SUD Life Bright Child Plan

• Assured child benefits
• Career Endowment or Wedding Endowment plan options
• Enjoy benefit booster
• Ensures secured child’s future
• High sum assured rebate
• Limited premium payment term
• Riders to enhance protection
• Tax benefits

Child Benefit

It is payable irrespective of whether you are alive or not.

For Career Endowment Option,

• When the child is at 18 years, 50% of basic sum assured is payable.
• At 21 years, 20% of basic sum assured is payable.
• At 24 years, 30% along with Benefit Booster.

For Wedding Endowment Option,

• When the child is at 18 years, 20% of basic sum assured is payable.
• At 21 years, 30% of basic sum assured is payable.
• At 24 years, 50% along with Benefit Booster.

Benefit Booster

Benefit Booster is an amount paid at the end of the policy term and it depends on the age of child at the time of buying the policy. It is 15%/10%/1% for 0 to 1/2 to 6/7 to 8 years age of child at entry for career endowment option. It is 25%/20%/10% for 0 to 1/2 to 6/7 to 8 years age of child at entry for wedding endowment option. Benefit Booster is a percentage of Basic Sum Assured.

Death Benefit

In the event of unfortunate death of the life insured during the policy term, the death benefit is payable immediately to the nominee. All future premiums are waived. The Child Benefits will remain intact and will be payable, depending on the plan option chosen.

Death benefit is higher of 10 times the Annual Premium, 105% of all the premium paid, Guaranteed Maturity Benefit or absolute amount assured to be paid on death (Basic Sum Assured).

In case of unfortunate death of the child beneficiary after the death of the life insured, the following benefits are payable:

• If the beneficiary dies before commencement of the child benefits, the discounted value of all future benefits, discounted at 8% p.a., is payable to the legal heirs and the contract gets terminated immediately.
• If the beneficiary dies after the commencement of the child benefits, the discounted value of all outstanding benefits, discounted at 8% p.a., is payable to the legal heirs and the contract gets terminated immediately.

Bonus

No bonus is payable under this policy.

Loan Benefit

No loan benefit can be availed under this policy.

Surrender Value

The Surrender Value payable is higher of Special Surrender Value or Guaranteed Surrender Value. The Surrender Value can be acquired on payment of at least 3 full policy years premium.

Tax Benefit

You can avail tax benefits under section 80C & 10 (10D) of the Income Tax Act. Tax benefits are applicable, as per the prevailing tax laws.

Following riders can be opted, on payment of additional rider premium.

• SUD Life Accidental Death and Total & Permanent Disability Benefit Rider – Traditional
• SUD Life Family Income Benefit Rider – Traditional

Mr. Amit aged at 30 years, opts to buy SUD Life Bright Child (Plan Option - Wedding Endowment) to secure his daughter’s future. He buys this plan with ‘Premium payment up to child age 18’, annual premium of Rs 41,320 and the basic sum assured is Rs 10,00,000.

Scenario A: Child Benefit

Irrespective of Mr. Amit is alive or not, child benefits are payable as under.

• Rs 2 Lacs, when Aditi is 18 years old, to fund her college education
• Rs 3 Lacs, when Aditi is 21 years old, to fund her post-graduation course
• Rs 7.5 Lacs, when Aditi is 24 years old, to fund her dream wedding

Scenario B: Mr. Amit dies during the Term of the Policy

In the event of unfortunate death of Mr. Amit during the policy term, Rs 10,00,000 is payable, all future premiums are waived and his child receives the ‘Child Benefit and Benefit Booster’, as scheduled.