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SUD Life Protect Shield Plus – A shield for your family during uncertain times

UIN - 142N088V03

SUD Life Protect Shield Plus is a non-linked, non-participating, pure term insurance plan that covers the financial risk of premature demise and is available only to non-smokers.

Secure your loved ones with SUD Life Protect Shield Plus by simply paying
Premium

For
Life Cover
L Till
*Name as per ID proof like Aadhar,PAN etc
+
Male
Male Female Third

What is SUD Life Protect Shield Plus Plan?

A term insurance plan is a protection-oriented plan which provides financial protection to the family in the breadwinner’s absence. SUD Protect Shield Plus does the same. It is also a term plan which offers optimal coverage at affordable premiums. It gives you the flexibility to choose the coverage level, the policy term and the premium payment term so that you can tailor the plan to your needs. SUD Life Protect Shield Plus pays a death benefit if the life insured dies during the policy term. This death benefit can give your family much-needed financial assistance when you are not around. They can use the funds to meet their lifestyle needs, to pay off existing loans, and even to fulfil the financial goals that they left unfulfilled.

So, with the SUD Life Protect Shield Plus, you can get financial protection at an affordable cost and give security to your family. Plus, the long-term coverage provides optimal protection. The icing on the cake is tax saving. You can save taxes under the Income Tax Act of 1961 for premium payments, and the death benefit is also tax benefits.

Download Plan Related Documents

Detailed information available for download

Product Brochure (Prospectus)
Policy Document

How does the SUD Protect Shield Plus work?

01.

When you buy the SUD Protect Shield Plus plan, you choose your

  • Sum assured (coverage amount)
  • Policy term
  • Premium payment term
02.

The annual premium will be calculated based on your age, gender, risk factors, policy details selected, etc. You need to pay the premium over the chosen policy term and in the chosen premium payment frequency. Once the premium is paid and the policy is issued, your coverage begins.

03.

If the life insured happens to pass away during the chosen policy tenure, the death benefit is paid in a lump sum. This benefit will give your family financial assistance in your absence.

04.

However, if the life insured manages to survive the policy tenure and the plan matures, no maturity benefit will be paid since this is a pure-term plan or a protection-only plan! 

Let’s understand with an example.

Mr. Rohit has opted for SUD Life Protect Shield Plus. The details are as below
Life Assured Age - 30 years
Premium Frequency - Yearly
Policy Term - 20 years
Premium Paying Term - 20 years
Sum Assured (SA) - ₹ 1,00,00,000
Annualized Premium - ₹ 9,937 (exclusive of applicable taxes)


Eligibility Criteria

Parameters Minimum Maximum
Entry age 18 years 60 years
Maturity age 23 years 80 years
Annualized premium
Single premium Limited and Regular premium
₹32,247 ₹8,625
Single premium Limited and Regular premium
₹21,96,398 ₹5,12,038
Sum Assured ₹1 crore ₹2 crores
Sum Assured will be in multiples of ₹25 lakhs
Premium Payment Term (PPT) Single pay,
Limited pay – 5,7,10,12,15 years,
Regular pay – equal to the chosen policy term
Policy term
Single pay Limited pay Regular pay
5 years to 40 years 5 and 7 pay – 10 years to 40 years
10 and 12 pay – 15 years to 40 years
15 pay – 20 years to 40 years 		10 years to 40 years
Premium payment frequency Annual, Half-yearly, Quarterly and Monthly
Smoking history Available only for non-smokers

Minimum – 18 years Maximum – 60 years

Minimum – 23 years Maximum – 80 years

Single premium Minimum - ₹32,247 Maximum - ₹21,96,398
Limited and Regular premium Minimum - ₹8,625 Maximum - ₹5,12,038

Minimum - ₹1 crore Maximum - ₹2 crores Sum Assured will be in multiples of ₹25 lakhs

Single pay Limited pay – 5,7,10,12,15 years Regular pay – equal to the chosen policy term

