Girish Kulkarni , MD & CEO, SUD LifeINVC NEWS
Chandigarh,

  • Creates a robust financial kitty and security for post-retirement life
  • ump sum amount at retirement that generates lifelong income*
  • Hassel free enrolment – no medicals
  • Offers guaranteed returns for upto 20 yrs*
  • Option available both in single premium and limited period premium modes through purchase of annuity
SUD Life (Star Union Dai-ichi Life Insurance Co. Ltd.), a joint venture between Bank of India, Union Bank of India and the Japan-based Dai-ichi Life, launched, its SUD Life Guaranteed Pension Plan thatcreates a robust financial kitty for post-retirement life and gives financial independence too. SUD Life Guaranteed Pension Plan is a deferred pension plan that helps creates a guaranteed corpusand ensures policyholders and their family members receive a regular pension after retirement. It provides a lump sum amount at retirement which can be invested in an annuity helping policyholders generate lifelong income to meet their planned and unplanned financial needs in the golden years.

Announcing the launch of the new pension plan,Girish Kulkarni, Managing Director and Chief Executive Officer of SUD LifeInsurance said, “Retirement planning has become a crucial step for growing India.  The number of Indians over the age of 60 has hit an all-time high, accounting for 8.6 percent of the country’s 121 crore population – jumping to 35.5% from 7.6% in 2001 to 10.3% in 2011*.  This is almost twice the rate at which the overall population grew.”

What’s adding to the urgency of insuring ones retirement is the development of nuclear family structures.  While earlier, one would depend on the extended joint family system where the young earned and the elderly took care of the family with those earnings; this is no longer the case.

Mr. Kulkarni further added, “SUD Life Guaranteed Pension Plan helps our customers to plan for their life post retirement – be it starting a new venture, pursuing a hobby, travelling across the world or just enjoying time with family and friends.  It helps them meet their planned as well as unplanned financial needs by providing a retirement corpus.”

An important feature of the plan is its hassle free enrolment process, as there areno medical requirements.

A person can choose the policy term as well as the premium payment term based on his/her current life stage and retirement needs. The minimum age at entry is35 years and maximum age at entry is 65 years provided age at vesting is not more than 70years.

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