SUD Life Samriddhi Plan

The SUD Life Samriddhi is a savings plan that targets people who desire to build long-term financial stability while providing some form of protection for their family. It is a combination of guaranteed additions and bonuses that will help you increase your savings over the long term and provide life insurance coverage during the policy term. An inbuilt benefit of accidental death is also provided in the plan, which also generates an additional protection without the need for a separate accidental death rider.

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Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Eligibility Criteria for the SUD Life Samriddhi Plan

Criteria Minimum Maximum
Entry Age 8 years 55 years
Maturity Age 70 years
Policy Term 15 years 25 years
Premium Payment Term 10 years 15 years
Sum Assured ₹3 lakh ₹1 crore
Premium Payment Modes Monthly, Quarterly, Half-Yearly, Yearly
Eligible Individuals Residents of India

Features of the SUD Life Samriddhi Plan

The SUD Life Samriddhi Plan combines guaranteed savings with life protection and offers the potential for bonus-based growth. Key features of the plan include:

  • Guaranteed Additions: Provides additions at a rate of 3% of the basic sum assured for the first three policy years, helping to build the fund value early in the policy term.
  • Bonus Benefits: Eligible for simple reversionary bonuses from the fourth policy year onwards, depending on the insurer’s performance.
  • Terminal Bonus: May be payable at maturity or in the event of a claim, subject to declaration by the insurer.
  • Life Cover Protection: Offers life insurance coverage throughout the policy term, ensuring financial security for your family.
  • In-built Accidental Death Benefit: Includes an additional payout in case of accidental death, enhancing overall protection.
  • Flexible Policy Terms: Allows you to choose the policy term and premium payment duration based on your financial goals and convenience.

You may also explore Star Union Dai-ichi investment plans to compare benefits and find one that better fits your financial goals.

Benefits of the SUD Life Samriddhi Plan

The SUD Life Samriddhi Plan offers savings and protection provisions, making it suitable for long-term financial planning.

  • Maturity Benefit: At the end of the policy term, on successful survival, you are guaranteed the basic sum assured and the guaranteed quantity of additions, bonuses, and terminal bonus (unless it is declared otherwise).
  • Death Benefit: The nominee receives the death sum assured and any accrued benefits upon the insured's death during the policy term. The benefit given in case of death is 105 per cent of the paid premiums.
  • Accidental Death Benefit: An accidental Death benefit is issued when death occurs due to an accident, and thus an additional amount that is paid is the amount of the sum assured on the death.
  • Savings Growth: The policy is assured of Bonuses and additions that enhance its long-term value.
  • Tax Benefits: Premiums paid may qualify for tax benefits, while the benefits received could also be eligible for tax advantages, subject to prevailing tax laws.

Riders Under the SUD Life Samriddhi Plan

The SUD Life Samriddhi Plan offers optional riders to enhance coverage:

  • SUD Life Family Income Benefit Rider Traditional: It is a permanent plan that provides a monthly income to the nominee upon the death of the life assured for a specified period.

Policy Details of the SUD Life Samriddhi Plan

Understanding policy terms can help you manage your SUD Life Samriddhi Plan effectively.

  1. Grace Period

    A 30-day grace period (15 days in the monthly mode) will be given to pay overdue premiums and remain attached to the policy.

  2. Revival

    A lapsed or reduced paid-up policy can be revived within 5 years by paying the outstanding premium and interest.

  3. Free Look Period

    You have 30 days to review the policy document and return it if you are dissatisfied with the terms.

  4. Surrender

    This is the surrender of the policy upon payment of the minimum required premiums. The surrender value will be paid in accordance with the policy's terms.

  5. Loan

    It is possible to take a loan of up to 55% of the surrender value after a policy gains surrender value.

If you are exploring similar options, you can also check other investment plans that offer a mix of savings and life cover.

Exclusions Under the SUD Life Samriddhi Plan

  • Suicidal Cover: In case the life assured dies by suicide within the 12 months after policy commencement or revival, the nominee will still get benefits according to the policy.
  • Total Permanent Disability (TPD): This benefit is not available under the base plan but may be available through additional riders.

FAQs

  • 1. Is it possible to select my premium payment in the SUD Life Samriddhi Plan?

    Yes, the plan has multiple modes of premium payment, e.g. monthly, quarterly, half-yearly and yearly payment, whereby you get to choose depending on your income flow.
  • 2. What would become of me if I do not pay my premium?

    In case of a missed premium payment, you are offered a grace period during which you can pay without losing coverage. Failure to pay during this time would result in the policy lapsing or the benefit being reduced, as stipulated.
  • 3. Does the SUD Life Samriddhi Plan offer any bonus benefits?

    Yes, the plan may provide simple reversionary bonuses and terminal bonuses, depending on the company’s performance, which help increase the overall payout.
  • 4. Is it possible to surrender the policy in case of maturity?

    Yes, you may give up the policy upon fulfilling the minimum premium payment obligation. The surrender value will be paid in accordance with the policy's terms and conditions.
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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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