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SUD Life AADARSH is a limited premium Non-Linked, Non-Participating Endowment Life Insurance Plan that provides you benefits of savings and life cover under a single plan to offer financial security to your loved ones.This plan offers a Guaranteed Maturity Benefit with a short premium paying term and enhance your policy coverage with an inbuilt additional accidental death benefit.BUY NOW
The death benefit is payable if the life insured dies during the term of the policy provided the policy is premium paying.The death benefit payable to the nominee is equal to the death sum assured under the policy.Death Sum Assured is defined as the higher of 10 times the Annualized Premium OR 105% of all the premiums paid as on date of death of the Life Assured, OR Guaranteed Maturity Benefit (i.e. Basic Sum Assured), OR Absolute amount assured to be paid on death (i.e. Basic Sum Assured).
In the event of Accidental Death, the nominee will receive the benefit equal to twice the Death Sum Assured will be paid as a lump sum to the Nominee and the policy terminates.
On survival of the Life Assured till the end of the Policy Term, life insured will get Guaranteed Maturity Benefit which is equal to the Basic Sum Assured.
No bonus is payable under this plan.
The loan can be availed for up to 70% of the Surrender Value at the applicable interest rate levied.
The Surrender Value payable will be higher of “Guaranteed Surrender Value (GSV)” and “Special Surrender Value (SSV)”.
Plan offers tax benefits under section 80C and section 10 (10D) of the Income Tax Act,1961.
|Age (as on last birthday)||8 Years||55 Years|
|Age at Maturity||-||65 Years|
|Policy Tenure||10 Years (fixed)||-|
|Premium Paying Term||Limited Pay- 5 Pay (Fixed)||-|
|Premium Paying Mode||Annually,Semi Annually,Quarterly And Monthly||-|
|Sum Assured||Rs 50,000/ Rs 3 Lacs||Rs 5 Lacs|
|Freelook Period||15 Days/ 30 Days (for Distance Marketing Channel) From The Receipt Of The Policy||-|
|Grace Period||30 Days & 15 Days (for Monthly Mode)||-|
Inbuilt Accidental death benefit rider is there in the plan but no additional riders are available with this plan.
To understand the benefits, let us illustrate Mr. Sanjay’s case who is age 35 years healthy male and wants a short term investment plan which also enhances his life cover. Hence, Mr. Sanjay opts for SUD Life AADARSH with a Basic Sum Assured of ` 3 Lacs and pays ` 46,741 p.a. for 5 years, policy term 10 years.