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SUD Life Smart Term

UIN:142N096V01

A Non-Linked Non-Participating Pure Risk Premium Individual Life Insurance Plan

First Year Premium
After Applicable Discounts
Life Cover
L Till
*Name as per ID proof like Aadhar,PAN etc
+

Increase cover at life events-policy rules and premiums may apply.

Gender
Applied 10% Discount as a Female for the Period of Lifetime
Male
Male Female Third
First Time Life Insurance Buyer*
Applied 5% Discount as a First Time Buyer for the Period of 1stpol year
Are you SUD Staff?*
Applied 10% Discount as a SUD Staff for the lifetime
Occupation*
Applied 5% Discount as a Salaried for the Period of 1st pol year
Private Sector Service Public Sector Service Government Service Business - Proprietor Partnership Retired Agriculturist Professional Self Employed
Existing SUD Policy Holder*
Applied 5% Discount as a SUD Policy Holder for the Period of 1stpol year

What is SUD Life Smart Term Plan?

SUD Life Smart Term Plan is a term life insurance plan which is available to all individuals looking for financial protection at an attractive premium. This plan provides life cover to an individual and death benefit is payable in case of unfortunate death as per the option chosen i.e Lumpsum, Monthly Income, & Lumpsum plus Monthly Income. The policy duration i.e. the policy term and premium payment options in this product are flexible. The Policyholder will have to choose the base Sum Assured, Premium Payment term (PPT), Policy Term (PT), life stage upgrade option at the time of buying this product and the Premium will be calculated based on Age at entry, Gender, base sum assured, PT, PPT and, other factors such as source of income i.e. whether salaried or not, whether buying insurance for first time or existing policyholder of SUD Life etc.

How does the SUD Life Smart Term Plan Work?

01.

Once you buy the SUD Life Smart Term Plan, you must choose the following details: Sum assured, Policy Term.

02. Premium

The premium payment frequency of this plan is Yearly/ Half-Yearly/ Quarterly/ Monthly. The premium payment term options are 7/ 10, 15 Years or Regular Pay (where Premium Payment Term aligns with Policy Term chosen). The premium amount is decided based on the life insured’s age, policy term and the sum assured.

03. Death Benefit

On Death of Life Assured during the policy term, Death Benefit is payable provided the policy is inforce. The Death Benefit will be highest of: 

  • 10 times of Annualized Premium* OR 
  • 105% of Total Premium Paid** as on the date of death of Life Assured OR
  • Absolute amount assured to be paid on death

{i.e. Base Sum Assured as selected by the policyholder at inception of the policy plus incremental Sum Assured approved under the Life Stage upgrade, if any}

04. Maturity Benefit

As this is a pure risk product, no maturity benefit will be payable on survival at policy maturity. The policy will terminate. 

Let’s understand with an example :

Mr. Rohit, self employed and a non smoker and has opted for SUD Life Smart Term Plan. The details are as below
Life Assured Age - 30 years
Premium Frequency - Yearly
Policy Term - 40 years
Premium Paying Term - 40 years
Base Sum Assured (SA)) - 1,00,00,000
Annualised Premium - 12,732 (exclusive of applicable taxes)

In the above scenario, no discount has been applied or life stage upgrade has not been exercised by the Policyholder.


Download Plan Related Documents

Detailed information available for download

Product Brochure (Prospectus)
Policy Document

Eligibility Criteria

Parameters Minimum Maximum
Entry Age 18 Years 65 years
Maturity Age 28 Years 85 Years
Sum Assured on Death ₹ 25,00,000 lakhs As per BAUP*
Premium Payment Term Regular Pay | 7 | 10 | 15 years
Policy term
PPT PT
Regular Pay 10 – 50 Years
7 Years 10 – 50 Years
10 Years 15 – 50 Years
15 Years 20 – 50 Years

Minimum 18 years
Maximum 65 years

Minimum 28 years
Maximum 85 years

Minimum ₹ 25,00,000
Maximum As per BAUP*

Regular Pay | 7 | 10 | 15 years

PPT PT
Regular Pay 10 – 50 Years
7 Years 10 – 50 Years
10 Years 15 – 50 Years
15 Years 20 – 50 Years

SUD Life Smart Term Plan Benefits

Here are the benefits that you get from the plan

Death benefit
View Details

The Death Benefit will be payable as per the option chosen by the Policyholder at the inception of the Policy. The following options are available for payment of death benefit:

1. Lump Sum: Under this option, the Death Benefit will be paid in lump sum immediately.

2. Monthly Income: Under this option, Monthly Income Benefit of 1% of the Death Benefit will be paid every month for a fixed period of 125 months, starting from next policy month anniversary following the date of death of the Life Assured.

