SUD Life Term Insurance Plans

SUD Life Term Plans are designed to protect your family financially even in your absence. It is a reputed and trusted name in the insurance sector. SUD Life Term Plan offers a range of benefits including affordable premiums, high sum assured, flexible payout options, longer coverage, etc. These plans come with additional rider benefits including Accidental Death and Total and Permanent Disability Rider and Family Income Benefit Rider. You can choose a life cover ranging from 5 lakhs to 5 crores as per your financial needs and requirements.

Term Plans Offered by SUD Life

SUD Life offers three types of term plans to meet the needs and demands of their customers.

SUD Life Saral Jeevan Bima

SUD Life Saral Jeevan Bima is a simple term insurance plan that provides guaranteed death benefits to your loved ones in case of your unfortunate demise. No maturity benefits are involved with this plan.

Eligibility Criteria

Parameters	Limits
Entry Age	Minimum-18 Maximum-65
Maturity Age	70
Policy Tenure	5 to 40 years
Premium Paying Term	Single, Regular, 5, and 10 Pay
Sum Assured	Minimum-5 lakhs Maximum-25 lakhs

SUD Life Protect Shield

SUD Life Protect Shield is a Term Plan with a Return on Premium Option (TROP) with guaranteed death benefits and a critical illness cover. You will get all your premiums back on the maturity date. This plan offers you three benefits to choose from: Life Cover, Life Cover with Return of Premium, and Life Cover with Critical Illness.

Eligibility Criteria

Parameters	Limits
Entry Age	Minimum-18 Maximum-55
Maturity Age	80
Policy Tenure	5 to 40 years
Premium Paying Term	Regular, 5, 7, 10, 12 and 15 Pay
Sum Assured	Minimum-50 lakhs Maximum-5 crore

SUD Life Protect Shield Plus

SUD Life Protect Shield Plus is a non-linked term insurance plan that offers financial protection to your family in case of your unfortunate demise. This plan provides flexibility to choose policy terms, premium payment terms, and sum assured.

Eligibility Criteria

Parameters	Limits
Entry Age	Minimum-18 Maximum-60
Maturity Age	80
Policy Tenure	5 to 40 years
Premium Paying Term	Single, Regular, 5, 7, 10, 12 and 15 Pay
Sum Assured	Minimum-1 crore Maximum-2 crore

Additional Riders Offered By SUD Life Insurance

Riders are essential to provide you with additional coverage from unfortunate events such as accidents, critical illness, etc. You can add these riders to your term plans at an additional cost to enhance the coverage.

SUD Life Accidental Death and Total and Permanent Disability Rider

SUD Life Accidental Death and Total and Permanent Disability Rider is an add-on benefit you can add to your base plan. The benefits are offered by the insurance company in two events:

Death due to accident
If the policyholder dies in the accident 100% of death benefits are provided to their nominee after verifying the claims.
On total and permanent disability
If the policyholder faces total or permanent disability due to an accident they are provided with a sum assured in 10 equal half-yearly installments. Moreover, if the policyholder passes away the rest amount is paid to their nominee.

Eligibility Criteria

Parameters	Limits
Entry Age	Minimum-18 Maximum-65
Maturity Age	71 or End of base plan
Policy Tenure	5 to 47 years
Premium Paying Term	Single, Regular, Limited
Sum Assured	Minimum-10,000 Maximum-50 lakhs
Annual Premium	Minimum- 8 Maximum- 71,300

SUD Life Family Income Benefit Rider

SUD Life Family Income Benefit Rider is an additional rider that provides your family with guaranteed income for 10 years in the event of your demise. This rider is beneficial if you want a guaranteed income plan for your loved ones for a certain tenure.

Eligibility Criteria

Parameters	Limits
Entry Age	Minimum-18 Maximum-60
Maturity Age	65 or End of base plan
Policy Tenure	5 to 30 years
Premium Paying Term	Single, Regular, Limited
Sum Assured	Minimum-1 lakh Maximum-50 lakhs

Why Should You Choose SUD Life Term Plans?

There are various factors due to which SUD Term Plans are the right choice for you.

Good Claim Settlement Ratio
SUD Life has a good claim settlement ratio of 97.42%. The claim settlement ratio defines the number of claims settled by SUD Life out of the total received claims. You should check this ratio while choosing an insurance company.
Good Solvency Ratio
SUD Life has a good solvency ratio of 2.2. This ratio indicates whether the insurance company has enough assets to pay its claims. According to IRDAI, any insurance company must have a solvency ratio of 1.5
Additional Riders
Riders are essential to enhance the overall coverage. SUD Life Insurance Company offers you to choose from additional riders with your base plan. It offers two riders- SUD Life Accidental Death and Total and Permanent Disability Rider and SUD Life Family Income Benefit Rider to choose from.
Branch Network
Since SUD Life Insurance is a joint venture with two public sector banks- Union Bank and Indian Bank it has a good branch network of 15000 branches across India. You can visit any of the branches if you are facing any issues or want to raise a claim request.
Easy Purchase
You can buy any SUD Term Plan from the company’s website, PolicyX, or any insurance agent or broker. Buying online offers you flexibility and eliminates the charges imposed by insurance agents or brokers.
Affordable Premiums
SUD Life offers term plans at affordable premiums so that every individual in India can buy a suitable term plan from them.

