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SUD Life Retirement Royale

A Unit – Linked, Non-Participating, Individual Pension Plan

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.

Royalty continues even after -retirement

Now pay amount to secure your Retirement with our Pension Plan
You Give
For
You Get
@ 4% ---
OR
@ 8% ---
in
+

Key benefits of SUD Life Retirement Royale

3Return of Policy Administration Charges (RoPAC) at the end of Policy Term

Free 12 Fund switches per year^

4Tax Benefits as per prevailing tax norms

Guaranteed Additions from end of 6th Policy year, that increases after every 5 years in the Benefit Option – Growth Plus

Secure your retirement with Assured Guaranteed vesting benefit of 101% of the total premium paid7. Available only in benefit option – Secure plus

Why Choose SUD Life

21,613 Cr

Asset Under Management
as on Sep’23

1.26 Cr

Lives Covered
as on Sep’23

18,000+

Distribution Points
as on Sep’23

How does the plan work?

Benefit explained with Example:

Option : Growth Plus

Mr. Rohit has opted SUD Life - Retirement Royale (Option A- Growth Plus & chooses 100% allocation in Pension Equity Fund). The details are as below
Life Assured Age - 40 years
Premium Frequency - Yearly
Policy Term - 30 years
Premium Paying Term - 30 years
Annualised Premium - 5,00,000

Option : Secure Plus

Mr. Rohit has opted SUD Life - Retirement Royale (Option B- Secure Plus & chooses Aggressive Risk Preference). The details are as below
Life Assured Age - 40 years
Premium Frequency - Yearly
Policy Term - 30 years
Premium Paying Term - 30 years
Annualised Premium - 5,00,000
Note: These assumed rates of returns are not guaranteed, and they are not the upper or lower limits of what you might get back, as the value of the fund is dependent on a number of factors including future investment performance.
Note: These assumed rates of returns are not guaranteed, and they are not the upper or lower limits of what you might get back, as the value of the fund is dependent on a number of factors including future investment performance.

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Frequently asked questions

1.What is SUD Life Retirement Royale Plan

SUD Life Retirement Royale is an Unit Linked Pension that offers two Benefit options – Growth Plus and Secure Plus.

2.Can I change Benefit option anytime during the Policy Term?

No, the Policyholder must choose any one Benefit option at inception of the policy and once chosen it cannot be altered during the policy term.

3.What are the premium payment term available under this product?

This product offers Single Pay | Regular Pay | Limited Pay of 5 | 8 | 10 | 15 years.

4.What is the Minimum Annualized premium for Single Pay for Limited & Regular Pay

Minimum Annualized premium is 10,00,000 for Single Pay & 2,51,000 for Limited & Regular Pay

6.What are the Policy Term available under the product?

The Policyholder have option to choose Policy Term from minimum 10 Years to maximum policy term of 40 Years depending on the Premium Payment Term and Benefit Option Chosen.

7.What is the minimum and maximum vesting age?

Minimum vesting age is 45 years and Maximum is 80 years.

8.What are the Investment Strategies available under the two Plan Options?

The policyholders have the option to choose from below given Investment strategies:

Benefit Option Growth Plus -Either opt for Self – Managed Investment Strategy or Age based Investment Strategy can be chosen. These strategies can be switched during the tenure of the policy.

Benefit Option Secure Plus -Term-based Investment Strategy.

9.What is the Death Benefit payable under this plan?

In the event of death of the Life Assured during the Policy Term, the Company will pay death benefit which is higher of:-

Fund Value as on date of intimation of death of the Life Assured after addition of charges (if any)

OR

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.

10.How can the Nominee/ Beneficiary utilize the Death Benefit?

Withdraw the entire proceeds or commute as per the commutation options available. The nominee can also opt for settlement option.

11.What are the Vesting Benefit?

Plan Option Growth Plus -Fund Value at prevailing NAV + return of policy administration charges

Plan Option Secure Plus -Higher of Fund Value at prevailing NAV + return of policy administration charges OR 101% of Total Premiums paid.

The Policyholder will have to commute the vesting benefit as per his/ her choice.

12.How does the Commutation option work?

