SUD Life Aashirwaad Plan

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Star Union Dai-ichi (SUD) Life Aashirwaad Plan is a non-linked non-participating endowment plan designed to help you meet the growing financial needs of your child during his/her growing years. The plan allows you to customise the plan as per the changing dreams of your child with the help of its 5 payout options for the payment of the guaranteed maturity benefit. The plan also provides for guaranteed additions.

The plan also comes with an in-built waiver of premium benefit. You can choose to further enhance the coverage of the plan by opting for 2 optional riders - Accidental Death and Total & Permanent Disability Benefit rider and Family Income Benefit rider to keep your loved ones secured during uncertain times. The other benefits of this plan include high sum assured discounts and policy loan facility.

Best Features of SUD Life Aashirwaad Plan

Following are the key features of the SUD Aashirwaad Plan -

  1. Benefit Payout Options - The plan provides 5 maturity benefit payout options - Self-starter, Professional, Foundation, Technical, and Career Buider. The payout option can be changed anytime during the policy period.
  2. Guaranteed Additions - The plan provides guaranteed additions equivalent to the product of 4% of the basic sum assured and policy term at the time of plan maturity.
  3. High Sum Assured Discount - The plan provides a discount of up to INR 2 per INR 1,000 basic sum assured for policies with a sum assured of INR 7 Lakh and more.
  4. Reduced Paid-up Policy - In case you fail to pay the premiums after the payment of at least 2 years’ premiums, the policy automatically gets converted into a paid-up policy and continues till maturity with reduced benefits.
  5. Policy Revival - A lapsed or reduced paid-up policy can be revived within 5 years from the date of the first unpaid premium.
  6. Rider Benefits - The plan provides 2 rider options namely Accidental Death and Total & Permanent Disability Benefit rider and Family Income Benefit rider.
  7. Policy Loan - After the payment of at least 2 years’ premiums, you can avail a loan of up to 50% of the surrender value to meet financial emergencies. The loan is currently available at an interest rate of 9% p.a. compounding half-yearly.

Benefits of SUD Life Aashirwaad Plan

The SUD Life Aashirwaad Plan offers the following set of benefits to its investors - 

            1. Maturity Benefit

In case of survival of the life assured till the end of the policy term, an aggregate of the guaranteed maturity sum assured and the guaranteed additions is paid as the maturity benefit. The guaranteed maturity sum assured refers to the amount chosen by you to fund your child’s education and is paid as per the payout option chosen by you in the following manner - 

% of Basic Sum Assured

Year of Payout





Career Builder

End of Policy Term






End of Policy Term + 1 Year






End of Policy Term + 2 Years






End of Policy Term + 3 Years






End of Policy Term + 4 Years






            2. Death Benefit

In case of an unfortunate death of the life assured, the highest of the following is paid to the nominee as the death benefit - 

  • Guaranteed maturity benefit
  • Absolute sum assured on death
  • 10 times of the annualised premium
  • 105% of the total premiums paid till the date of death

The death benefit can also be received as a lump sum by the nominee at a discounted value.

SUD Life Aashirwaad Plan Eligibility

The SUD Life Aashirwaad Plan features the following eligibility conditions -

Eligibility Criteria For SUD Life Aashirwaad Plan

Minimum Age At Entry18 years
Maximum Age At Entry50 years
Maximum Age At Maturity70 years
Policy Term & Premium Payment Term (PPT)



Policy Term

5 years

10 years - 20 years

7 years

10 years

15 years - 20 years

15 years

Minimum Basic Sum AssuredINR 4 Lakh
Maximum Basic Sum AssuredINR 100 Crore, subject to underwriting
Premium Payment ModesMonthly, Quarterly, Half-yearly, Yearly

SUD Life Aashirwaad Plan Review

SUD Life Aashirwaad Plan is a customisable child-oriented endowment plan which provides you guaranteed maturity sum assured along with guaranteed additions. The plan waives off all the future premiums in case of an unfortunate demise of the life assured during the policy term to help meet the child his/her dreams without any interruption. 

The plan features 5 different payout options for the maturity benefit which allows you to receive the accumulated corpus in up to 5 years. The plan’s coverage can further be enhanced with the help of available 2 rider options. It is a considerable endowment plan for individuals looking for an investment solution which they can tailor as per the changing educational aspirations of their child.

SUD Life Aashirwaad Plan FAQs

  • 1. How much rebate is available for plans with high sum assured?

    The SUD Life Aashirwaad plan provides a high sum assured rebate in the following manner - 

    Basic Sum Assured

    Discount Per INR 1,000 Basic Sum Assured

    INR 4,00,000 - INR 6,99,999


    INR 7,00,000 - INR 9,99,999


    INR 10,00,000 - INR 14,99,999


    INR 15,00,000 - INR 24,99,999


    INR 25,00,000 and above


  • 2. What are the tax benefits available with the plan?

    The premium paid towards the SUD Life Aashirwaad Plan qualifies for a tax deduction of up to INR 1.5 Lakh under Section 80C of the Income Tax Act. Also, the proceeds receivable under the plan are eligible for a tax exemption under Section 10 (10D) if the premium paid is at least 10% of the sum assured or the sum assured is a minimum of 10 times of the premium paid. 

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