The commission payable under this product is subject to limits set under IRDA (Non-Linked Inusrance Products) Regulations, 2013, which is as mentioned below

# For broker channel, the maximum commission in the first year is 30% of the annuliased premium and in year 2 and onwards it is 5% of the annualised premium.

Terms and Conditions

1. Rate of Return Assumed in the Sales Illustration
   As this is a non linked non participating plan, where all benefits are guaranteed, rate of return is not applicable.
2. Rider Benefit
   The following are the Rider available under the plan.
   
   1. SUD Life Accidental Death and Total & Permanent Disability Benefit Rider - Traditional (UIN - 142B005V01)
      Benefits Available under the Rider, if opted for:
      
      1. Accidental Death benefit : On death of the Life Assured due to Accident, 100% of Rider Sum Assured will be paid provided the policy is in force as on the date of death of the Life Assured and the Rider contract ceases thereafter.
      2. Accidental Total and Permanent disability benefit : Rider Sum Assured will be paid in 10 equal half-yearly installments wherein each installment amount will be equal to Rider Sum Assured multiplied by 10%, provided the policy is in force( as on the date of occurrence of event) and the Rider contract will cease after payment of the last instalment.
   2. SUD Life Family Income Benefit Rider - Traditional (UIN - 142B007V01)
      Death Benefits Available under the Rider, if opted for:
      On death of the Life Assured, provided the rider benefit is In-force, the Nominee/Legal heir will be paid a Monthly Income Benefit for a fixed period of 10 Years. The Monthly Income Benefit is equal to (10% of Rider Sum Assured)/12 and will be paid at the end of every policy month following the date of death of the Life Assured and will continue to be paid for fixed period of 10 Years.
3. Surrender Benefit for Base Plan
   Surrender of the base policy is allowed after 2 full years premiums have been paid. Surrender Value payable will be higher of Guaranteed Surrender Value and Special Surrender Value.(calculated according to the basis and method in use from time to time.
   Guaranteed Surrender Value = Guaranteed Surrender Value Factor x Total premiums paid (upto the date of surrender, excluding taxes and extra premiums if any) less Survival Benefits paid (i.e. Monthly Payouts and Annual Payouts), if any.
4. Tax Benefits
   Premiums payable and benefits receivable under this plan are eligible for tax benefits as per the prevailing tax laws. W.e.f. from April 01, 2012, to qualify for tax benefit on premium(s) paid under section 80 C & for tax benefit on maturity/survival proceeds under section 10 (10 D) of the IT Act, 1961, the sum assured should not be less than 10 times the annualised/single premium. Please consult your tax advisor for details
5. Proposal Deposit
   The proposal deposit receipt given in respect of the consideration amount paid to the company does not bind the company to accept the risk on the life of the life proposed under the proposal for insurance.
   The above premium is for a healthy individual and would be subject to underwriting.
   Any extra premiums charged are subject to underwriting of proposal, and may change based on the board approved underwriting guidelines. The extra premium to be charged for Non Standard Age Proof cases (NSAP) is Rs. 1.5 per thousand Sum Assured.
6. About Star Union Dai-ichi Life Insurance Company Limited
   Star Union Dai-ichi Life insurance is the name of the company and 'SUD Life's Elite Assure Plan' is only the name of the Plan and does in no way indicate the quality of the policy, its future prospects or returns.
7. The minimum death benefit is guaranteed during the term and is payable to nominee / legal heirs.
8. Goods and Services Tax will be charged on premiums as per prevailing tax laws. The rate currently applicable for Base Plan is 4.50% on the first year premium and 2.25% on renewal premium. The rate currently applicable on Rider Plan is 18%.This is subject to any change in the tax rate.
9. For more details on risk factor, terms and conditions, please read the Sales brochure of the plan carefully before concluding a sale.
   In case you require any clarification, please consult your insurance advisor or call our office.

I .............................................. (Name), having received the information with respect to the above, have understood the above statement before entering into the contract.

Signature of the Specified Person / Agent / Other Sales Representative :

Company Seal:                                                         Policyholder's signature

Name of the Specified Person / Agent / Other Sales Representative :
Specified Person / Agent / Other Sales Representative Code :
Place:
Date: