How much Premium Allocation Charge is deducted under the SUD Life Wealth Creator Plan?

The Premium Allocation Charge is 10% of the annualised premium in the first policy year, 4% from the 2nd to the 5th policy year, and nil after the 5th policy year.

What are the limits for switching and partial withdrawals under the plan?

The minimum amount for both fund switching and partial withdrawals is ₹5,000. After a partial withdrawal, the remaining fund value must be at least 105% of total premiums paid. For switching, at least 10% allocation must remain in each selected fund, with no maximum limit.

SUD Life Wealth Creator

UIN: 142L077V01 | An Individual Unit-Linked Non-Participating Life Insurance Plan

SUD Life Wealth Creator is a unit-linked, non-participating life insurance plan that combines life protection with the flexibility to grow your savings based on your changing investment preferences. SUD Life Wealth Creator is a unit-linked insurance plan designed to provide financial growth through market-linked investments while offering life insurance coverage to protect against untimely loss. SUD Life Wealth Creator is a perfect choice, offering full flexibility to manage your investments, financial security in your absence, and promising growth potential through market-driven returns. * Extra allocation of 1% of one annualized premium from 11th policy year will be added to the fund(s) with each premium paid within grace period. This benefit is not applicable if premium is paid after the grace period. #Applicable only in case of policy maturity. Benefit is applicable for in-force policies.

Tailored investment strategies with diverse fund selections.
Benefit from an extra 1% fund allocation.
Flexibility to adjust the premium payment term.
Options for fund switching and making partial withdrawals.
Mortality charges returned on maturity.

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What is SUD Life Wealth Creator Plan?

Q: Which funds are covered under the SUD Life Wealth Creator Plan?

The plan offers multiple fund options including Blue Chip Equity Fund, Growth Plus Fund, Balanced Plus Fund, Mid Cap Fund, Income Fund, Gilt Fund, Viksit Bharat Fund, New India Leaders Fund, SUD Life Midcap Momentum Index Fund, Dynamic Fund, Money Market Fund, SUD Life Nifty Alpha 50 Index Fund, and a Discontinued Policies Fund.

Q: What are the Policy Administration Charges under the SUD Life Wealth Creator Plan?

The Policy Administration Charge is 1.2% of the annualised premium, increasing at 5% per annum from the second policy year, capped at ₹6,000 per year, and deducted monthly.

Q: What happens if I stop paying the premium?

If premiums are not paid within the grace period, the policy enters discontinuance status and the fund value moves to a discontinued policy fund without risk cover. During the lock-in period, the policyholder may revive the policy; otherwise, proceeds are paid after the lock-in. After the lock-in period, the policy continues as paid-up with the fund remaining invested.

SUD Life Wealth Creator plan is a unit-linked insurance plan designed to provide a balance of life protection and investment growth. It enables policyholders to build their financial corpus by investing in market-linked instruments tailored to their risk preferences. The plan offers flexibility with various fund options and strategies to align with changing financial goals and market conditions.This plan caters to individuals seeking long-term wealth accumulation while ensuring their loved ones are financially protected in case of unforeseen circumstances. With features such as fund switch, premium payment flexibility, and partial withdrawals, it allows policyholders to adapt their strategy as their priorities evolve over time. From the 11th policy year, SUD Life Wealth Creator allocates an extra 1% of premiums to the fund, boosting growth while also returning the mortality charges paid throughout the policy term if the life assured survives, enhancing the overall value of the plan. The plan aims to strike a balance between risk and returns while offering robust insurance coverage, making it an excellent choice for individuals looking to combine financial security with wealth-building opportunities

Download Plan Related Documents

Product brochure (Prospectus)

Policy Presentation

Policy Document

Product CIS

How Does SUD Life Wealth Creator Plan Work?

Once you purchase the SUD Life Wealth Creator plan, you choose the following options: Policy Term, Premium payment term, Investment Strategy, Premium amount, Premium payment frequency. The sum assured is 10 times the annualised premium paid. When choosing an investment approach for your premium, you can select from two investment strategies: Self-Managed and Age-Based.

1.Self-Managed Investment Strategy

This option gives you complete control over your investments with a selection of eight different funds. You can pick the funds that align with your personal risk tolerance and investment goals and have the flexibility to switch between them whenever you choose.

2.Age-Based Investment Strategy

With this strategy, you select whether you want to be more aggressive or conservative with your investments. Based on your chosen risk level, your premium is allocated to two funds: the Blue Chip Equity Fund and the Gilt Fund. As you get older, the allocation gradually shifts from the equity-focused Blue Chip fund to the more stable Gilt Fund, helping reduce potential risks and protect your returns from market volatility.

3.Premium

The premiums you pay, after deducting applicable charges, are invested in the selected funds based on your chosen investment strategy. During the policy period, you have the flexibility to switch between funds or make partial withdrawals when necessary. Starting from the 11th policy year, an additional 1% of the annualized premium will be credited to the fund for each premium paid within the grace period.

