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SUD Term Insurance
SUD Term Insurance
Star Union Dai-ichi Life Insurance is a joint venture between Bank of India, Union Bank of India, and Dai-ichi ...Read More
What you get with SUD Term Insurance
The headline features and policy mechanics, at a glance.
Annual Premium Rs 8,260.38 Cr
Affordable premium options starting from entry-level to comprehensive whole-life protection.
98.84% claim settlement ratio
Industry-leading approval rate on eligible term insurance claims in the most recent fiscal year.
2.3x solvency ratio
Well above IRDAI's 1.5× floor — strong indicator of long-term claim-paying ability.
1+ optional riders
Extend a base policy with add-on covers — critical illness, accidental death, waiver of premium and more.
11k branches pan-India presence
Branch offices and claim service centres across India for easy policy servicing.
SUD Life Term Insurance: Overview
Star Union Dai-ichi Life Insurance is a life insurance company in India that focuses on simple, affordable, and protection-based term plans to secure your family’s financial future. SUD Life Insurance offers 3 term insurance plans to suit your different needs: Saral Jeevan Bima, Life Protect Shield, and Life Protect Shield Plus.
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 Plans offer a range of benefits, including affordable premiums, high sum assured, flexible payout options, and longer coverage. These plans come with additional rider benefits, including the 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.
Key Features of SUD Life Term Plans:
- Stay protected with a life cover.
- Get back all your premiums at maturity (for specific plans).
- Protection against 40 critical illnesses (for specific plans).
- Tax benefits.
- High cover at affordable premiums.
- Multiple premium payment term options.
- Get an extra payout with additional riders.
Riders You Can Avail With SUD Term Insurance Plans
Enhance your term plan with optional add-on riders for broader protection.
SUD Life Accidental Death and Total & Permanent Disability Benefit Rider
Get an extra payout on top of the base cover for up to 180 days upon death due to an accident or accidental total & permanent disability.
Benefits of SUD Term Insurance
SUD Term Insurance is one of the most trustworthy and reliable insurer partners. Here are the reasons why you should choose SUD Term Insurance Plans:
01
Claim Settlement Ratio
Star Union Dai-Ichi Life Insurance holds an impressive claim settlement ratio of 97.42% for FY 2022-23. CSR is an important metric that shows the claims an insurer settled during a period.
02
Tax Advantage
With SUD term plans, you can maximize your tax savings under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
03
Good Solvency Ratio
The solvency ratio indicates the financial health of the insurance provider. In the latest report by IRDAI (2022-2023), SUD Life Insurance maintains an impressive solvency ratio of 2.2.
04
Ease of Purchase
You can easily purchase SUD term plans online from the comfort of your home via their official website or PolicyX.com.
Documents required
For policy purchase and claim submission. Have these ready before you start.
- Passport, Aadhaar card, PAN card, Driving license.
- Passport, Aadhaar card, PAN card, Driving license.
- Utility bill, passport, voter ID, ration card.
- Medical records (if requested).
- Bank statement or last three months' salary slips (for salaried individuals).
Eligibility Criteria of SUD Term Insurance Plans
To purchase an SUD term insurance plan in 2025, certain eligibility criteria must be met. Let's understand the eligibility criteria:
Age: A person between the ages of 18 and 65 is eligible to apply for a term life insurance plan. The policyholder's age is a key factor in the term insurance plan's premium.
Health condition: Since an SUD term insurance plan insures the policyholder's life, most insurers require a health examination to determine the current health condition and inherent risks for the insurer. Honest disclosure of health condition and medical history is crucial to avoid issues during claim settlement.
Income: An SUD term insurance plan has no specified minimum income requirement. However, insurers might request bank statements and salary slips to determine the coverage on your term plan.
Smoking habits: If you smoke or have been a smoker in the past, you must disclose this information to the insurer. This is because smokers are exposed to severe health hazards like lung cancer.
Citizenship: Indian citizens can buy an SUD term insurance plan in India in their name. NRIs or PIOs can also avail the benefits of a term insurance plan in India.
Additional Benefits Offered By SUD Plans
Return of Premium
If the life assured outlives the policy term, the policyholder receives the survival benefit sum in the form of return of premiums.
