In Single Premium Payment Term, the entire insurance premium is paid in one lump sum / single pay for the entire coverage period.

The minimum Single Premium is Rs. 1,00,000 and maximum premium for Option 1 is as per Board Approved Underwriting Policy and for Option 2 is Rs. 5,00,000.

This plan has fixed Policy Term of 100 months.

Sum Assured on death in case of Option 1 is 1.25 time of Single Premium and in Option 2, it is 10 times of Single Premium.

The minimum entry age is 10 years, and the maximum entry age is 65 years for Option 1 and 40 years for Option 2

The minimum age of the Life Assured at policy maturity should be 18 years. But the maximum age should not exceed 74 years. The Age is as on last birthday.

For minor life, the risk commencement date is same as policy commencement date. Policy will automatically vest in the life assured upon attainment of his/her majority i.e., 18 Years.

This product provides two options. The policyholder has to select any one option while purchasing the product. The two options are:

Option 1: Sum Assured on Death = 1.25 times of Single Premium

Option 2: Sum Assured on Death = 10 times of Single Premium

No, there is no rider available.

On survival till the end of policy term, Guaranteed maturity benefit will be paid, provided the policy is in force and the contract ceases immediately. Guaranteed maturity benefit is calculated as per the below formula.

Guaranteed Maturity Benefit = Single Pay X GMB Factor, wherein the GMB Factor depends on entry age & Option chosen.

For Option 1: Death Benefit is Highest of: Sum Assured on Death i.e., 1.25 times of the Single Premium OR Surrender Value as on Date of Death

For Option 2: Death Benefit is Highest of: Sum Assured on Death i.e., 10 times of the Single Premium OR Surrender Value as on Date of Death

Yes, the policy can be surrendered anytime during the policy term. Surrender Value payable would be higher of “Guaranteed Surrender Value (GSV)” and “Special Surrender Value (SSV).”

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

Yes, SUD Life Centurion plan helps in saving tax. The premiums paid are eligible for deduction under Section 80C and the Maturity amount subject to conditions prescribed u/s 10(10D) of the Income Tax Act, 1961, as amended from time to time.