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SUD Life Protect Shield

A shield for your family during uncertain times

Secure your loved ones with SUD Life Protect Shield by simply paying
Premium
For
Life Cover
L - Return of Premium Till

Choose from 3 benefit options –

Life Cover.

Life Cover with Return of Premium

Life Cover with Critical Illness.

*Name as per ID proof like Aadhar,PAN etc
+
Male
Male Female Third
Post Graduate Graduate Diploma 12th Passed
Private Sector Service Public Sector Service Government Service Business - Proprietor Partnership Professional Self Employed

Key benefits of SUD Life Protect Shield

Multiple benefits

Get Death Benefits, Guaranteed Maturity Benefit1 and Critical Illness Benefit2

Multiple payout options

Lumpsum, Monthly income and Lumpsum plus monthly income payout options available

Rider available

Option to choose SUD Life Accidental Death and Total & Permanent Disability Benefit Rider#

Critical illness benefit

Protection against 40 critical illness.

Income tax benefits

Why Choose SUD Life

21,613 Cr

Assets Under Management
as on Sep’23

11,300+ Cr

Benefits Paid till
Sep’23

2.90 Days

Average claim settlement
time

How does the plan work?

Let us understand this with an example:

Rohit, aged 35, has opted for SUD Life Protect Shield plan.

He chooses Sum Assured of Rs 50 lacs, policy term of 30 years with premium payment term as regular pay.

He opts for Life Cover with Return of Premium & Lumsum payout option to receive the Death Benefit.

We are happy to help you

Need help?

Our experts are happy to answer any questions you may have.

Call us at

1800 266 8833

Call centre hours -

Monday to Saturday
09:00 AM to 7:00 PM

Frequently asked questions

1.What are the Benefits Options available under SUD Life Protect Shield?

SUD Life Protect Shield has 3 benefit options

  • - Benefit Option 1- Life Cover.
  • - Benefit Option 2- Life Cover with Return of Premium.
  • - Benefit Option 3-Life Cover with Critical Illness.
2.Are there any age restriction while applying for this plan?

The Life Assured should be at least 18 years of age* and not more than 55 years of age* while applying for this plan.

The maximum age* at Maturity is 80 years (70 years in case of Benefit Option 2- Life cover with Return of Premium). (*age last birthday)

3.How long will the plan be active & for how long do I need to pay my Premiums?

This plan offers you the flexibility to choose from various policy terms and premium paying terms.

Premium Payment Term Policy Term (years)
15 Pay 20 to 40
5 Pay, 7 Pay, 10 Pay, 12 Pay and Regular Pay 15 to 40
4.Are there any restrictions on the Sum Assured?

Yes, please see the below table for the sum assured restrictions.

Options Minimum Sum Assured Maximum Sum Assured
Benefit Option 1 - Life Cover 50 Lakh 50 Lakh
Benefit Option 2 - Life Cover with Return of Premium 50 Lakh 1.5 Crore
Benefit Option 3 - Life Cover with Critical Illness 50 Lakh 5 Crore

Sum Assured should be multiple of Rs. 25 Lakh.

Critical Illness (CI) Sum Assured will be 10% of Basic Sum Assured (i.e. Rs. 5 lakhs).

5.What are the Premium Payment modes available?

The Premium Payment modes available under this plan are Yearly, Half-Yearly, Quarterly*, and Monthly*.

*Monthly and quarterly modes are only through ECS/SI

6.What is the Death Benefit under this plan?

Death Benefit - In case of death of the life assured, during the policy term, Sum Assured on Death will be paid to the nominee as per the death benefit payout option chosen. The policy will be terminated, and no further benefits will be paid. Sum Assured on Death is Highest of

  • - 10 times of Annualized Premium OR
  • - 105% of total premium paid as on date of death OR
  • - Absolute amount assured to be paid on death (i.e. Basic Sum Assured)
7.What is the Maturity Benefit under this plan?

On survival of Life Assured till the end of the policy term provided the policy is in-force, total premiums paid will be refunded as Guaranteed Maturity Benefit. The maturity benefit is payable only in case of Benefit Option 2 Life cover with Return of Premium, is opted.

