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SUD Life Aadarsh Plan

What is the Plan all About?

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.

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What are the Key Features?

  • Guaranteed Maturity Benefit
  • Enhances coverage with inbuilt  accidental death benefit rider
  • Offers limited pay for 5 years and policy coverage for 10 years
  • Income Tax rebate u/s 80C and 10(10D) of Income tax Act, 1961

What are the Plan Benefits?

Death Benefit

    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.

Maturity Benefit

    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.

Bonus

    No bonus is payable under this plan.

Loan Benefit

    The loan can be availed for up to 70% of the Surrender Value at the applicable interest rate levied.

Surrender Value

    The Surrender Value payable will be higher of “Guaranteed Surrender Value (GSV)” and “Special Surrender Value (SSV)”.

Tax Benefit

    Plan offers tax benefits under section 80C  and section 10 (10D) of the Income Tax Act,1961.

Who can Buy the Plan?

Factor Minimum Maximum
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 -
Premium Amount - -
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) -
Plan Type Offline -

Is any Rider Available with this Plan?

Inbuilt Accidental death benefit rider is there in the plan but no additional riders are available with this plan.

How the Plan Works?

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.

SUD Life AADARSH Plan