3.Lump Sum plus Monthly income: Under this option, 50% of the death benefit will be paid as lump sum immediately and Monthly Income Benefit of 0.50% of the Death Benefit will be paid every month for a fixed period of 125 months, starting from next policy month anniversary following the date of death of the Life Assured.

Death benefit

The Death Benefit will be payable as per the option chosen by the Policyholder at the inception of the Policy. The following options are available for payment of death benefit: 

2. Monthly Income: Under this option, Monthly Income Benefit of 1% of the Death Benefit will be paid every month for a fixed period of 125 months, starting from next policy month anniversary following the date of death of the Life Assured.

3.Lump Sum plus Monthly income: Under this option, 50% of the death benefit will be paid as lump sum immediately and Monthly Income Benefit of 0.50% of the Death Benefit will be paid every month for a fixed period of 125 months, starting from next policy month anniversary following the date of death of the Life Assured.

Life Stage Upgrade
View Details

There are certain events in Life where by Life Assured responsibility increases like Marriage, Birth of Child/ Children, Education loan for children, home loan etc. 

Life Stage Upgrade

There are certain events in Life where by Life Assured responsibility increases like Marriage, Birth of Child/ Children, Education loan for children, home loan etc. 

Discounts
View Details

The plan offers multiple discounts in order to increase insurance uptake and increase insurance penetration. The various discounts offered are mentioned below: 

1. First Time Insurance Buyers Discount: This product offers a 5% discount on the First Year Annualized Premium for first-time life insurance buyers to make insurance more accessible and encourages those who haven’t previously purchased coverage to get insured.

2. Salaried Discount: This product offers a 5% discount on the First Year Annualized Premium for Salaried customers.

3. Female Life Discount: This product offers a 10% discount on the Annualized premium for female lives.

4. Existing SUD Life Policy Holder: This product offers a 5% discount on the First Year Annualized Premium for existing policyholders of SUD Life. The policy should be in in-force status at the time of policy inception.

Discounts

The plan offers multiple discounts in order to increase insurance uptake and increase insurance penetration. The various discounts offered are mentioned below: 

1. First Time Insurance Buyers Discount: This product offers a 5% discount on the First Year Annualized Premium for first-time life insurance buyers to make insurance more accessible and encourages those who haven’t previously purchased coverage to get insured.

2. Salaried Discount: This product offers a 5% discount on the First Year Annualized Premium for Salaried customers.

3. Female Life Discount: This product offers a 10% discount on the Annualized premium for female lives.

4. Existing SUD Life Policy Holder: This product offers a 5% discount on the First Year Annualized Premium for existing policyholders of SUD Life. The policy should be in in-force status at the time of policy inception.

Why choose SUD Life Smart Term Plan?

SUD Life Smart Term Plan is the ideal option for you because of the following points

It financially safeguards your family in case of your untimely demise.
You get multiple discounts if you are a first time insurance buyer, plus if you are a salaried employee, and also for females. Existing policyholders get additional discount.
You can avail of benefits on premiums under tax laws.
Purchasing the plan online will give you further discounts.
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)

A grace period of 15 days, where the Life Assured pays the premium on a monthly basis, and 30 days in all other cases will be allowed. If death occurs during the grace period, the Death Benefit under the policy will be paid after deductions of the premiums then due and all premiums falling due and unpaid during the policy year of death.

If you have missed paying your premiums within the grace period, for Regular Premium Policies, policy will Lapse if due premiums are not paid within grace period. For Limited Premium Payment Term Policies, If the due premiums have not been paid within the grace period, the policy lapses. The Policy Cancellation Value, will be payable provided first two (2) consecutive Policy Years’ full Premium have been paid.

You can revive your Lapsed policy within five years from the due date of the first unpaid premium by following these simple steps:

  • Giving a written request to the Company within 5 years from the due date of first unpaid premium and producing a proof of continued insurability
  • Paying the outstanding premium amount with the applicable interest rate, currently 8.25% p.a. compounded on half yearly basis for FY 25-26
  • Fulfilling all medical and financial requirements as required by the Company as per the Board approved underwriting policy (the cost of medical examination, if any, will be borne by you i.e. policyholder/ Life Assured).

No, there is no surrender benefit available under this plan.

If you disagree to any of those terms or conditions in the policy, you have an option to return the policy to us within 30 days from the date of the receipt of the policy document. In this case we will return your premium as follows – Premium paid less: i. Proportionate risk premium for the period on cover ii. Expenses incurred by us on medical examination, if any iii. Stamp duty charges.

No, there are no riders available under this plan.

Star Union Dai-ichi Life Insurance Company Limited is the name of the Insurance Company and “SUD Life Simple Term Plan” 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 Smart Term Plan| UIN - 142N095V01 |A 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. SUD Life Simple Term Plan is a pure term plan and does not offer any maturity benefits

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.
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