SUD Life Simple Term Plan

UIN: 142N095V01 | A Non-Linked Non-Participating Pure Risk Premium Individual Life Insurance Plan

SUD Life Simple Term Plan is a non-linked, non-participating pure risk individual life insurance plan that provides economic security to your family at a reasonable rate when you are no longer around. SUD Life Simple Term Plan provides financial protection for your family at a nominal premium, making it a perfect solution to strengthen your financial immunity and securing your family's dreams in your absence.

  • Life Insurance Protection at a nominal premium
  • Flexibility to choose Sum Assured and Policy Term
  • Receive Death Benefit as Lumpsum
  • Available online through our website^

Buy SUD Life Simple Term Plan Online

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What is SUD Life Simple Term Plan?

SUD Life Simple Term Plan is a Pure Risk Term Life Insurance Plan which is provides life insurance cover to an individual and lump sum payment in case of unfortunate death. The premium payment term is same as Policy Term. While applying for this product, the Policyholder will have to choose the Sum Assured and the Premium will be is calculated based on his/her Age, Sum Assured, Policy Term.

    How Does SUD Life Simple Term Plan Work?

    Once you buy the SUD Life Simple Term Plan, you must choose the following details: Sum assured, Policy Term.

    1.Premium

    The premium payment frequency of this plan is annual. The premium payment term aligns with the policy term. The premium amount is decided based on the life insured’s age, policy term and the sum assured.

    2.Death Benefit

    In case of the life insured’s untimely death, a lump sum amount is paid as death benefit to the nominee. This amount will be the highest of: 10 times the annual premium OR 105% of premiums paid till death of life insured OR Sum assured as selected at the beginning of the plan.

    3.Maturity Benefit

    As this is a pure risk product, no maturity benefit will be payable on survival at policy maturity. The policy will terminate. 

    4.Example

    A man aged 35 years purchased the SUD Life Simple Term Plan. The plan details are as follows: Sum assured - ₹20 lacs, Policy Term – 10 years, Premium payment term – 10 years, Premium frequency – Annual, Annual premium - ₹4,020 (excl. taxes). In case of the unfortunate demise of the man during the policy period, death benefit of ₹20 lacs will be payable to his family.

    SUD Life Simple Term Plan Benefits

    Here are the benefits that you get from the plan

    Death benefit

    Economical Premium

    Flexible Policy Terms

    Why choose SUD Life Simple Term Plan?

    SUD Life Simple Term Plan is the ideal option for you because of the following points
    • It financially safeguards your family in case of your untimely demise.
    • You pay affordable premium amount once a year.
    • You can avail of benefits on premiums under tax laws.
    • Purchasing the plan online will give you further discounts.
    TESTIMONIALS

    Know why customers buy Life Insurance from us

    Best Insurance Claim Support Team

    Choosing SUD Life Insurance was one of the best decisions I've made for my family's future. Their attentive team made the entire process seamless, ensuring I found the perfect plan tailored to my needs.

    Ramprakash Shivram Yadav
    Companies in India for Life Insurance Policy with a Wide Reach

    Choosing SUD Life Insurance was one of the best decisions I've made for my family's future. Their attentive team made the entire process seamless, ensuring I found the perfect plan tailored to my needs.

    Suresh Gajanan Patil
    PMJJBY Claim

    I have visit at Nanded Branch for pmjjby death claim documents submitted i very thankful mr.. akash sir my uncle Pmjjby death payment received at 3dyas.

    Yash Thakur
    And Many More.
    View All

    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)

    Connect with us

    WhatsApp (Drop a 'HI')

    (+91) - 7208 867122

    Toll-Free Number

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

    Frequently asked questions (FAQs)

    Is there any grace period for missed premium payments under SUD Life Simple Term Plan?
    How much premium do I need to pay under SUD Life Simple Term Plan?
    When does SUD Life Simple Term Plan lapse? How can I revive the lapsed policy?
    Is there any Surrender benefit under SUD Life Simple Term Plan?
    Is there a suicide exclusion under the SUD Life Simple Term Plan?
    Can I cancel the SUD Life Simple Term Plan if I change my mind?
    When does the SUD Life Simple Term Plan terminate?

    Yes, a grace period of 30 days is provided to pay any missed premium. The grace period begins from the due date of the first unpaid premium.

    Disclaimers