Death Benefit or Vesting Benefit or Surrender Benefit is to be utilized in the following manner: -

I) Entire proceeds to purchase immediate/ deferred annuity from SUD Life; or

II) Withdraw up to 60% and balance 40% to be utilized to purchase immediate/ deferred annuity from SUD Life at prevailing annuity rate (taking a new policy). Deferred/ Immediate Annuity can also be taken from other Insurers however the limit is 50% of the entire proceeds of the policy net of commutation.

13.Which are the immediate annuity products currently available for sale with SUD Life?

SUD Life has 2 Immediate Annuity Plans which are:

SUD Life Immediate Annuity Plus (UIN 142N048V05)

SUD Life Saral Pension (UIN 142N081V01)

14.What is settlement option in death benefit?

The Nominee/ Beneficiary can choose to receive death benefit payment in instalments at a chosen frequency of monthly/ quarterly/ half yearly/ annual mode, for a period of five years.

15.Are partial withdrawal available under the product?

Yes, only three partial withdrawals are allowed during the policy term for specific reasons. Partial withdrawals can be made after the completion of first 5 policy years subject to the limit of 25% of the fund value at the time of partial withdrawal.

16.When is the Return of Policy Administration Charges (RoPAC) applicable?

The total amount of policy administration charges deducted till the vesting date, will be added back as RoPAC to the Fund Value at the end of the Policy term.

17.Will the Policy Administration charges (RoPAC) be returned in case of Surrender?

No. RoPAC is not applicable in case of a Surrendered or Discontinued Policy during the lock-in period. RoPAC will be added if the Policy is Reduced Paid-up.

18.What is a Fund Switch and how many switches are allowed?

A fund switch allows you, the investor, to make changes to your investment allocation as part of your plan. Twelve (12) switches are allowed per policy year at free of cost. Every additional switch will be charged Rs. 100/- per switch. Switching is allowed only under Self-Managed Investment Strategy

19.When can the policy be revived?

You have an option to revive this policy by paying all unpaid premium/s at any time during the first three years from the date of first unpaid premium, subject to board approved underwriting guidelines.

20.What is a self-managed investment strategy?

This strategy enables Policyholder to choose the fund and invest their monies in any proportion in the chosen funds. 4 funds are available under the product.

21.What is age-based investment strategy?

Based on Policyholders risk preference (aggressive or conservative), the Company will distribute the investments between two funds, Pension Equity Plus Fund and Pension Gilt Plus Fund, based on the age of the policyholder. The risk preference can be switched during the policy term.

22.What is term-based investment strategy?

In Secure Plus plan option, based on Policyholders risk preference (aggressive or conservative), the Company will distribute the investments between two funds, Pension Growth Plus Fund and Pension Gilt Plus Fund in predetermined proportion. The risk preference can be switched during the policy term.

23.Can you surrender the Policy?

Yes. In case the policy is surrendered within the lock-in period, surrender value will be paid after completion of lock-in period. The fund value will be moved to discontinuance fund during the lock-in period.In case the policy is surrendered after the lock-in period, fund value will be paid to the policyholder. The policyholder will have to commute the surrender value as per the commutation option specified above.

24.Are top-up premiums allowed?

Yes, however your policy should be inforce. Minimum top-up premium is Rs. 5000.

25.What charges will be deducted under the Plan?

The following charges will be deducted - premium allocation charge, policy administration charge, fund management charge, surrender/ discontinuance charge, if applicable, switching charge, if applicable. Please refer to the sales brochure for more details.

26.How will the units be redeemed?

For requests received upto 3 pm, the closing NAV of the same business day will apply. For requests received after 3 pm, the closing NAV of the next business day will apply.

27.Can you change the Premium Payment Term under this plan?

Yes, you have option to increase or decrease the PPT provided all the due premiums on or before the expiry of grace period, till the date of such request have been paid. Increase/Decrease in Premium Payment Term must always be in multiples of one year.

28.Can you change Policy Term under this plan?

Yes, you can increase Policy term subject to the maximum Policy term allowed under the product. Decreasing the policy term is not allowed. Increase in policy term must be in multiples of one year.

29.Can you reduce Premium Amount?

Yes, Policyholder has an option to decrease the premium by a maximum of 50% of original annualized premium subject to the minimum premium limits allowed under the given product. This option is allowed only after the payment of premiums for first five completed policy years.