This New Year, SUD Life Century Gold Brings Flexible Premium Benefits and Accrued Maturity Returns with Guaranteed IRR
Key opportunity for the growing middle class, approx. 31% of India’s addressable insured population, can gain from this product to secure their family members
Mumbai 10 January, 2023: Star Union Dai-ichi Life Insurance (SUD Life) has introduced a new product – SUD Life Century Gold – to its existing product portfolio to offer a unique possibility for customers to decide their premium payment term and a very attractive guaranteed maturity benefit offering. Families and young parents with an annual household income of INR 5-30 Lakh should be able to have greater benefits and savings with this product. The growing middle class, which has more than doubled from 14% in 2004-05 to 31% in 2021, and is projected to rise to 63% by 2047, according to a survey by economic research outfit PRICE (People Research on India’s Consumer Economy, 2021) has a greater opportunity to avail this product.
SUD Life Century Gold is a non-linked, non-participating individual savings life insurance plan, which is designed to safeguard future savings with accrued guaranteed returns and life cover protection.
The plan comes with six distinct features:
Flexibility to choose between two plan options: Goal Sure & Edu Sure.
Guaranteed maturity benefit inclusive of accrued guaranteed additions payable at maturity.
Freedom to choose premium, premium payment term, and policy term.
Death Benefit paid in three parts - Sum assured on death, monthly income benefit, and lumpsum benefit.
Tax benefit on premium paid & maturity.
Provision of financial planning for key life stages - Child’s education, marriage, parenthood, etc.
“At SUD Life, our customers are our priority. We are committed to providing insurance products that serve our customers’ unique needs across various strata of society and geographies and that prides on our vision of “Protecting Families, Enriching Lives”, touching the lives of countless people. In addition to the products we offer, SUDs Life Century Gold is a golden opportunity that helps to provide flexible and short premium payment terms and accrued guaranteed maturity benefits. Managing one’s premium can introduce a culture of happiness and peace among our customers allowing short premium payment term but offering a long-term life coverage.” said Abhay Tewari, Managing Director & CEO, SUD Life Insurance.
SUD Life has one of India's largest life insurance distribution footprints with a robust collective network of over 17,000 bank branches catering to more than 10 million customers.
About Star Union Dai-ichi Life Insurance Co. Ltd.:
Star Union Dai-ichi Life Insurance, headquartered at Navi Mumbai, is a joint venture between two of India’s leading public sector banks, Bank of India and Union Bank of India, and Dai-ichi Life Japan, a leading life insurance company in Japan.
Having been selected as India’s Greatest Workplace - 2022-23, it only strengthens SUD Life’s drive to provide our stakeholders – our employees and customers – with happiness in everything that they do.