4.Death Benefit

If the insured person passes away during the policy, the death benefit will be the highest of the following: Sum assured under the base plan, minus relevant partial withdrawals made within the last two years. Fund value under the base plan on the date of intimation of the life assured's death. 105% of the total base premiums paid. #The Sum Assured shall be reduced to the extent of the partial withdrawals made during the two-year period immediately preceding the death of the life assured. The nominee has the option to receive the death benefit in instalments through the Settlement Option.

5.Survival Benefit

If the life insured survives the policy term and the policy is inforce, the accumulated fund value is paid as the maturity benefit. Also, the total mortality charges deducted during the policy term will be returned as Return of Mortality Charges (RoMC).

SUD Life Wealth Creator Plan Benefits

Here are the benefits that you get from the plan

Death benefit

Maturity Benefit

Return of Mortality Charges

Why choose SUD Life Wealth Creator Plan?

SUD Life Wealth Creator Plan is the ideal option for you because of the following points

Nominees can opt to receive the death benefit in instalments, providing financial security over time.
Flexible choice of Investment strategy makes it easy for any individual to easily understand and apply for the plan.
Extra premium allocation helps to boost the growth of your fund value, especially in the later years of the policy.
Enjoy tax benefits on premiums paid under Section 80C of the Income Tax Act and maturity benefits under Section 10(10D)
The features of fund switch, partial withdrawals and premium redirection provide a comprehensive solution for long-term growth, flexibility, and peace of mind.

Frequently asked questions (FAQs)

Which 12 funds are covered under the SUD Life Wealth Creator Plan?

How much Premium Allocation charge is deducted from the fund under SUD Life Wealth Creator Plan?

What are the Policy Administration Charges under the SUD Life Wealth Creator Plan?

What are the limits for switch and partial withdrawals under the SUD Life Wealth Creator Plan?

What happens if I stop paying the premium?

Blue Chip Equity Fund (SFIN: ULIF 019 11/12/13 SUD-LI-EQ2 142)
Growth Plus Fund (SFIN: ULIF 023 11/12/13 SUD-LI-GR2 142)
Balanced Plus Fund (SFIN: ULIF 024 11/12/13 SUD-LI-BL2 142)
Mid Cap Fund (SFIN: ULIF 026 14/10/19 SUD-LI-MID 142)
Income Fund (SFIN: ULIF 020 11/12/13 SUD-LI-BN2 142)
Gilt Fund (SFIN: ULIF 027 14/10/19 SUD-LI-GLT 142)
Viksit Bharat Fund (SFIN : ULIF 039 28/10/24 SUD-LI-VB1 142)
New India Leaders Fund (SFIN : ULIF 038 28/10/24 SUD-LI-NL1 142)
SUD Life Midcap Momentum Index Fund (SFIN : ULIF 034 27/12/24 SUD-LI-NMM 142)
Dynamic Fund (SFIN: ULIF 028 11/06/21 SUD-LI-DYN 142)
Money Market Fund (SFIN: ULIF 029 11/06/21 SUD-LI-MMF 142)
SUD Life Nifty Alpha 50 Index Fund (SFIN : ULIF 041 26/07/25 SUD-LI-ALP 142)
Discontinued Policies Fund (SFIN: ULIF 018 03/06/11 SUD-UL-DP1 142)

Under the SUD Life Wealth Creator Plan, the Premium Allocation Charge is deducted from each premium payment based on the policy year. In the first policy year, the charge is 10% of the annualized premium. From the 2nd to the 5th policy year, the charge is reduced to 4%. After the 5th policy year, no Premium Allocation Charge is levied

The Policy Administration Charge is 1.2% of the annualized premium, inflating @ 5% per annum from 2nd policy year. The maximum charge is capped at ₹6,000 per year and is deducted monthly by cancelling units at the prevailing rates

For partial withdrawals, the minimum amount is ₹5,000, and the maximum is the fund value minus 105% of the total premiums paid. After a partial withdrawal, the remaining fund value must be greater than or equal to 105% of the total premiums paid to date. For fund switches, the minimum value is ₹5,000, and at least 10% of the fund allocation must remain in each selected fund. There is no maximum limit, and you can switch your entire allocation between funds without any restrictions

If premiums are not paid within the 30-day grace period, the policy enters discontinuance status, and the fund value is transferred to a discontinued policy fund with no risk cover. If the policy is discontinued within the lock in period (first 5 years), The policyholder has three months to decide to revive the policy, and if opted but not revived within three years, it stays in the discontinuance fund, with proceeds paid (after deducting applicable charges) after the end of lock-in period or revival period, whichever is later. If the policyholder chooses not to revive, the policy is terminated at the end of the lock-in period and the proceeds are paid (after deducting applicable charges). However, if you stop paying premiums after the lock-in period, the policy will continue as a paid-up policy, and the fund value will remain invested without any new premium payments