Star Union Dai-ichi Life Insurance launches 'SUD Life Assured Income Plan'
New Delhi, May 19 : Star Union Dai-ichi Life Insurance Company Limited (SUD Life) announced the launch of 'SUD Life Assured Income Plan'-non-linked non-participating Guaranteed Return Endowment Assurance Plan which offers customers the best of both the worlds.
It especially caters to the diverse financial goals of customers belonging to different age groups through a guaranteed supplementary annual income towards meeting the lifestyle needs or retirement needs.
In addition, the policyholder gets back all the premiums invested, on maturity.
In case of an unfortunate demise of the policy holder, his family will be protected in three different ways
a) Death Sum Assured A lump sum benefit paid immediately
b) Additional annual payout - To take care of immediate loss of regular income. This is payable every year starting from the policy anniversary immediately after death, till the beginning of the Scheduled annual payout chosen at the outset
c) Scheduled annual payout Pre decided fixed annual payout of either 10, 15, 20 or 25 years as chosen at the inception of the policy.
SUD Life Assured Income Plan allows customers to choose the premium payment term, the deferment term, the payout period and the quantum of guaranteed annual payout as per individual needs.
The guaranteed payouts act as an additional income which begins at the end of premium payment term and deferment term. The plan provides two options in premium payment term 10 15 years and four options in payout period 10, 15, 20 and 25 years. The policy holder can also opt for zero or five years of deferment period.
Speaking on the occasion, Girish Kulkarni, MD CEO, SUD Life Insurance said, We have always believed in offering Insurance solution keeping policy-holders interest and need as priority. SUD Life Assured Income Plan is designed and can be customized in a way that the policy-holder can meet his specific needs including retirement expenses etc.
Star Union Dai-ichi Life Insurance Co. Ltd. (SUD Life) is a joint venture (JV) of Bank of India, Union Bank of India and Dai-ichi Life, a leading life insurance company of Japan.