SUD LifeInsurance
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About SUD Life Insurance

Star Union Dai-ichi Life Insurance, founded in 2009 is a joint venture between two public sector banks- Union Bank, Bank of India, and a Japanese insurance partner Dai-ichi Life Holdings. SUD offers various life insurance plans including term plans, saving plans, wealth plans, child plans, and retirement plans covering every aspect of financial requirements.

Star Union Life Insurance Company has a PAN India presence with 15,000 bank branches of which 1950 branches are in rural areas making insurance accessible for rural people. Dai-chi Life was founded in Japan in 1902 and established itself as one of the top ten life insurers globally with a good hold over the insurance business. With over 10 million customers around the world Star Union Life Insurance Company is one of the leading insurance companies.

Awards and Achievements of Star Union Life Insurance Company

Here are some of the notable awards and achievements of Star Union Daichi Life Insurance:

  • Awarded as 'Bancassurance Leader of the Year' by Indian Insurance Awards in 2014.
  • Won 'Best Life Insurance Company in Private Sector' by ABP News at the BFSI Awards in 2015.
  • SUD Life was awarded the 'Claims Service Leader Award' by the Indian Insurance Awards in 2015.
  • 'Life Insurance Company of the Year' in 2015.
  • ASSOCHAM awarded SUD Life Insurance with the 'Corporate Governance Excellence Awards' in 2015.
  • Awarded with 'Golden Peacock Award for Excellence in Corporate Governance' by the Institute of Companies Secretaries in 2017.
  • 'National Award for Excellence in Corporate Governance' in 2020.
  • SUD Life was awarded with 'APAC Gartners Innovation Awards' by Gartner Inc. in 2020.

Key Features of SUD Life Insurance Company Ltd.

SUD Life Insurance provides hassle-free services to its customers. Let's understand its performance with the help of various features:

  • Solvency Ratio

    Star Union Life Insurance has a good solvency ratio of 2.2. It is necessary to look for the solvency ratio as it helps you assess the insurer's financial stability so that your claims are settled hassle-free. As per IRDA, an insurer must have a solvency ratio of 1.5.
  • Claim Settlement Ratio

    Star Union has a claim settlement ratio of 97.42%, as per IRDA reports 2022-23. The claim settlement ratio indicates the number of claims settled by insurance companies out of the total claims received in a particular financial year.
  • Annual Premiums

    As per IRDA reports SUD Life Insurance received total annual premiums of Rs 5746.37 crore in 2022-23.
  • PAN India Presence

    Star Union Daichi Life Insurance has a PAN India presence with a strong network of 15,000 partner bank branches. If you have any queries or want to raise a claim you can visit the nearest branch.

SUD Life Insurance Plans

SUD Life Insurance Company Ltd offers various insurance plans. These plans are designed to fulfill the needs of individuals of different age groups and financial situations. You can choose a plan that suits your financial needs.

  1. Term Plans

    Plan Name Entry Age Tenure Minimum Sum Assured
    SUD Life Saral Jeevan Bima Entry Age - 18 Years
    Maximum Age-65
    5 to 40 years Rs. 5,00,000
    SUD Life Protect Shield Entry Age - 18 Years
    Maximum Age-55
    15 to 40 years Rs. 50,00,000
    SUD Life Protect Shield Plus Entry Age - 18 Years
    Maximum Age-60
    5 to 40 years Rs. 1,00,00,000
  2. Saving Plans