Single pay 5 years to 40 years
Limited pay 5 and 7 pay – 10 years to 40 years
10 and 12 pay – 15 years to 40 years
15 pay – 20 years to 40 years
Regular pay 10 years to 40 years

Annual, Half-yearly, Quarterly and Monthly

Available only for non-smokers

SUD Protect Shield Plus Plan Benefits

Here are the benefits that you get from the plan

Death Benefit
View Details

If the life insured happens to pass away during the chosen policy term, the death benefits are paid in a lump sum to the Nominee/ Beneficiary and the policy will terminate immediately

Death Benefit

If the life insured happens to pass away during the chosen policy term, the death benefits are paid in a lump sum to the Nominee/ Beneficiary and the policy will terminate immediately

Maturity Benefit
View Details

No maturity benefit is payable under this product.

Maturity Benefit

No maturity benefit is payable under this product.

Why Choose SUD Protect Shield Plus?

SUD Protect Shield Plus can be the right choice for you because

It has affordable premiums
It provides financial security against the risk of premature demise
You can buy the plan online in a few clicks
You can get long-term coverage
You can save taxes on the premiums paid
The lump sum death benefit can give your family substantial financial assistance.
TESTIMONIALS
Know why customers buy
life insurance from us
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
CONNECT WITH US
WhatsApp 7208867122
Email digital@sudlife.in
Toll Free Monday to Saturday
09:00 AM to 07:00 PM
Locate Our Branches Schedule a Callback

Frequently asked
questions (FAQs)

Yes, this plan allows you to change your premium payment frequency during the premium payment term. However, the alteration can only be made on any policy anniversary.

One exclusion available under the product for which no death benefit will be payable. If the life insured commits suicide within 12 months of date of commencement of risk or date of revival of the Policy, , then no death benefit will be paid. In such cases, an amount which is higher of 80% of the total premiums paid till date of death or the policy cancellation value, if available will be payable.

Yes, if you disagree to policy terms and conditions then you can cancel the policy within the freelook period of 30 days . from the date of receipt of the policy documents. In such event, we will refund you premium paid after deductions of

  • Stamp duty charges
  • Proportionate risk premium for the period of cover.
  • Expenses incurred by Us on medical examinations, if any.

If you cancel the policy premature/ anytime during the Policy Term then the Company will pay you the Policy Cancellation Value. Please note, the policy cancellation value will be available only if you have opted for the Single or Limited premium payment terms. In case if you have opted for Regular Premium Payment Term, then the policy will not acquire policy cancellation value.

Limited premium payment term - Policy Cancellation Value acquires if at least first two consecutive full years’ premiums are paid.

Single premium payment term - Policy Cancellation Value acquires immediately after receipt of Single Premium.

Kindly refer to the Sales Brochure for more information on the policy cancellation value.

The death benefit is the highest of the following:

For single premium payment term:

  • 1.25 times the single premium; or
  • Absolute amount assured to be paid on death (i.e. Sum Assured selected at the inception of the policy)

For limited and regular premium payment term:

  • 10 times the annualized premium paid; or
  • Absolute amount assured to be paid on death (i.e. Sum Assured selected at the inception of the policy); or
  • 105% of the total premiums paid till the date of death of the Life Insured.

If you do not pay the premium within the due date, you get an extended period for premium payment called the grace period. The grace period is 15 days for monthly premium payment mode and 30 days for Yearly, Half Yearly, Quarterly mode. You can pay the premium during the grace period and enjoy continued coverage.

However, if you do not pay the premium even during the grace period, your policy will lapse and the life cover will cease.

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.

Disclaimers

Star Union Dai-ichi Life Insurance Company Limited is the name of the Insurance Company and “SUD Life Protect Shield 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. This is a Pure Term insurance product where no maturity benefit will be paid on survival till the end of the policy term.

SUD Life Protect Shield Plus | UIN: 142N088V03 | Non-Linked Non-Participating Pure Risk Premium Individual 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.

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