SUD Life Centurion

UIN: 142N101V02

SUD Life Centurion is a non-linked, non-participating, savings-oriented life insurance plan that helps create a savings corpus for your goals. It also offers insurance coverage during the policy term. SUD Life Centurion is a simple endowment life insurance plan which is available online and requires only a single premium. You can enjoy coverage over the policy tenure and receive a lump sum benefit on maturity. SUD Life Centurion can help you save for your short and long-term goals. Moreover, the insurance coverage provides financial security to your loved ones in your absence and helps them meet their needs with ease.

Fixed policy term of 100 months
Flexibility to choose the death benefit option
Tax benefits on premium and plan benefits

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What is SUD Life Centurion?

SUD Life Centurion plan is designed to help create a savings corpus while providing insurance protection. It is a simple savings plan which allows coverage for a fixed period of 100 months and requires only a single premium. You just have to pay the premium once when buying the policy, which frees you from repeated premium payments and also helps in avoiding a lapse. This means you can invest in the plan once and reap the coverage and savings benefits over the policy tenure. The maturity benefit is paid in a lump sum, giving you a source of funds for your financial goals. You can also get a policy loan against the surrender value to meet financial emergencies with ease. In addition to these benefits, the plan also allows you tax advantages under the prevailing laws. This helps you reduce your tax liability and save more. Whether it is planning for your child’s secured future saving up for buying a home or a car, SUD Life Centurion can be a suitable tool to help you fulfil your goals.

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How Does SUD Life Centurion Work?

When you buy the SUD Life Centurion plan, you will have to choose the death benefit option and the premium amount. The policy term will be fixed at 100 months. Pay the premium when buying the policy, and the coverage will start.

1.Maturity Benefit

If the life assured survives the policy tenure, the Guaranteed Maturity Benefit will be paid in a lump sum. This benefit is calculated by multiplying the single premium with the Guaranteed Maturity Benefit (GMB) multiple. The GMB multiple depends on your age

2.Death Benefit

In the case the life assured passes away during the policy tenure, the higher of the sum assured on death or the acquired surrender value will be paid depending on the option selected. There are two options, and the sum assured on death under each is as follows:

Option 1 - 1.25 times the single premium paid

Option 2 - 10 times the single premium paid

SUD Life Century Income Insurance Plan Benefits

The plan covers the following major benefits:

Death Benefit

Maturity Benefit

Avail Policy loan

Why choose SUD Life Centurion?

Here are some reasons to consider the SUD Life Century Income Plan

It pays a lump sum benefit on death or maturity
Only a single premium is required to buy the plan
It offers financial protection against the risk of early death
Loans under the plan can give you the necessary funds in emergencies

Frequently asked questions (FAQs)

Are minor lives covered from the first day of the risk commencement?

Does the SUD Life Centurion plan have any exclusions?

Does the policy loan attract any interest?

What tax benefits are available under the SUD Life Centurion plan?

Yes, minor lives are covered from the policy's inception date without restrictions. Policy will automatically vest in the life assured upon attainment of his/her majority i.e. 18 Years.