8.What are the Critical Illness Benefit under this plan? (Applicable only for Benefit Option 3- Life Cover with Critical Illness (CI))

In case the Life Assured is diagnosed with any of the 40 Critical Illness covered under the plan then subject to policy being in force and life assured surviving the survival period, 100% of the CI Sum Assured will be paid. The policy will continue for life cover till the end of the Policy Term as fully paid and in-force policies and no premiums are required to be paid under the policy provided all due premiums before the incident occurred have been paid.

The Critical Illness benefit will be paid subject to the following conditions:

(a) Critical Illness is diagnosed after a Waiting Period of 90 days from the Date of Commencement of Policy or policy Revival date, whichever is later except in cases where the Critical Illness occurs as a result of an accident; and

(b) Life Assured survives the Survival Period of 15 days. Survival period refers to the period from the diagnosis and fulfillment of the definition of the conditions covered which the Life Assured must survive before the benefit will be payable. In case the Life Assured is diagnosed with any of the defined Critical Illness during the Waiting Period, then no Critical Illness benefits as defined above will be paid however the Company will pay an amount equals to unexpired risk premium value in lumpsum and the policy will terminate.

9.What are the death payout options available under this plan?

Death Benefit Payout Option-

The plan offers a choice of three different Payout options. The death benefit will be paid as per the Payout option chosen by the Life Assured at the policy inception:

1. Lump sum: The death benefit will be paid immediately in Lump sum to the Nominee/ Beneficiary.

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

3. Lump sum plus Monthly income: 50% of the death benefit will be paid immediately as lumpsum 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 subsequent policy month anniversary following the date of death.

10.Does this policy provide any tax benefits?

Yes. This policy provides Income Tax benefits under Section 80(C) and 10(10D) of the Income Tax Act, 1961, subject to conditions stipulated therein. We recommend you consult your tax advisor for details.

11.Are there any Riders available?

Yes. The following rider is available under this Plan.

SUD Life Accidental Death and Total & Permanent Disability Benefit Rider -Traditional (UIN: 142B005V01)

(Please note the rider is available only under Benefit Option 1 & 3)

12.What happens in case of missed premiums?

Policy Holder is allowed a grace period of 30 days in case premium payment mode is quarterly, half-yearly or yearly mode and 15 days in case of monthly mode to pay the due premium. In case of death/CI during grace period, the Death Benefit/CI Benefit under the policy will be payable after deductions of the premiums then due and all premiums falling due during the policy year of death/CI.

13.What happens once your policy Lapses?
Benefit Option Lapse
Benefit Option 1 Life Cover Policy will lapse and cover ceases immediately if the due premiums are not paid within the grace period.
Benefit Option 2 Life Cover with Return of Premium Policy will lapse if the due premiums are not paid for the first two consecutive full years within the grace period
Benefit Option 3 Life Cover with Critical Illness Policy will lapse and cover ceases immediately if the due premiums are not paid within the grace period.

Terms and Conditions

SUD Life Protect Shield | UIN - 142N085V02 A Non-Linked Non -Participating Individual Term Life Insurance Plan

*On survival of Life Assured till the end of policy term, the total premiums Paid i.e. total of all the premiums received, excluding any extra premium, any rider premium and taxes, will be returned.

# Provided all due premiums before the incident occurred have been paid by the Life Assured, the policy continues as fully paid and inforce policy. The CI benefit is subject to fulfilment of critical illness as defined, survival period and waiting period.

Critical Illness benefit is available under 40 CI’s covered under the plan. Kindly refer to the sales brochure or Policy document of this product hosted on our website for the list of critical illness, its definitions and exclusions.

Sum Assured should be multiple of Rs. 25 Lakh. Critical Illness (CI) Sum Assured will be 10% of Basic Sum Assured (i.e. Rs. 5 lakhs).

For more details on risk factors, terms and conditions please refer to the sales brochure carefully before concluding the sale.

Star Union Dai-ichi Life Insurance Company Limited | IRDAI Regn. No: 142 | CIN: U66010MH2007PLC174472

Registered Office: 11th Floor, Vishwaroop I.T. Park, Plot No. 34, 35 & 38, Sector 30A of IIP, Vashi, Navi Mumbai-400 703 | Contact No: 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. Trade-logo displayed belongs to M/s Bank of India, M/s Union Bank of India and M/s Dai-ichi Life Holding Inc. and are being used by Star Union Dai-ichi Life Insurance Co. Ltd. under license.

Beware of Spurious/Fraud Phone calls - IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.