Yes, you get a 30-day grace period for annual, semi-annual, and quarterly payments and 15 days for monthly payments to catch up on missed premiums.

Yes, you can revive a lapsed policy, but it should be done within five years of the date of the first unpaid premium. To revive your policy, you have to do the following –

• Submit a written revival request to Us to revive the policy
• Pay the outstanding premiums with interest at the prevailing interest rate.
• Fulfilling the medical requirements as specified by the Company.

The revival will be effected on receipt of the proof of continued insurability and is subject to submission of Declaration of Good Health and Board approved underwriting policy of the Company applicable at that time. Once the Policy is revived, all benefits will be restored to its original benefit level.

You can pay premiums annually or half-yearly

Yes, you can take a policy loan from SUD Life during the policy term provided your policy has acquired a surrender value. To do so, you must assign your policy document as collateral. Maximum loan that can be availed is up to 70% of the surrender value. On obtaining the policy loan, you will need to assign your policy to the Company as a collateral security. The loan outstanding along with accumulated interest will be adjusted towards the benefit payable under your policy.

For reduced paid-up policies, if at any point in time, the amount of loan outstanding along with accumulated interest exceed the applicable Surrender Value, then the Policy will be foreclosed immediately, and no benefits will be payable

No death benefit will be paid in case of death due to suicide. If the the insured commits suicide within 12 months from the Date of commencement of risk or from the date of revival of the policy, the Company will pay 80% of the total premiums paid till date of death or the surrender value available on the date of death provided the policy is active.

You can surrender your policy anytime after completion of first policy year.
Surrender Value payable will be higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).

Policy will acquire Special Surrender Value after the receipt of one full Policy Year premiums, whereas the Guaranteed Surrender Value will be acquired after the receipt of first two consecutive full Policy Year premiums. Kindly refer to the sales brochure for more information.