participating yearly renewable group savings insurance product, which is especially designed to cater to the needs of employers who want to fund group member’s retirement benefits such as Group Gratuity, Leave Encashment, Superannuation, Post-Retirement Medical liabilities.

Download Plan Related Documents

Product brochure (Prospectus)

Policy Document

Policy Presentation

How Does SUD Life Group Employee Benefit Plus Plan Work?

Only the Employer or their Trust can be the Master Policyholder.

1.Contribution

The employer/their Trust can opt for Group Gratuity, Leave Encashment, Superannuation or Post-Retirement Medical liabilities. The regular contribution required for the chosen scheme will be determined as per Scheme rules.

2.Life Cover

A uniform life cover of ₹10,000 per member will be provided for all benefits other than Superannuation. A charge of ₹1 per 1000 sum assured per member per annum will be deducted from the Policy Account Value at the start of risk commencement date.

3.Benefit

A Guaranteed interest rate (minimum floor rate) of 0.10% per annum plus non-negative additional interest rate (if any) will be declared at the end of each financial year and will be credited on the Policy Account Value at the end of financial year on a pro-rata basis to determine the total investment income accruing to the policy account for the financial year.

4.Charges

Allocation Charges and Mortality Charges will be deducted from the fund as mentioned under section “Charges” mentioned in the Policy Brochure.

SUD Life Group Employee Benefit Plus Plan Benefits

Here are the benefits that you get from the plan

Death Benefit

Retirement/ Early retirement/ Termination/ Resignation and other events

Post-Retirement Medical Benefit

Why choose SUD Life Group Employee Benefit Plus Plan?

SUD Life Group Employee Benefit Plus Plan Plan is the ideal option for you because of the following points

Manage your member’s liabilities through a flexible, transparent and value for money plan
Looking for high investment returns.
Designed to cater to the needs of employers who want to fund group member’s retirement benefits such as Group Gratuity, Leave Encashment, Superannuation, Post-Retirement Medical liabilities.

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..

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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

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7208867122

Email

digital@sudlife.in

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Frequently asked questions (FAQs)

What is Bulk Exit?

What are the charges under this Policy?

What if you realize this is not the right plan for you?

If the total amount on exit, due to any event including complete policy surrender, as defined in the scheme rules, in a policy year (including the current exit amount) exceeds 25% of the Policy Account Value as at the beginning of that policy year, such an exit shall be termed as a bulk exit. Market Value Adjustment (MVA) may be applicable only to the amount which is over & above the amount representing bulk exit and surrender charge