SUD Life Pension Plus

UIN: 142L093V02 | A Unit Linked Non-Participating Individual Pension plan

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. SUD Life Pension Plus is a unit linked non-participating individual retirement solution. This SUD Life pension plan provides insurance coverage and helps you grow your savings for retirement. This plan aids in building a good corpus by the time you retire. SUD Life Pension Plus plan also provides financial support to your family in case of your untimely demise and helps you grow your savings through diverse investment options. SUD Life Pension Plus is designed to support financial security and a steady income after retirement, subject to policy terms and market-linked performance. This SUD Life pension plan supports long-term financial planning.

Cost-effective plan with no allocation charges or policy administration charges
Accumulate more savings for the golden years of your life through top-up premium
Flexibility to increase your policy term and hence premium payment term
Two investment strategies to choose from
Partial withdrawals to support in critical phases of life
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What is SUD Life Pension Plus Plan?

SUD Life Pension Plus is a versatile plan that provides insurance coverage while systematically building your retirement corpus. SUD Life Pension Plus Plan links your investments to market performance, helping you earn potentially higher returns over time.

The plan offers different investment fund options so you can invest based on your risk appetite and financial goals. You can choose how long you want to pay premiums under the SUD Life Pension Plus Plan, allowing you to plan according to your financial situation.

Once the policy term ends, you can use the accumulated corpus to purchase an annuity (immediate or deferred) at prevailing rates, supporting a steady income during retirement.

SUD Life Pension Plus plan does not have any premium allocation, policy administration, or mortality charges, thus reducing the overall cost. If you are looking for a long-term investment plan that combines retirement savings and insurance protection, this SUD Life pension plan offers flexibility in choosing how and where to invest while helping you build a financial cushion for retirement.

Download Plan Related Documents

Product brochure (Prospectus)

Policy Presentation

Policy Document

CIS

How Does SUD Life Pension Plus Plan Work?

After selecting the SUD Life Pension Plus Plan, you must decide on the following: Policy term, Premium payment term, Investment strategy, Premium amount

1.Investment Strategies

There are 2 investment strategies to choose from: Self-Managed Investment Strategy and Age-Based Investment Strategy.

2.Self Managed Investment Strategy

In this strategy, you get a choice of five pension fund options. You can invest your premium in any of these funds based on your risk appetite and investment preference. You can also switch the fund choices at your discretion.

3.Age-Based Investment Strategy

At policy inception, based on the risk preference (aggressive or conservative) of the policyholder the investments are distributed between two funds, Pension Equity Plus Fund and Pension Gilt Plus Fund, based on the age. Policyholder has the option to switch the risk preference during the policy term.

4.Premium Allocation

The premium, net of applicable charges, is invested in the selected funds depending on the investment strategy that you choose. You can make switches or withdraw funds partially during the policy tenure if needed.

5.Survival Benefit

If the life insured happens to survive till the end of the policy term, they will receive the fund value based on the current NAV, provided the policy is active.

6.Vesting benefit

The Vesting benefit can be used in any of the following manner: Use the full amount to buy an immediate or deferred annuity from Star Union Dai-ichi Life Insurance at the prevailing rate. Withdraw up to 60% of the amount as a lump sum and use the remaining to purchase an annuity. Buy an annuity from another insurer as per IRDAI guidelines (currently up to 50% of the amount after commutation). If eligible, the policyholder can also extend the accumulation or deferment period beyond 60 years.

7.Death Benefit

In case the life insured passes away while the policy is active, the nominee will receive the higher of the following amounts: 105% of total premiums paid (including any top-up premiums) minus partial withdrawals made in the last two years OR The fund value on the date the death is reported. The nominee can choose to Withdraw the full amount as a lump sum. Use all or part of it to buy an immediate or deferred annuity, which provides regular income. If the amount is too low to meet the required annuity purchase limit, it will be paid as a lump sum. The nominee may also opt to receive the payout in instalments under the Settlement Option. Once the death benefit is paid, the policy ends immediately.

SUD Life Pension Plus Plan Benefits

Here are the benefits that you get from the plan

Death benefit

In case of an unfortunate event of death of the Life Assured while the policy is in-force, the Company will pay:
Higher of :

• Defined Benefit, that is 105% of total premiums paid including top-up premium paid less partial withdrawals made from base fund during two year period immediately preceding the death of the life assured.
OR
• Fund value as on the date of intimation of death of the Life Assured.
• The nominee or beneficiary can use the death benefit proceeds, as per the below mentioned options:
i. Withdraw the entire proceeds of the policy; Or
ii. To utilize the entire proceeds of the policy or part thereof for purchasing an immediate annuity or deferred annuity at the then prevailing annuity rate.

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 and the policy will terminate immediately.

Less or almost no extra charges

The charges associated with the policy are as follows:

Premium Allocation Charges: NIL
Policy Administration Charges: NIL
Fund Management Charges: Ranging between 0.5% to 1.35%
Switching Charges: NIL
Partial Withdrawal Charges: NIL
Mortality Charges: NIL
Premium Redirection Charges: NIL

Additionally, please be aware that surrender or discontinuance charges may apply, as well as any charges that may be levied by government or statutory authorities in the future.

Switching

Any amount of fund value can be switched out subject to a minimum amount of Rs.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.
• There will be no charges levied for switching

Partial Withdrawals

• Partial withdrawals are not allowed during the first 5 policy years
• Only three partial withdrawals are allowed during the policy term
• Partial withdrawals shall not exceed 25% of fund value at the time of partial withdrawal subject to general partial
withdrawal rules
• The units shall be redeemed at the prevailing unit price / NAV.
• Partial Withdrawals are not allowed during the settlement period after death.
• The Partial Withdrawal shall not be allowed which would result in termination of the policy contract.

