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SUD Life Century Plus

UIN: 142N074V05

SUD Life Century Plus is a limited premium, non-participating, non-linked, endowment assurance life insurance plan that provides insurance protection and also helps you create a corpus for your financial goals.

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What is SUD Life Century Plus Plan?

SUD Life Century Plus is a savings-oriented life insurance plan that also offers financial security to your family in the event of your untimely demise. Your family receives a lump-sum death benefit, helping them meet their financial needs in your absence. Under the plan, you have to pay premiums only for a limited period, but the coverage continues for the chosen policy term. This allows you to enjoy longer protection with limited premiums.

There is also a guaranteed maturity benefit at the end of the chosen policy term, which is calculated based on your age and the duration of the policy. This benefit gives you a lump-sum corpus for your planned financial goals.

If you need to surrender the policy for any reason, you can do so and get attractive surrender values from the 11th policy year.

SUD Life Century Plus also allows you to enhance your coverage with optional riders. Two riders are available, which provide additional coverage against accidental death and disability. With limited premium payments and guaranteed benefits, the plan is a good choice for those looking for savings and insurance.

Download Plan Related Documents

Detailed information available for download

Product Brochure (Prospectus)
Policy Document

How Does SUD Life Century Plus Work?

01.

Buy the SUD Life Century Plus Insurance Plan and select the following:

  • Policy term
  • Premium amount
  • Optional riders
02.

The premium payment term is fixed at 5 years and you have to pay the premiums annually. The death and maturity benefits depend on the premium amount and the policy term.

03.

If you survive till the policy term and your policy remains active, you will get a Guaranteed Maturity Benefit which will be calculated based on your age, policy term and premium amount.

04.

In the case of premature demise, the Sum Assured on Death will be paid as a lump-sum to the nominee. If you have chosen any rider and the event covered under the rider occurs, an additional rider benefit will be paid.

05.

SUD Life Century Plus comes with two optional riders

06.
1. SUD Life Accidental Death and Total & Permanent Disability Benefit Rider

a. In case of accidental death: If the life assured dies due to an accident within the policy term, 100% of the sum assured of the rider will be paid, and the policy will end.

b. In case of accidental disability: If the life assured becomes totally and permanently disabled due to an accident within the policy term:

  • Ten equal half-yearly payments will be paid; each amount will equal Rider Sum Assured Multiplied by 10%. The rider ends once all payments are made.
  • If the life assured passes away while receiving disability benefits, the remaining instalments will be paid to their beneficiary.

07.
1. SUD Life Family Income Benefit Rider

a. If the life assured passes away while the rider is active, the nominee will receive a fixed monthly income for 10 years. The monthly income is equal to 10% of the rider sum assured divided by 12.

Let us understand with an example:

Mohit, age 30 years, has opted for Century Plus and paying an annual premium of ₹ 1,00,000 (exclusive of applicable taxes) with a premium paying term of 5 years & policy term of 16 years.

Maturity Benefit - On Survival, Mohit will receive a maturity benefit of ₹ 9,76,000/-

Death Benefit – In the event of unfortunate death of policy holder, the nominee will receive a death benefit of ₹ 10,00,000/-

(The benefit are subject to policy being fully inforce on the date of the event)

*Payable at the end of policy term provided the policy is in force.

#As per prevailing norms under the Income Tax Act 1961, amended from time to time.

Eligibility Criteria

Parameters Minimum Maximum
Entry Age 8 years 50 years
Maturity Age 18 years 66 Years
Policy Term 10 years 16 years
Premium Payment Term 5 years
Premium Payment Mode Annual
Sum Assured on Death ₹10 lakhs ₹20 crores
Annualized Premium ₹1,00,000 ₹2 crores

Minimum: 8 years Maximum: 50 years

Minimum: 18 years Maximum: 66 years

Minimum: 10 years Maximum: 16 years

5 years

Annual

Annual

Minimum: ₹10 lakhs Maximum: ₹20 crores

Minimum: ₹1,00,000 Maximum: ₹2 crores

SUD Life Century Plus Insurance Plan Benefits

Here are the benefits that you get from the plan

Death Benefit
View Details

If the life assured passes away during the policy period, the Sum Assured on Death is paid as a lump-sum.

Death Benefit

If the life assured passes away during the policy period, the Sum Assured on Death is paid as a lump-sum.

Maturity1 Benefit
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A Guaranteed Maturity Benefit is paid as a lump-sum if the life assured survives the chosen policy term.

Maturity1 Benefit

A Guaranteed Maturity Benefit is paid as a lump-sum if the life assured survives the chosen policy term.

Rider benefits
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The plan offers two optional riders that provide additional coverage beyond the basic policy, ensuring additional financial protection.

Rider benefits

The plan offers two optional riders that provide additional coverage beyond the basic policy, ensuring additional financial protection.

Policy Loans
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You can get a loan against your policy during the policy term to meet any emergency financial needs. The loan is allowed if your policy has acquired a surrender value.

