The Business Bytes
TBB BUREAU
MUMBAI, OCT 8, 2021
SUD Life, a joint venture of Bank of India, Union Bank of India and Dai-ichi Life, has launched a new product e-Wealth Royale, which is a unit-linked life insurance plan providing life cover with flexibility to choose wealth creation options.
The policy also gives a wide-ranging option to choose from 8 funds ranging from blue-chip equity, mid-cap equity, dynamic growth plus, balanced plus income to gilt money market fund.
The product offers two options — platinum and platinum plus, with an inbuilt waiver of premium in case of death, total and permanent disability. Moreover, a policyholder can also opt for the self-managed investment strategy or age-based investment strategy. In the former, one can opt to choose their funds based on individual risk appetite; and in the latter based on age which can be periodically rebalanced.
The policy also gives the option of increasing the premium paying term (PPT) and policy term at a later date.
The policy offers 12 free switches per annum with no capital gains tax for switching which is the specialty of this product.
