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

Yes, minor lives are covered from the policy inception date without restrictions. The policy will automatically vest in the life assured upon attaining the age of majority, i.e., 18 years.

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?

Q: Does the SUD Life Centurion plan have any exclusions?

Yes, the plan includes a suicide exclusion. If the life assured dies by suicide from the date of commencement of risk, the nominee will be entitled to the higher of 80% of the single premium paid or the surrender value available on the date of death, provided the policy is in force.

Q: Does the policy loan attract any interest?

Yes, interest is applicable on the loan amount borrowed against the policy, as per the company's prevailing rates.

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

Premiums paid are eligible for deduction up to ₹1.5 lakh under Section 80C of the old tax regime. Death benefits are fully tax-exempt, and maturity benefits are exempt under Section 10(10D), subject to applicable terms and conditions.

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.

Download Plan Related Documents

Product brochure (Prospectus)

Policy Presentation

Policy Document

Product CIS

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

In case of the death of the Life assured during the policy term provided the policy is in inforce, the death benefit will be paid out as lumpsum, and the policy will terminate.

Maturity Benefit

On survival till the end of policy term Guaranteed maturity benefit will be paid, provided the policy is in force and the contract ceases immediately.

Avail Policy loan

In emergency conditions, when you require funds to meet some unexpected expenses. We provide loans against the policy. Loans will be available only after the policy acquires surrender value, by assigning the policy document as a collateral security. The loan can be availed up to 70% of the Surrender Value at applicable interest rate levied by the Company

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.

There is a suicide exclusion under the SUD Life Centurion Plan. If the life assured commits suicide and dies from the date of commencement of risk under the policy the nominee or beneficiary of the policyholder shall be entitled to at least 80% of the single premium paid or the surrender value available as on the date of death whichever is higher, provided the policy is in force.

Yes, you have to pay interest on the amount of loan borrowed from the policy

The available tax benefits are as follows: 1. The premium paid will be allowed as a deduction of up to ₹1.5 lakhs under Section 80C of the old tax regime. 2. The death benefit received will be completely tax-exempt. 3. The maturity benefit will also enjoy tax exemption under Section 10(10D), subject to specified terms and conditions.