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SUD Life Centurion

UIN: 142N101V02

SUD Life Centurion is a non-linked, non-participating, savings-oriented life insurance plan that helps create a savings corpus for your goals. It also offers insurance coverage during the policy term.

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What is SUD Life Centurion Plan?

SUD Life Centurion plan is designed to help create a savings corpus while providing insurance protection. It is a simple savings plan which allows coverage for a fixed period of 100 months and requires only a single premium. You just have to pay the premium once when buying the policy, which frees you from repeated premium payments and also helps in avoiding a lapse. This means you can invest in the plan once and reap the coverage and savings benefits over the policy tenure.

The maturity benefit is paid in a lump sum, giving you a source of funds for your financial goals. You can also get a policy loan against the surrender value to meet financial emergencies with ease. In addition to these benefits, the plan also allows you tax advantages under the prevailing laws. This helps you reduce your tax liability and save more. Whether it is planning for your child’s secured future saving up for buying a home or a car, SUD Life Centurion can be a suitable tool to help you fulfil your goals.

Download Plan Related Documents

Detailed information available for download

Product Brochure (Prospectus)
Policy Document

How Does SUD Life Centurion Plan Work?

01.

When you buy the SUD Life Centurion plan, you will have to choose the death benefit option and the premium amount. The policy term will be fixed at 100 months. Pay the premium when buying the policy, and the coverage will start.

02.

In the case the life assured passes away during the policy tenure, the higher of the sum assured on death or the acquired surrender value will be paid depending on the option selected.

03.

There are two options, and the sum assured on death under each is as follows -

  • Option 1 - 1.25 times the single premium paid
  • Option 2 - 10 times the single premium paid
04.

However, if the life assured survives the policy tenure, the Guaranteed Maturity Benefit will be paid in a lump sum. This benefit is calculated by multiplying the single premium with the Guaranteed Maturity Benefit (GMB) multiple. The GMB multiple depends on your age.

Let us understand this with an example:

Mr. Prakash has opted SUD Life – Centurion (Option 1). The details are as below:
Life Assured Age 35 years
Policy Term 100 Months
Premium Paying Term Single Pay
Sum Assured on Death ₹ 1,25,000
Guaranteed Maturity Benefit ₹ 1,62,960
Single Premium ₹ 1,00,000 (exclusive of applicable taxes)

On unfortunate death of the Life assured during 20th policy month, nominee or beneficiary will get death benefit as:

Mr. Prakash has opted SUD Life – Centurion (Option 2). The details are as below:
Life Assured Age 35 years
Policy Term 100 Months
Premium Paying Term Single Pay
Sum Assured on Death ₹ 10,00,000
Guaranteed Maturity Benefit ₹ 1,48,710 (exclusive of applicable taxes)
Single Premium ₹ 1,00,000 (exclusive of applicable taxes)

On unfortunate death of the Life assured during 20th policy month, nominee or beneficiary will get death benefit as:

Eligibility Criteria

Parameters Minimum Maximum
Entry Age 10 Years 65 years (Option 1)
40 years (Option 2)
Maturity Age 18 Years 74 Years
Premium Payment Term Single pay
Single premium ₹1,00,000 Option 1 - As per Board Approved Underwriting Policy
Option 2 - ₹5 lakhs
Policy term 100 months
Sum Assured on Death Option 1 - ₹1.25 lakhs
Option 2 - ₹10 lakhs 		Option 1 - As per Board Approved Underwriting Policy
Option 2 - ₹50 lakhs

Minimum 10 years
Maximum 65 years (Option 1) 40 years (Option 2)

Minimum 18 years
Maximum 74 years

Single pay

Minimum:
₹1,00,000
Maximum:
Option 1 - As per Board Approved Underwriting Policy
Option 2 - ₹5 lakhs

100 months

Minimum:
Option 1 - ₹1.25 lakhs
Option 2 - ₹10 lakhs
Maximum:
Option 1 - As per Board Approved Underwriting Policy
Option 2 - ₹50 lakhs

SUD Life Centurion Insurance Plan Benefits

Here are the benefits that you get from the plan

Death Benefit
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If the life insured passes away during the policy term, the higher of the Sum Assured on Death (depending on the option selected) or the acquired surrender value will be paid out as a lump sum

Death Benefit

If the life insured passes away during the policy term, the higher of the Sum Assured on Death (depending on the option selected) or the acquired surrender value will be paid out as a lump sum

Maturity Benefit
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If the life assured survives until the end of the policy term, he/ she will receive a Guaranteed Maturity Benefit based on the single premium paid, their age, and the corresponding GMB factor.

Maturity Benefit

If the life assured survives until the end of the policy term, he/ she will receive a Guaranteed Maturity Benefit based on the single premium paid, their age, and the corresponding GMB factor.

Avail Policy loan
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In case of a financial emergency, the policyholder can get a loan against the surrender value during the policy period. A loan of up to 70% of the surrender value is available under the plan. Please read the Sales Brochure for more information.

Avail Policy loan

In case of a financial emergency, the policyholder can get a loan against the surrender value during the policy period. A loan of up to 70% of the surrender value is available under the plan. Please read the Sales Brochure for more information.

Freelook period
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You can return the policy and get a premium refund if you are not satisfied with the policy benefits and terms. This is possible during the freelook period of 30 days from the date of receiving the policy documents.

Freelook period

You can return the policy and get a premium refund if you are not satisfied with the policy benefits and terms. This is possible during the freelook period of 30 days from the date of receiving the policy documents.

Why Choose SUD Life Centurion?

SUD Life Centurion is the ideal life insurance plan for you because:

It pays a lump sum benefit on death or maturity
Only a single premium is required to buy the plan
It offers financial protection against the risk of early death
Loans under the plan can give you the necessary funds in emergencies
You can enjoy tax benefits both on the premiums paid and the benefits received
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, minor lives are covered from the policy's inception date without restrictions. Policy will automatically vest in the life assured upon attainment of his/her majority i.e. 18 Years.

There is a suicide exclusion under the SUD Life Centurion Plan. If the life assured commits suicide and dies from the date of commencement of risk under the policy the nominee or beneficiary of the policyholder shall be entitled to at least 80% of the single premium paid or the surrender value available as on the date of death whichever is higher, provided the policy is in force.

Yes, you have to pay interest on the amount of loan borrowed from the policy.

The available tax benefits are as follows -

  • The premium paid will be allowed as a deduction of up to ₹1.5 lakhs under Section 80C of the old tax regime.
  • The death benefit received will be completely tax-exempt
  • The maturity benefit will also enjoy tax exemption under Section 10(10D), subject to specified terms and conditions.

If you do not pay the premium on the due date, you get a grace period for premium payments. The coverage stays active during the grace period, and the policy does not lapse. The grace period is 15 days for the monthly premium payment mode and 30 days for all other modes.

Disclaimers

Star Union Dai-ichi Life Insurance Company Limited is the name of the Insurance Company and “SUD Life Centurion” 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 Centurion | UIN:142N101V02 | A Non-Linked Non-Participating Individual 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 read sales brochure carefully before concluding a sale. 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 are requested to lodge a police complaint.