Critical Illness Benefit
Upon diagnosis of a critical illness, the insurer pays a lump sum of 100% of the critical illness sum assured. Additionally, future premiums will be waived, and the policy continues until maturity or death, whichever is earlier.
Choice of Multiple Premium Payment Term
SUD Life Insurance offers three premium payment term options for term insurance plans:
Add-on Rider
SUD Life Insurance offers optional rider benefits with its term insurance plans. Riders can be added to a term insurance policy to enhance the base sum assured and provide protection against specific conditions.
Choice of policy term
SUD Term Plans allow policyholders to choose a policy term that best fits their requirements.
Types of SUD Term Plans
Basic Term Plan
Plan Name: Plan Name: SUD Life Saral Jeevan Bima or SUD Life Protect Shield Plus
These plans only provide a sum assured to the nominee in case of the death of the policyholder. No survival benefits are included.
Term Plan with Return of Premium
Plan Name: Plan Name: SUD Life Protect Shield
These plans give the premium amount back to the policyholders only if they survive the policy term.
Term Insurance with Critical Illness
Plan Name: Plan Name: SUD Life Protect Shield
These plans offer inbuilt coverage against critical illnesses.
How to Buy a SUD Term Insurance Plan?
Step-by-step guides for the four key moments in your policy lifecycle. Click a tab to switch.
- Visit the PolicyX.com website or the SUD Term Insurance official website to compare and choose a suitable term plan.
- Enter your personal details such as name, date of birth, gender, annual income, and smoking status to get a customised quote.
- Compare plan options — choose your sum assured, policy term, premium payment term, and any optional riders.
- Fill in the proposal form with your contact details, nominee information, and medical history accurately.
- Upload the required documents: identity proof, address proof, income proof, and recent photographs.
- Pay the first premium online via net banking, UPI, debit/credit card, or cheque.
- Complete the medical examination if required (depends on your age and sum assured).
- Receive your policy document via email and registered post after underwriting approval.
You can easily initiate the claim settlement process for SUD Life term plans either online or offline. Check out the explained process below to understand the claim process thoroughly:
- The nominee should inform the insurance company about the insured's death as soon as possible and submit the filled-out SUD term insurance claim form with all the required documents attached.
- Once the request is submitted, the insurance company will verify the documents and contact the beneficiaries using the provided contact details for further processing.
- Once documents are verified, the insurer will initiate the claim process. The insurer will credit the claim amount to the nominee's registered bank account. As per IRDAI regulations, claims are typically settled within 30 days of submission.
- To initiate an offline SUD Life term plan claim settlement procedure, visit your nearest SUD Life Insurance branch office. Submit a duly filled claim form along with the required documents to the helpdesk. The Star Union Dai-ichi Life Insurance claims department processes the claim once documents are verified. You can easily locate the nearest branch office using the SUD branch locator.
- Log in to the SUD Term Insurance customer portal or the PolicyX.com dashboard before your policy renewal date.
- Review your existing policy details — coverage, premium amount, and nominee information.
- Choose to continue with the same plan or upgrade your sum assured if eligible.
- Pay the renewal premium online via net banking, UPI, debit/credit card, or cheque.
- Download the renewed policy document from your registered email or the insurer portal.
- Visit SUD Life Insurance's official website. Navigate to the 'Buy Now' section. From the dropdown menu, click on the term plan. Fill in the required details and click 'Proceed'.
- The premium will appear on your screen. Click on the payment section and select a payment option. You can pay via Net Banking, Debit, or Credit Card. Once the transaction is complete, you will receive a soft copy of the policy via email.
Why Choose PolicyX.com?
Don't just take our word for it — check out what our happy customers say about us!
All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.
Ravindra SinghI highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.
Priti VarshneyI'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.
Nisha MaryI bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.
Ajay ShahPolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.
Vijay RathodI purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.
Uma MahajanFrequently asked questions
The 8 most-asked questions about SUD Term Insurance, answered.
Customer satisfaction
Aggregate ratings from 927 verified PolicyX customers who bought a SUD Term Insurance plan.
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PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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