Documents Essential to Buy SUD Life Term Plans

SUD Life Insurance asks you for various documents while issuing the policy:

Passport Size Photo
One Identity Proof such as an Aadhar card, PAN card, Passport, Driving license
Income Proof (Salary slip/ Bank statement/ Income Tax Returns)
Address Proof (Utility bill, Ration card, Voter ID)
Form 16 (Salaried individuals) and Form 16 A (Self-employed)
Any other additional documents

How to Buy a SUD Life Term Plan?

You can buy a SUD Life Term Plan either through their website or PolicyX. PolicyX also helps you compare various term plans based on your requirements.

Buying From PolicyX.com

Step 1

Visit the official website of PolicyX.
Step 2

Hover over the ‘Term Insurance’ and select ‘Term Insurance Calculator’ from the dropdown menu.
Step 3

On the top right of the page select your age, gender, city, and annual income.
Step 4

You will be asked for other details such as education qualification, occupation, smoking habits, etc.
Step 5

Based on the information provided it will show you various term plans.
Step 6

Choose your preferred plan and riders and make the premium payment.
Step 7

You will shortly receive the confirmation by email.

Buying From SUD Life website

Step 1

Visit the official website of SUD Life.
Step 2

Click on ‘Buy Online’ at the top of the page.
Step 3

A new page will appear on the screen.
Step 4

Click on ‘Protection Plan’ and choose the desired plan.
Step 5

Click on ‘Buy Now’ and enter various details such as gender, age, and smoking habits, and submit the required documents.
Step 6

Make the payment and you will shortly receive policy documents and payment receipt via email.

How to Raise A Claim With SUD Life Insurance Company

Star Union Dai-ichi Life Insurance has a simple and hassle-free claim process. They follow a 3-step claim settlement process to settle your claims.

Step 1 Claim Information

You have to inform SUD Life Insurance about your claim. You can communicate the information through various modes:

By Calling- You can inform them by calling their toll-free number 1800-266-1833 from Monday to Saturday (9:00 A.M. to 7:00 P.M.).
Through Email- You can email them at customercare@sudlife.in with relevant documents to raise a claim.
Through Website- You can raise the claim request on their official website with policy details.
Through WhatsApp- You can send a message on WhatsApp at 7208867122 to raise your claim request.
Offline Branch Visit- You can visit a nearby offline branch of SUD Life Insurance with policy documents to raise a claim request.

Step 2 Claim Processing

SUD Life Insurance will verify the claim request and documents. They may ask for additional documents required to settle the claim. You are also provided with a claim number to track your claim status.

Step 3 Claim Decision

After verifying all the details SUD Life Insurance will communicate the decision taken by them. They will pass death benefits to the nominee’s bank account if the claim is accepted. As per IRDAI, it is necessary to settle the claims in 30 days but if there is any investigation going on it can take up to 120 days.

How to Contact SUD Life Insurance

You can contact SUD Life Insurance either online or by visiting the nearby branch. You can locate nearby branches using their branch locator.

For offline

You can visit any of the nearest branches of Star Union Dai-ichi Life Insurance. SUD has over 15,000 bank branches across India.

For Online

WhatsApp

7208867122

E-mail

customercare@sudlife.in

Toll-free Number

1800 266 8833

Conclusion

SUD Life Insurance offers various term insurance plans to fulfill the needs and requirements of every individual. With a good claim settlement and solvency ratio SUD Life has a robust branch network across India. Their insurance plans are offered at affordable premiums. You can easily buy the SUD Life Term Insurance Policy either through their website or by visiting PolicyX.com website. PolicyX is an insurance comparison portal that helps you compare various term plans and choose the one that is right for you.

SUD Life Term Insurance Plans: FAQs

1. How many types of term plans are offered by SUD Life Insurance?

SUD Life Insurance offers three types of term plans- Saral Jeevan Bima, Protect Shield, and Protect Shield Plus.

2. How to buy a SUD Life term plan?

You can buy a SUD Life term plan by visiting the official website of SUD Life, from PolicyX.com or an insurance agent.

3. 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 sending a WhatsApp message to 7208867122.

4. What additional riders does SUD Life offer to their customers?

SUD Life offers two additional riders for their customer to choose from- SUD Life Accidental Death & Total & Permanent Disability Benefit Rider and SUD Life Family Income Benefit Rider.