    Plan Name Entry Age Tenure Minimum Sum Assured
    SUD Guaranteed Money Back Plan Entry Age - 13 Years
    Maximum Age-50
    10 to 20 years Rs. 3,00,000
    SUD Life-Praptee Entry Age - 8 Years
    Maximum Age-50
    12 to 18 years Rs. 2,50,000
    SUD Life Aadarsh Entry Age - 8 Years
    Maximum Age-55
    10 years Rs. 50,000
    SUD Life Aayushmaan Entry Age - 18 Years
    Maximum Age-50
    15 to 30 years Rs. 1,50,000
    SUD Life Samriddhi Entry Age - 8 Years
    Maximum Age-55
    15 to 25 years Rs. 3,00,000
    POS- SUD Life Sanchay Entry Age - 18 Years
    Maximum Age-45
    10 years Rs. 96,000
    SUD Life- Akshay Entry Age - 25 Years
    Maximum Age-50
    40 to 50 years Rs. 5,00,000
    SUD Life Century Royale Entry Age - 18 Years
    Maximum Age-55
    25 to 45 years 10 times of Annual Premium
    SUD Life Fortune Royale Entry Age - 30 Years
    Maximum Age-55
    11 to 25 years Rs. 5,25,000
    SUD Life Century Gold Entry Age - 18 Years
    Maximum Age-60
    15 to 22 years Rs. 10,50,000
    SUD Life Century Income Entry Age - 18 Years
    Maximum Age-60
    15 to 25 years Rs. 5,00,000
    SUD Life Centurion Entry Age - 18 Years
    Maximum Age-45
    8.33 years or 100 months Rs. 10,00,000
  3. Investment Plans/ ULIPs

    Plan Name Entry Age Tenure Minimum Sum Assured
    SUD Life e-Wealth Royale Entry Age - 10 Years
    Maximum Age-35
    20 years Rs. 5,00,000
    SUD Life Elite Assure Plus Entry Age - 18 Years
    Maximum Age-55
    15/ 21 years 40 times of monthly payout
    SUD Life Century Plus Entry Age - 8 Years
    Maximum Age-50
    10 to 16 years Rs. 10,00,000
    SUD Life Wealth Creator Entry Age - 8 Years
    Maximum Age-55
    10 to 30 years 10 times Annual Premium
    SUD Life Century Star Entry Age - 8 Years
    Maximum Age-55
    12 to 16 years Rs. 5,00,000
    SUD Life Wealth Builder Plan Entry Age - 8 Years
    Maximum Age-60
    5 to 30 years 125% of Premium
  4. Child Plans

    Plan Name Entry Age Tenure Minimum Sum Assured
    SUD Life Aashirwaad Entry Age - 18 Years
    Maximum Age-50
    10 to 20 years Rs. 5,00,000
  5. Retirement Plans

    Plan Name Entry Age Tenure Minimum Sum Assured
    SUD Life Assured Income Plan Entry Age - 10 Years
    Maximum Age-35
    8 to 55 years Rs. 24,000
    SUD Life Guaranteed Pension Plan Entry Age - 35 Years
    Maximum Age-65
    5 to 20 years -
    SUD Life Immediate Annuity Plus Entry Age - 0 Years
    Maximum Age-60
    10 to 20 years -
    SUD Life Saral Pension Entry Age - 40 Years
    Maximum Age-80
    Whole Life Life Annuity+100%ROP
    SUD Life Retirement Royale Entry Age - 25 Years
    Maximum Age-65
    10 to 40 years Rs. 2,63,550

How to Buy SUD Life Insurance Plans?

You can buy SUD Life Insurance Plans through various means. You can buy a policy either from PolicyX.com or through the SUD Life website. Moreover, insurance brokers and agents also offer SUD Life Insurance Plans. Below is the process to purchase these plans.

Through PolicyX.com

  • Visit the official website of PolicyX.com.
  • Hover over 'Term Insurance' and click on 'Term Insurance Calculator'.
  • A new interface will appear on the screen.
  • On the top of the page fill in your age, gender, city, annual income, etc.
  • Fill in other details such as education qualifications, occupation, smoking habits, etc.
  • It will show various plans based on the provided information.
  • Select the plan you want to buy and add additional riders if required.
  • Once you make the payment you will receive a confirmation mail.

Steps to buy from Bandhan Life Insurance Official Website

  • Visit the official website of SUD Life Insurance Company Ltd.
  • Click on 'Buy Online' from the top of the page.
  • Select the category of the plan (Saving/ Protection/ ULIPs/ Retirement/ Child Plans) you want to buy
  • Click on 'Buy Now' and fill in basic details such as name, email, and mobile number.
  • Fill basic details such as age, gender, income, etc.
  • Once you make the payment you will receive policy documents and premium receipt.

