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SUD Life Centurion

SUD Life Centurion is a Non-Linked Non-Participating Individual Savings Life Insurance plan. This plan offers a combination of protection and savings benefits to safeguard family members from any unfortunate event and help the policyholders in their financial planning to receive a lump sum at maturity.

Increase your savings by X on a one-time investment of amount
You Give
You Get times
IRR – 7.26 % in months
This plan is right for you if:
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Key benefits of SUD Life Centurion

Money is secured & grows irrespective of market conditions

Flexibility to choose premium amount & Plan option

Available through Online Channel

Loan Benefit – Loan against policy in emergency situations

Avail Tax Benefits^

^As per prevailing norms under the Income Tax Act, 1961 as amended from time to time.

Why Choose SUD Life

21,613 Cr

Asset Under Management
as on Sep’23

1.26 Cr

Lives Covered
as on Sep’23

18,000+

Distribution Points
as on Sep’23

How does the plan work?

Benefit explained with Example:

Illustration: Option 01

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 1,79,314 (exclusive of applicable taxes)
Single Premium 1,00,000 (exclusive of applicable taxes)

Illustration: Option 02

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 1,64,390 (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:
On unfortunate death of the Life assured during 20th policy month, nominee or beneficiary will get death benefit as:

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Frequently asked questions

1.What is Single Premium Payment Term?

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

2.How much minimum premium I can pay?

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.

3.What is the Policy Term available?

This plan has fixed Policy Term of 100 months.

4.What is the maximum Sum Assured available in this Plan?
Option Minimum Sum Assured Maximum Sum Assured
1 Rs. 1,25,000 As per Board Approved Underwriting Policy
2 Rs. 10,00,000 50,00,000

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.

5.What is the minimum and maximum entry age?

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

6.How old should I be when a policy would mature?

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.

7.When will the risk commence on a Minor life?

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.

8.How many Options are available in this product?

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

9.Are there any rider available in this Plan?

No, there is no rider available.

10.How is the maturity benefit paid in this plan?

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.

11.What is death Benefit under this Plan?

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

12.Can you surrender the Policy?

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).”

13.Is there any loan available in this product?

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

14.Can SUD Life Centurion plan help to save tax?

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.