SUD Life Century Star

UIN: 142N075V04

SUD Life Century Star is a limited premium, non-participating, non-linked savings life insurance plan that financially safeguards your family in your absence and offers an assured payout on surviving the policy term. SUD Life Century Star is a savings-oriented life insurance plan that provides life insurance coverage and guaranteed maturity benefit. SUD Life Century Star is an ideal plan that looks after your family even when you are not around. This short-term premium payment plan helps build a corpus at the end of the policy in the form of a maturity payout.

It comes with a limited premium payment term of 7 years
It gives a lump sum amount to the policyholder for surviving the entire policy term
It has two rider options to get enhanced protection
It provides you with the choice of availing policy loan in tough times
It helps to save more under tax benefit laws

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What is SUD Life Century Star Plan?

Q: Is there a waiting period under the POS-P sourced policy, and what are the benefits during this time?

Yes, there is a waiting period of 90 days for the Death Benefit under POS-P sourced policies. During this period, only accidental deaths are covered. If death occurs due to non-accidental causes during the waiting period, 100% of the premiums paid (excluding any extra premium paid, taxes, and modal loading) is refunded, and the policy ends.

Q: What is Reduced Paid-Up Status, and how does it impact benefits under SUD Life Century Star?

If premiums are paid for at least the first full policy year but discontinued later, the policy acquires Reduced Paid-Up status instead of lapse. Paid-Up Guaranteed Maturity Benefit = (Number of premiums paid ÷ Total number of premiums payable) × Guaranteed Maturity Benefit. Paid-Up Sum Assured on Death = (Number of premiums paid ÷ Total number of premiums payable) × Sum Assured on Death. This ensures proportional benefits based on premiums paid.

Q: What happens if the life insured passes away due to suicide within the first 12 months of the policy?

If the life insured dies by suicide within 12 months from the risk commencement date, the nominee will receive the higher of: 80% of the total premiums paid until the date of death, or the surrender value available on the date of death, provided the policy is active.

Q: What happens if I decide to surrender my policy before the end of its term?

If the policy is surrendered early, the policyholder receives the higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV). SSV is available after paying premiums for one full policy year, while GSV is available after two consecutive policy years. Once surrendered, the policy terminates and no further benefits apply.

SUD Life Century Star is a life insurance plan designed to offer financial security to your family in the event of your untimely demise. With this plan, you pay premiums for a limited period, ensuring that your loved ones receive financial assistance in the case of your passing. The policy also provides a guaranteed payout at the end of the term. This plan offers flexibility, allowing you to choose a policy term between 12 to 16 years and a fixed premium payment term of 7 years. It offers life insurance coverage with a guaranteed maturity value. In case of policy surrender , attractive surrender values are paid from the 13th policy year onwards. SUD Life Century Star also allows you to enhance your coverage with optional riders, such as the accidental death and disability benefit rider or the family income benefit rider, offering extra protection for unforeseen circumstances. With its limited premium payments and guaranteed benefits, this plan is an ideal choice for those seeking long-term security and planning for their family's future.

Download Plan Related Documents

Product brochure (Prospectus)

Policy Presentation

Policy Document

Product CIS

Key Features Document

How Does SUD Life Century Star Plan Work?

Buy the SUD Life Century Star Insurance Plan and select the following: Policy term, Premium amount, Riders, if required. This plan comes with only annual premium payment mode and premium payment term of 7 years. The death benefit and maturity benefit depend on the premium amount i.e. annualized premium that you have chosen.

1.Survival Benefit

On survival until the end of the policy term provided the policy is inforce, you will get Guaranteed Maturity Benefit. The amount is dependent on your age and policy term. For annualised premium of ₹1.5 lakh or more, the Guaranteed Maturity Benefit will be increased by 2%.

2.Death Benefit

In the unfortunate situation of your untimely death, the Sum Assured on Death will be paid as a lump sum to the nominee and the policy terminates.

3.Example

A man aged 40 years purchases the SUD Life Century Star plan for a policy term of 16 years. The policy details are: Premium payment frequency – Annual, Premium payment term – 7 years, Sum assured on death - ₹10 lakhs, Annualised premium - ₹1 lakh. On surviving the entire policy term, the man receives a Guaranteed Maturity Benefit of ₹12,37,930. If he dies suddenly during the 3rd policy year, he would have paid total premium of ₹3 lakhs (excluding taxes). His nominee will receive ₹10 lakhs as death benefit and the policy will terminate immediately.

Plan Variants

Platinum

Platinum Plus

SUD Life Century Star Plan Benefits

Here are the benefits that you get from the plan

Death Benefit

Maturity Benefit

High Premium Benefit

Why choose SUD Life Century Star Plan?

SUD Life Century Star Plan is the ideal option for you because of the following points

It financially safeguards your family in your absence
It is a short-term premium payment plan offering long-term savings
Once the policy term is completed, you receive an assured maturity payout
You can save more under tax laws related to premiums paid and benefits received

Frequently asked questions (FAQs)

How is the Sum Assured on Death defined under the SUD Life Century Star Insurance Plan?

Is there a waiting period under the POS-P sourced policy, and what are the benefits during this time?

What is Reduced Paid-Up Status, and how does it impact benefits under SUD Life Century Star?

What happens if the life insured passes away due to suicide within the first 12 months of the policy?

What happens if I decide to surrender my policy before the end of its term?

The Sum Assured on Death is the higher of: 10 times the annua lized premium, or, 105% of the total amount of premiums paid until the date of death. The death benefit will be adjusted by deducting any unpaid premiums due for the policy year in which the death occurs.

Our Other ULIP Plans

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This is a simple term insurance plan that provides life cover for your family.

Life cover ranges from ₹5 lakhs to ₹25 lakhs
You can join between ages 18 to 65
Covers you up to age 70
Choose to pay premiums once, regularly, or for 5 or 10 years
Policy terms from 5 to 40 years
45-day waiting period at the start (only accidental death covered during this time)

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