Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
Policy typeNon-linked, non-participating single-premium individual immediate annuity plan.View source
The brochure identifies the product as a non-linked non-participating individual immediate annuity plan.
- Source
- SUD Life Saral Pension brochure
- Page / section
- p. 2
- Accessed
- 30 Aug 2026
- Confidence
- high
InsurerStar Union Dai-ichi Life Insurance Company Limited (SUD Life); BOI distributes the policy as corporate agent.View source
The BOI disclaimer identifies SUD Life as insurer and BOI as corporate agent.
- Source
- SUD Life Saral Pension
- Page / section
- Disclaimer
- Accessed
- 30 Aug 2026
- Confidence
- high
Entry ageAnnuitant age last birthday must be at least 40 years and not more than 80 years at application.View source
The brochure states the annuitant must be aged 40–80 years when applying.
- Source
- SUD Life Saral Pension brochure
- Page / section
- p. 2
- Accessed
- 30 Aug 2026
- Confidence
- high
Policy term and paymentSingle premium whole-life annuity; no fixed maturity term. Annuity may be paid yearly, half-yearly, quarterly or monthly, commencing after one year, six months, three months or one month respectively.View source
The brochure describes whole-life cover and four payment modes with their commencement intervals.
- Source
- SUD Life Saral Pension brochure
- Page / section
- pp. 2–4
- Accessed
- 30 Aug 2026
- Confidence
- high
Purchase price and minimum annuityMinimum purchase price is the amount needed to provide the selected minimum annuity; maximum purchase price has no limit. Minimum annuity is ₹12,000 yearly, ₹6,000 half-yearly, ₹3,000 quarterly or ₹1,000 monthly.View source
The brochure publishes minimum annuity amounts, no purchase-price ceiling and the rule for the minimum purchase price.
- Source
- SUD Life Saral Pension brochure
- Page / section
- p. 3
- Accessed
- 30 Aug 2026
- Confidence
- high
Published benefitsTwo annuity options: life annuity with return of 100% purchase price, or joint-life last-survivor annuity with return of 100% purchase price after the last survivor’s death; no medicals; loan after six months; surrender after six months only on diagnosis of one of 20 specified critical illnesses; surrender value is 95% of purchase price less outstanding loan and interest.View source
The brochure sets out the two options, no-medical feature, loan timing, critical-illness surrender and 95% surrender value.
- Source
- SUD Life Saral Pension brochure
- Page / section
- pp. 2–5, 12–13
- Accessed
- 30 Aug 2026
- Confidence
- high
Death and survival coverAnnuity continues while the annuitant(s) live. Option 1 pays 100% of purchase price to the nominee on death; Option 2 continues the same annuity to a surviving spouse, then pays 100% purchase price to the nominee after the spouse’s death.View source
The death-benefit table and illustration describe both return-of-purchase-price options.
- Source
- SUD Life Saral Pension brochure
- Page / section
- pp. 4, 11
- Accessed
- 30 Aug 2026
- Confidence
- high
Key exclusionsThe brochure states no separate suicide exclusion for this annuity product; death treatment is the same for normal and suicidal death. Full critical-illness definitions and exclusions are in pages 5–10 of the brochure.View source
The brochure lists 20 critical illnesses and their definitions/exclusions and states the suicide treatment.
- Source
- SUD Life Saral Pension brochure
- Page / section
- pp. 5–10, 13
- Accessed
- 30 Aug 2026
- Confidence
- high
Cover / purchase priceNot separately applicable as a sum-insured amount: Saral Pension is a single-premium immediate annuity. Minimum purchase price is the amount required to provide the selected minimum annuity; maximum purchase price has no limit.View source
The brochure says minimum purchase price is set by the minimum annuity amount and maximum purchase price has no limit; it does not define a separate sum assured for this annuity.
- Source
- SUD Life Saral Pension brochure
- Page / section
- p. 3 — Are there any restrictions on the Purchase Price?
- Accessed
- 30 Aug 2026
- Confidence
- high
Waiting periodNo waiting period is published for annuity income. Payments commence after one year, six months, three months or one month according to the yearly, half-yearly, quarterly or monthly mode selected; these are payment intervals, not a claims waiting period.View source
The complete 16-page brochure publishes payment commencement intervals but no separate waiting-period clause.
- Source
- SUD Life Saral Pension brochure
- Page / section
- p. 3 — Annuity modes and commencement
- Accessed
- 30 Aug 2026
- Confidence
- high
Geographic limitsAnnuity continues while the annuitant(s) live. Option 1 pays 100% of purchase price to the nominee on death; Option 2 continues the same annuity to a surviving spouse, then pays 100% purchase price to the nominee after the spouse’s death.View source
The manually reviewed product record states: “Annuity continues while the annuitant(s) live. Option 1 pays 100% of purchase price to the nominee on death; Option 2 continues the same annuity to a surviving spouse, then pays 100% purchase price to the nominee after the spouse’s death.”.
- Source
- SUD Life Saral Pension — official product page
- Page / section
- Published product metadata
- Accessed
- 30 Aug 2026
- Confidence
- high
Benefits and features
- Entry age 40–80 years
- Single premium whole-life annuity
- Yearly, half-yearly, quarterly or monthly income
- 100% return of purchase price options
- Loan after six months
- 20 critical-illness surrender condition
Eligibility
- Annuitant age is age last birthday; minimum annuity amounts depend on payment frequency.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Proposal, age/identity proof and medical or critical-illness evidence where requested
Related official documents
SUD Life Saral Pension brochureofficial-pdf · current · accessed 30 Aug 2026
↗SUD Life Saral Pension — official BOI pageofficial-product-page · current · accessed 30 Aug 2026
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