Top-Up Premiums

• Top-up premium is allowed under this plan anytime during the policy term, provided the base plan is in force.
• Minimum Amount of Top-up premium is Rs. 5000
• Maximum Amount: Total Top-up premium paid during the policy term shall not exceed Total premium paid under
base plan.
• All Top-up premiums paid during the policy term shall have a life cover of 105% of top-up premium paid.
• Top-up premiums once paid can be partially withdrawn only after completion of five years from the date of
payment of each top-up.

Premium Redirection

The policyholder has 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 percentage under various
fund for future premium by giving notice in writing to SUD Life either at the time of payment of premium or prior to
the remittance of the future premiums.
• By default, new allocation percentage will be applicable to all future premiums.
• Redirection will not affect existing units.
• This facility is available at any point of time and is effective from the date a valid request is received by the
company.

Why choose SUD Life Pension Plus Plan?

SUD Life Pension Plus Plan is the ideal option for you because of the following points

It provides the dual benefit of safeguarding your family in case of your untimely demise as well as building a fortune for your post-retirement period.
It is a cost-effective plan with no charges for switching, partial withdrawals or premium redirection.
It comes with two investment strategies to choose from thus suitable for all types of investors.
It allows you to access a portion of your funds after five policy years to meet unforeseen expenses.
It enhances your retirement corpus by making additional premium payments at your convenience.
It allows you to save tax on premium payments as per tax laws.

Why Choose SUD Life?

1.55+ Cr Lives Covered

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

23,900+

Distribution Points across India

₹37,575 Cr

Assests Under Management

99.01% Claims Settlement Ratio

Individual Claims Settlement Ratio as on 31.03.2026

₹9,592 crore

Gross Premium till 31.03.2026

₹4,932 crore EV* (Dec '24)

*Indian Embedded Value ₹4,932 crore (Mar'26)

Testimonials

Know why customers buy Life Insurance from us

Best Insurance Claim Support Team

Choosing SUD Life Insurance was one of the best decisions I've made for my family's future. Their attentive team made the entire process seamless, ensuring I found the perfect plan tailored to my needs.

Ramprakash Shivram Yadav

Companies in India for Life Insurance Policy with a Wide Reach

Suresh Gajanan Patil

PMJJBY Claim

I have visit at Nanded Branch for pmjjby death claim documents submitted i very thankful mr.. akash sir my uncle Pmjjby death payment received at 3dyas.

Yash Thakur

And Many More.

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(+91) - 7208 867122

Email

customercare@sudlife.in

Toll-Free Number

1800 266 8833
Monday to Saturday
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Frequently asked questions (FAQs)

What are the fund options under the SUD Life Pension Plus Plan?

Can I make additional premium payments under the SUD Life Pension Plus plan?

Can I make partial withdrawals under the SUD Life Pension Plus plan?

Can the death benefit be received in instalments under the SUD Life Pension Plus plan?

What happens if I stop paying the premium?

What are the Fund Management Charges (FMC) under the SUD Life Pension Plus plan?

Are there any surrender or discontinuance charges under the SUD Life Pension Plus plan?

There are 5 fund options available: Pension Equity Plus Fund (SFIN: ULIF 030 08/09/23 SUD-PI-EQ2 142), Pension Growth Plus Fund (SFIN: ULIF 031 08/09/23 SUD-PI-GR2 142), Pension Balanced Plus Fund (SFIN: ULIF 032 08/09/23 SUD-PI-BL2 142), Pension Gilt Plus Fund (SFIN: ULIF 033 08/09/23 SUD-PI-GL2 142), SUD Life Nifty Alpha 50 Index Pension Fund(SFIN: ULIF 040 13/05/25 SUD-PI-ALP 142)

Yes, you can pay a Top-Up Premium anytime during the policy term, provided your base policy is active. The minimum top-up amount is ₹5,000, and the total top-ups cannot exceed the total premiums paid under the base plan. Top-ups come with a 105% life cover and can be partially withdrawn after five years. However, top-ups cannot be made in the last policy year and are surrendered along with the base policy if applicable.

Yes, partial withdrawals are allowed, but only for specific reasons such as higher education or marriage of children, home purchase, medical emergencies, disability expenses, skill development, or starting a business. The minimum withdrawal amount is ₹5,000, and the remaining fund value must be at least 105% of the total premiums paid. Withdrawals are first made from top-up premiums, if available. However, they are not allowed during the settlement period after death or if it would cause the policy to terminate.

Yes, the beneficiary can opt to receive the death benefit in instalments over a period of up to five years instead of a lump sum. Payments can be made yearly, half-yearly, quarterly, or monthly. During this period, fund management and switching charges will apply, but partial withdrawals are not allowed. However, the beneficiary can withdraw the entire amount at any time without any extra charges.

The policy shall lapse on non-payment of premiums. If this happens within the five-year lock-in period, the fund value will be moved to a discontinued policy fund after the deduction of the discontinuation charges. It will stay there until you revive the policy or until benefits become payable. However, if premiums are discontinued after the lock-in period, the policy will remain active as a paid-up policy, and the fund value will stay invested.

The Fund Management Charges (FMC) vary based on the chosen fund. They are deducted daily and impact the Net Asset Value (NAV). Charges range from 1.35% per annum for equity and growth funds to 0.50% per annum for the Discontinuance Fund.

Yes, surrender or discontinuance charges apply for the first four policy years and depend on the annual premium (AP) or fund value (FV). These charges reduce each year and become zero from the fifth year onwards.