How to File SUD Life Insurance Claims?

SUD Life has a simple and hassle-free claim process. It follows a 3-step claim process. You can easily file a claim either online or offline.

Claim Intimation

You can inform Star Union Daichi Life Insurance about your claim using the following means:

  1. Through Official Website

    You can visit the official website of SUD Life Insurance and raise your claim request.

  2. By Calling

    You can call at SUD Life Insurance Toll-free number 1800-266-8833 from Monday to Saturday between 9:00 A.M. to 7:00 P.M.

  3. Through Email

    You can email customercare@sudlife.in along with your policy documents to raise the claim request.

  4. Through Branch Visit

    You can visit the nearby branch of SUD Life along with your policy documents to raise your claim request

Claim Processing

Once SUD Life receives your claims they will verify all the details. Moreover, they can ask you for any additional documents if required. SUD Life will send you a claim reference number after verifying the submitted documents.

Claim Decision

After completing all the formalities, the company will communicate the claim decision with you. If the claim is accepted they will send the amount to the bank account submitted. Moreover, if the claim is rejected by SUD Life Insurance they will communicate the reason.

How to Contact SUD Life Insurance?

11th Floor, Vishwaroop I.T. Park, Plot No. 34, 35 & 38, Sector 30A of IIP, Vashi, Navi Mumbai - 400703

customercare@sudlife.in

Toll-Free 1800 266 8833 Monday to Saturday: 09:00 AM to 07:00 PM
WhatsApp 7208867122

SUD Life Insurance Plans: FAQs

1. What is the full form of SUD Life Insurance?

SUD Life Insurance stands for Star Union Daichi Life Insurance. It is a joint venture between two leading banks- Indian Bank and Union Bank and Daichi Holdings- a Japanese insurance company.

2. What is the claim settlement ratio of SUD Life?

As per IRDA reports for 2022-23, SUD Life has a claim settlement ratio of 97.42%.

3. How to check the SUD Life Policy Status?

You can check your SUD Life Policy Status by calling, sending mail, or visiting a nearby branch.

4. What plans are offered by Star Union Daichi Life Insurance?

Star Union Daichi Life Insurance offers various plans including Term Plans, Child Plans, Retirement Plans, ULIPs, and Saving Plans.

5. How to contact SUD Life Insurance?

You can contact SUD Life Insurance by calling 1800-266-8833, sending an email to customercare@sudlife.in, or visiting a nearby branch.

6. What is the claim settlement process of SUD Life Insurance?

SUD Life follows a simple 3-step claim process- Claim Intimation, Claim Processing, and Claim Decision.

7. What is the free look period in SUD Life Insurance?

A free look period is the period provided by the insurance company to the policyholder to understand the policy they bought. They can cancel their policy in this period without paying charges.

8. What is the benefit of buying SUD Life Policy Online?

Buying a SUD Life Insurance Policy online can help you eliminate middlemen or insurance brokers' charges.

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What Our Customers Have to Say

Customer Review Image

Sanjeev

Hyderabad

May 20, 2024

SUD Life term plan truly stands out my expectations as I got SUD Life term plan along with additional riders at very affordable premiums.

Customer Review Image

Sumit

Coimbatore

May 20, 2024

I am impresses with the hassle free and quick claim settlement process of SUD Life. Thanks to PolicyX who guided me to get my claim settled.

Customer Review Image

Barkha

Delhi

May 20, 2024

Bought SUD Life Family Income Benefit Rider plan to secure the future of my plan financially even in my absence.

Customer Review Image

Geetanjali

Kolkata

May 20, 2024

I was looking for a term plan to secure the future of my family. So I contacted PolicyX and one of their representatives Mr. Vaibhav helped me choose SUD Life term plan.

Customer Review Image

Ramesh

Gandhinagar

May 20, 2024

I am writing this review to thank PolicyX for helping me out to choose a right SUD Life term plan that suits my requirements. Three months have passed since I purchase the plan and I am satisfi...