Retirement/Pension plans help individuals plan a financially secure future for themselves and their dependents. In most cases, retirement plans provide a regular stream of income to help individuals manage expenses. Also, it helps family members stabilise their lives when the life assured passes away.
Star Union Dai-ichi offers three retirement/pension plans with varying features and benefits that aid individuals to save and provide for themselves during the post-retirement period.
Listed below are the three retirement/pension plans offered by the company:
This is a non-linked immediate plan that provides a steady stream of income based on which of the two plan options the policyholder chooses.
While the minimum purchase price of the plan is Rs.1 lakh, there is no maximum limit.
Benefits and features of SUD Life Immediate Annuity Plus
|Plan name||Entry age||Maturity age||Annuity amount|
|SUD Life Immediate Annuity Plus||Minimum: Differs based on plan option Maximum: 99 years||-NA-||Minimum: Varies based on the annuity payment mode and whether the individual is a SUD Life Pension plan policyholder or not Maximum: No limit|
This is a non-linked deferred pension plan that helps an individual plan his/her future. The lump-sum payouts provided during retirement will help the individual manage planned or unplanned expenses incurred.
Benefits and features of SUD Life Guaranteed Pension Plan
|Plan name||Entry age||Vesting age||Premium|
|SUD Life Guaranteed Pension Plan||Minimum: Varies based on the policy term Maximum: 65 years||Minimum: 55 years Maximum: 70 years||Minimum: Varies based on premium paying term Maximum: Rs.5 crore|
This is an endowment plan that pays a lump-sum as well as a regular payout in case of the demise of the life assured. It provides tax-free annual income and returns premiums at the end of the policy.
Benefits and features of SUD Life Assured Income Plan
|Plan name||Entry age||Maturity age||Premium|
|SUD Life Assured Income Plan||Minimum: 8 years Maximum: 55 years||Maximum: 75 years||The premium payable depends on factors such as policy term, sum assured, premium payment term, etc.|
Star Union Life Insurance is an amalgamation of Bank of India, Union Bank, and Dai-ichi Life. It is one of the leading life insurance companies that provides excellent customer service and has won awards in many categories. It presents many different plan types under various categories for individuals and groups. The company hosts many online features such as premium calculator, premium payment channel, human life value calculator, etc.
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