POS - SUD Life Sanchay

UIN: 142N058V05

POS-SUD Life Sanchay is a traditional, non-linked, non-participating, savings-oriented life insurance plan that provides insurance coverage and also creates a source of regular income. POS-SUD Life Sanchay is a savings-oriented plan that assists you and your family in generating a secondary source of income. This is the perfect plan for you if you’re seeking hassle-free life coverage, want to set aside savings to create extra income in the future, and are looking for a guaranteed income stream for ten years.

Experience life coverage until you turn 55
Policy Term of 10 years
Tax savings on premiums and benefits received

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What is POS - SUD Life Sanchay Plan?

The POS – SUD Life Sanchay Plan is a smart insurance plan designed for those who want more than just life coverage. If you’re looking for an effortless way to protect your loved ones while building a second income stream, this plan is for you. It guarantees a steady payout for ten years, providing financial security and peace of mind. As the saying goes, “Never depend on a single income,” and this plan ensures you’re taking a step towards creating a reliable backup for you and your family. You can also save taxes under the Income Tax Act of 1961 for the premium payment. With life coverage and savings in one, SUD Life Sanchay offers a safety net for your family’s future, helping you secure financial independence with guaranteed payouts—even after you're gone.

Download Plan Related Documents

Detailed information available to download

How Does POS - SUD Life Sanchay Work?

1.Choose Plan Details

You can purchase POS – SUD Life Sanchay for an annual premium starting as low as ₹6,000 for a fixed period of 10 years. This plan does not require any medical test. The plan will be active for policy term of 10 years. Premium Payment Term is fixed 10 years for this policy.

2.Guaranteed Maturity Benefit

On survival i.e. at policy maturity provided the policy is in-force, you will receive the Basic Sum Assured as Guaranteed Maturity Benefit in ten equal yearly instalments.

3.Death Benefit

On death of the life insured during the policy term, the Sum Assured on Death will be paid in 10 equal annual regular instalments of 150% of Annualized Premium. This benefit will provide your family with financial support in your absence.

4.Death Benefit due to Accident

There is a 90-day waiting period for the Death Benefit from date of acceptance of risk. In the event of death due to an accident during the waiting period, the Sum Assured on Death, as mentioned above will be paid.

5.Death Benefit due to any other reason

There is a 90-day waiting period for the Death Benefit after risk acceptance. If death occurs for any other reason, 100% of the premiums paid (excluding extras) will be refunded. After the waiting period, the full Sum Assured on Death will be paid.

POS - SUD Life Sanchay Benefits

Here are the benefits that you get from the plan

Death Benefit

Maturity Benefit

Policy Loan

Why choose POS - SUD Life Sanchay Plan?

POS - SUD Life Sanchay Plan is the ideal option for you because of the following points

It is accessible to all customer segments
It gives financial protection to your family
It does not require any medical examination
You can avail the plan online in a simple process
You receive 150% of annualised premiums for 10 years after the policy matures
You can also save on taxes based on the premium paid

Why Choose SUD Life?

1.51+ Cr Lives Covered

3rd Largest Life Insurer for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

19,500+

Distribution Points across India

24,700+ Cr

Assests Under Management

98.6%

Claims Settled as per 31.03.2024

5,641 Cr Gross Premium till Dec '24

6,718 Cr Gross Premium Mar '24

4,500 Cr EV* (Dec '24)

*Indian Embedded Value 4,000 Cr (Mar'24)

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(+91) - 7208 867122

Email

customercare@sudlife.in

Toll-Free Number

1800 266 8833
Monday to Saturday
09:00 AM to 07:00 PM

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Frequently asked questions (FAQs)

1. What is the Death Sum Assured in POS – SUD Life Sanchay Plan?

2. Is there a grace period for paying missed premiums?

3. How can I revive a lapsed policy?

4. What premium payment options are available under the plan?

5. Can I take a loan against my policy, and what are the terms?

6. What are the exclusions under this plan?

7. What is the Surrender Value of the policy?

The Death Sum Assured is the highest of the following: 10 times the Annualized Premium, or, 105% of total premiums paid, or, The Guaranteed Maturity Benefit or, Absolute amount assured to be paid on death i.e. 15 times the Annualized Premium.