Talk to Expert

SUD Life POS Sanchay

Guaranteed returns bhi aur pariwaar ki suraksha bhi!

Create supplementary future income

Fixed premium payment term & policy term of 10 years

Get a supplementary future income for you and your family by investing amount
You Give
For
You Get
L - Life Cover / Annual For
This plan is right for you if:
Male
Male Female
+
Annual
Annual Semi-Annual

Key benefits of SUD Life POS Sanchay

Life Cover- Get life cover with hassle- free issuance

No medical tests- No medical tests required for buying the policy

Receive maturity benefit in 10 equal annual regular instalments during the Payout Period

Why Choose SUD Life

21,613 Cr

Assets Under Management
as on Sep’23

11,300+ Cr

Benefits Paid till
Sep’23

2.90 Days

Average claim settlement
time

How does the plan work?

Let us understand this with an example:

To understand the benefits, let us assume Mr. Rohit, 35 years of age, professional working with an IT firm. He is looking for an investment plan which helps in generating second source of income for him, to fuel his additional expenses or family needs 10 years later. Mr. Rohit opts for POS-SUD Life Sanchay.

  • Chooses to pay premium of Rs 20,000 for 10 years, payable on annual basis. Mr. Rohit will receive following benefit:
  • Maturity Benefit – on survival till end of policy term, Guaranteed Maturity Benefit i.e. 10 equal instalment which equals to 160% of Annualized Premium during the payout period. i.e. Rohit will receive Rs 32,000 (160% of Annualized Premium) at the end of each year during the payout period (i.e. from 11th year to year). The first instalment is payable at the end of 11 Year.
  • Death Benefit - In case of unfortunate demise during 8 year of Policy term, his nominee will receive the death benefit in 10 equal annual regular instalments of 160% of Annualized Premium..

We are happy to help you

Need help?

Our experts are happy to answer any questions you may have.

Call us at

1800 266 8833

Call centre hours -

Monday to Saturday
09:00 AM to 7:00 PM

Frequently asked questions

1. Are there any age restrictions while applying for the plan?

Yes, the Life Assured should be at least 18 years of age* and not more than 45 years of age* while applying for this plan.

The maximum age* at Maturity is 55 years.(*last birthday)

2.How long will the plan be active & for how long do I need to pay my Premiums?

The plan will be active for policy term of 10 years. Premium Payment Term is fixed 10 years for this policy.

3.What are the Premium Payment modes available with SUD Life Sanchay?

You can pay your premium Monthly*/ Quarterly*/ Half-Yearly / Yearly based on your income flow.

* (Premium for Monthly and Quarterly modes allowed through ECS/SI only)

4.Are there any restrictions on the annual premium?

Minimum 6,000 & maximum 1, 50,000 (Multiples of 1,000)

5.What is the minimum and maximum Sum Assured in SUD Life Sanchay?

The minimum and maximum Sum Assured is Rs. 96,000 and Rs. 24,00,000 respectively.

6.Is there any waiting period for POS – SUD Life Sanchay?

Yes, waiting period of 90 days is applicable for Death Benefit from date of acceptance of risk

7.What is the Death Benefit in SUD Life Sanchay?

In case of unfortunate death of the policyholder during the policy term, Death Sum assured is paid in 10 equal annual regular installments of 160% of Annualized Premium

8.In case of death of the policy holder, can the beneficiary get the future outstanding benefits in the form of lump sum?

Yes, the outstanding benefits will be discounted by 6% per annum at the time of payment

9.What is the Death benefit payable in case the customer dies during the waiting period?

On death of the Life Assured during the waiting period due to any cause other than accident, provided the policy is in-force, 100% of Premium paid (excluding any extra premium, Goods and Services tax and loading for modal factors, if any) will be paid

10.What is the Maturity Benefit in SUD Life Sanchay?

On maturity of the policy, the Basic Sum Assured is paid in 10 equal Annual Instalments, which is equal to 160% of the Annualized Premium. *Instalments are paid at the end of year starting from 11th year to 20th year.

11.What happens in case of missed premiums?

In case of missed premiums, we give you a grace period of 30 days in case of Quarterly/ Half-yearly or Yearly Premium Payment mode and 15 days in case your Premium Payment mode is Monthly to pay the due premium. This period starts from the due date of each premium payment.In case of missed premiums, we give you a grace period of 30 days in case of Quarterly/ Half-yearly or Yearly Premium Payment mode and 15 days in case your Premium Payment mode is Monthly to pay the due premium. This period starts from the due date of each premium payment.

12.What happens if you fail to pay premiums during the grace period

If you fail to pay your premiums before the expiry of the grace period,

  • - Where your policy has not acquired surrender value: Your policy will Lapse
  • - Where your policy has acquired surrender value: Your policy will continue with reduced benefits (as a Reduced Paid up policy)
13.Does this policy provide any tax benefits?

Yes. This policy provides Income Tax benefits under Section 80(C) and 10(10D) of the Income Tax Act, 1961, subject to conditions stipulated therein. We recommend you consult your tax advisor for details.

14.Is there Loan option in this plan?

The loan can be availed for up to 70% of Surrender Value at the applicable interest rate levied.

15.Are there riders available?

No, there are no riders available under this product.

16.Can I receive benefits in a Lumpsum amount instead of instalments?

Yes, if you want to receive the future outstanding benefits in the form of lump sum benefit at any point in time during payout period, discounted value of the remaining outstanding benefits will be paid and the policy terminates immediately

POS – SUD Life Sanchay (UIN: 142N058V04) is an Individual Non-Linked Non-Participating Savings Life Insurance Plan.

The Payout Period will commence from the completion of the Policy Term. Option to take the Maturity and Death benefits as lump sum payment at a discounted value is also available under the plan

In case of death benefit, the first payment will be made at the time of death claim admitted and settled by the Company and remaining instalments would be received by the nominee on the subsequent death anniversaries of the life assured.

A waiting period of 90 days is applicable for Death Benefit from date of acceptance of risk. In case of death of the Life Assured due to any cause other than accident during the waiting period, 100% of premiums paid excluding Goods & Services Tax, extra premium and modal factor, if any will be paid. In case of death due to accident during the waiting period, Sum Assured on Death is payable in 10 equal annual instalments.

All the benefits displayed above are for in-force policies.

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

POS - SUD Life Sanchay | UIN: 142N058V04 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: 11 Floor, Vishwaroop I.T. Park, Plot No. 34, 35 & 38, Sector 30A of IIP, Vashi, Navi Mumbai - 400 703 | 1800 266 8833 (Toll Free) | Timing: 9:00 am - 7:00 pm (Mon - Sat) | E mail 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/Fraud Phone calls - IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.