Known as the SUD Life Assured Income Plan, the new policy is suited for customers looking for tax free supplementary income while ensuring a strong financial protection for the family in case of an unforeseen event.
SUD Life Insurance MD and CEO Girish Kulkarni 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."
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The new plan will offer a guaranteed supplementary annual income for meeting lifestyle needs or retirement needs, to serve the varied financial goals of customers of various age groups.
Under the plan, the policyholder will get back all the premiums invested upon maturity.
It will offer customers the option to select from the premium payment term, the deferment term, the payout period and the quantum of guaranteed annual payout according to individual requirements.
In case of the policyholder’s death, Sum Life Assured Income Plan will protect the policyholder’s family by offering a death sum assured payable immediately, additional annual payout to look after immediate loss of regular income, and scheduled annual payout.
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