Policy Loans

You can get a loan against your policy during the policy term to meet any emergency financial needs. The loan is allowed if your policy has acquired a surrender value.

Surrender Value
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You can surrender and exit the policy before the tenure ends. A attractive surrender value is paid for policies surrendered after the 11th year.

Surrender Value

You can surrender and exit the policy before the tenure ends. A attractive surrender value is paid for policies surrendered after the 11th year.

Freelook period
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If you are not satisfied with the policy, you can cancel it and get a premium refund during the freelook period. The period is 30 days from the date of receiving the policy, and the premium is refunded after the applicable charges have been deducted.

Freelook period

If you are not satisfied with the policy, you can cancel it and get a premium refund during the freelook period. The period is 30 days from the date of receiving the policy, and the premium is refunded after the applicable charges have been deducted.

Why Choose SUD Life Century Plus?

SUD Life Century Plus Insurance Plan can be a good choice because:

It offers life insurance protection against unforeseen eventualities,
The optional riders help in enhancing the scope of the policy,
Limited premium payments make it suitable for those with limited incomes,
Policy loan and freelook cancellation add flexibility to the plan.
TESTIMONIALS
Know why customers buy
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Best Insurance Support Team

Choosing SUD Life Insurance was one of the best decisions I've made for my family's future. Their attentive team made the entire process seamless, ensuring I found the perfect plan tailored to my needs.

Ramesh Bhalchandra Patil
Companies in India for Life Insurance Policy with a Wide Reach

Choosing SUD Life Insurance was one of the best decisions I've made for my family's future. Their attentive team made the entire process seamless, ensuring I found the perfect plan tailored to my needs.

Suresh Gajanan Patil
Best Insurance Claim Support Team

Choosing SUD Life Insurance was one of the best decisions I've made for my family's future. Their attentive team made the entire process seamless, ensuring I found the perfect plan tailored to my needs.

Ramprakash Shivram Yadav

Why Choose SUD Life

98.84% Claim Settled as per 31.03.2024
20,000+ 19000+ Distribution Points across India for Life Insurance Purchase and Service
31,000+ Cr Assets Under Management
1,52+ Cr Happy Customers
Hassle Free Easy Payments
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Frequently asked
questions (FAQs)

The death benefit under the plan is called the Sum Assured on Death. It is the highest of the following values:

  • 10 times the Annualized premium paid,
  • 105% of the total premiums paid till death,
  • Guaranteed Maturity Benefit or
  • The absolute amount assured to be paid on death.

If you miss paying the premium on the due date, you get an additional period for payment which is called the grace period. Since the plan allows only annual premium payments, the grace period is 30 days from the date of the first unpaid premium. You can pay the premium within the grace period to avoid a lapse and enjoy full policy benefits.

You can avail of a policy loan of up to 70% of the acquired surrender value. You can repay the loan at your convenience. An interest would be charged on the borrowed amount.

No exclusion for normal Death. In case of death due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the Policyholder/ Nominee / Beneficiary shall be entitled to an amount which is higher of 80% of the total premiums paid till the date of death of the Life Assured or the Surrender Value available as on the date of death of the Life Assured provided the policy is in-force.

Yes, minor lives are insured from the date of the risk commencement. There’s no waiting period for their coverage. Moreover, when the minor crosses 18 years of age, the policy vests in the name of the minor.

Disclaimers
  • Payable at the end of Policy term, on survival of life assured provided policy is inforce

Star Union Dai-ichi Life Insurance Company Limited is the name of the Insurance Company and “SUD Life Century Plus” is the name of the plan. Neither the name of the Insurance Company nor the name of the plan in anyway indicates the quality of the plan, its future prospects or returns.

SUD Life Century Plus | UIN - 142N074V05 | Individual Non-Linked Non-Participating Savings Life Insurance Plan

Star Union Dai-ichi Life Insurance Company Limited | IRDAI Regn. No: 142 | CIN: U66010MH2007PLC174472

Registered Office : Unit no. 1101, 11th Floor, Building No. 1 Raheja Mindspace Juinagar, Plot No. GEN 2/1/E, TTC Industrial Area, MIDC Juinagar, Navi Mumbai – 400706. | 1800 266 8833 (Toll Free) | Timing: 9:00 am - 7:00 pm (Mon - Sat) | Email ID: customercare@sudlife.in | Visit: www.sudlife.in

For more details on risk factors, terms and conditions, please refer to the sales brochure carefully, before concluding the sale. Tax benefits are as per prevailing tax laws and subject to change from time to time. Participation by the Bank’s customers in Insurance Business shall be purely on a voluntary basis. It is strictly on a non-risk participation basis from the Bank. Trade-logo displayed belongs to M/s Bank of India, M/s Union Bank of India and M/s Dai-ichi Life International Holdings LLC and are being used by Star Union Dai-ichi Life Insurance Co. Ltd. under license.

BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS/FRADULENT OFFERS : IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls requested to lodge a police complaint.