SUD Suraksha Kavach Plan
SUD Suraksha Kavach Plan is a Participating Endowment Plan. It is a Traditional Plan with Bonus facility from Star Union Daiichi Life Insurance Company.
Key Features
There is 1 additional rider in this plan:
- Critical Illness Benefit
And 2 in-built riders:
- Double Accidental Death Benefit and
- Accidental Total and Permanent Disability
Benefits
How it works
Eligibility
Minimum | Maximum | |
Sum Assured (in Rs.) |
Rs 1 lac
|
Rs 10 lacs
For Non-Standard Age proof- Rs 3 lacs
For Housewives- Rs 1 lac
|
Policy Term (in years) | 10 | 25 |
Premium Payment Term (in years) | Equal to policy term | |
Entry Age of Life Insured (in years) | 18 | 50 |
Age at maturity (in Rs.) | 28 | 65 |
Payment modes | Yearly or Half-yearly |
FAQs
If the policy holder stops paying the premium, the policy lapses and all benefits cease to exist.
then the policy continues for 3 more years with full coverage. In case of the unfortunate death of the Life Assured during this period, the Sum Assured + Bonus (if any) will be paid. In case of accidental death or disability, the above mentioned Sum Assured will be paid along with Bonus and an additional Paid Up Sum Assured will be paid for Accidental Death or Disability Benefit with any deduction of premium.
However, once the premium payment is resumed, any amount will first be adjusted for the unpaid premiums starting from the first unpaid premium. After the adjustment of premiums, the life cover will be extended to a period of 3 years from the new first unpaid premium (if any, after the adjustment). If all unpaid premiums are paid in full, the policy continues as before.
If at least 3 years’ premiums have been paid, then the policy acquires a Paid Up Value. Paid-up sum assured = (Number of premiums paid / Total number of premiums payable at the commencement of the policy)* Base Sum Assured
There are Surrender Benefits after 3 years.
Minimum Guaranteed Surrender Benefit- 30% of all premiums paid – 1st year’s premium
Loan facility is available in this plan.