Features of SUD Life Bright Child

As a parent, the main priority in your life must be your young ones. As a rational parent it is necessary that you effectively plan for their future by making sure that you make best use out of your hard earned savings and thus protect their financial future. SUD Life Bright Child ensures that your corpus gradually maximises while you can actively access it in times that you need it most. The plan is structured in a way that makes sure that there are no shortcomings when it comes to funding the higher education and wedding of your children. Moreover,  in case of the unfortunate event of your death, your loved ones will be covered for the full sum assured and also all future premiums will be waived to reduce the burden on your family. 

Features of SUD Life Bright Child

The best features inherited by SUD Life Bright Child are as follows- 

• Flexibility

  The plan provides the option to choose between two funding options namely Career Endowment and Wedding Endowment.

• Child Benefits

  No matter you are around or not, your child is entitled to receive the child benefits which will depend on the plan option that you choose at the inception of the policy. 

• Benefit Booster

  Benefit Booster are meant to be paid at the end of the policy term. The amount payable depends on the age of your child at the time of inception of the policy and also on the plan option that you have opted. 

You may also like to read:- Types of Term Insurance Plans

• Premium Payment Mode

  The premium can be paid in annual, half yearly, quarterly or monthly modes (for Monthly Mode, via ECS/SI only).

• High Sum Assured Rebate

  The plan offers rebates for the policies having sum assured more than INR 6 Lakhs. 

• Rider Options

  The plan provides 2 rider options to its policyholders namely SUD Life Accidental Death and Total & Permanent Disability Benefit Rider and SUD Life Family Income Benefit Rider. 

• Reduced Paid-up Insurance

  The policy acquires a reduced paid-up status if you are not able to pay at least 3 full years' premiums. 

• Policy Surrender

  The policyholder is allowed to surrender the policy under certain circumstances as mentioned by the company.

• Policy Revival/Reinstatement

  If case for a revival/reinstatement request within two years from the date of first unpaid premium, you are allowed to revive your lapsed policy or reinstate your reduced paid-up policy.

• Tax Benefit

  Tax benefits can be availed as per the extant tax laws i.e tax deductions on the premiums paid and benefits received .

• Grace Period

  The grace period is the time period of 15 days from the date of the unpaid premium in case of monthly mode and 30 days for annual, half-yearly and quarterly modes.

• Free Look Period

  The free look period is 15 days (30 days if the policy is purchased through distance marketing).

Must Check

Life Insurance Company

Life Insurance Benefits

Also Read:- Why Do You Need To Buy A Money Back Policy?

Conclusion 

SUD Life Bright Child provides the policyholder the assurance that your child gets the right start in life, be it for higher educational needs, or a happy married life. Under this plan, you are safeguarded for the entire sum assured in case of unfortunate event of death and all future premiums are waived and the benefits are paid as scheduled in the plan.