What is SUD Life Century Gold?

There are two types of Plan Variants:

1. Goal Sure
2. Edu Sure

In the event of the life insured’s death during the policy term, a lump-sum death benefit is paid to the nominee. The death benefit will be the highest of the following – 

• Sum assured on death, which is 10.5 times the annualised premium + accumulated guaranteed additions + guaranteed addition for the year of death (if applicable)

• surrender value as of the date of death

• death benefit factor is multiplied by the guaranteed maturity benefit.

This plan option offers a structured death benefit paid in three parts:

• Part 1: An immediate lump-sum benefit to the nominee (sum assured on death)

• Part 2: An income benefit of 5% of the annualised premium, paid each month starting from the month in which death occurred till the end of the policy term.

• Part 3: A lump-sum payment equivalent to the guaranteed maturity benefit at the end of the policy term.

Under both plan options, the minimum death benefit is at least 105% of the total premiums paid until the date of death

If the Life Insured survives until the end of the policy term, they receive the sum assured on maturity (SAM) along with the accumulated guaranteed additions. SAM is calculated by multiplying the SAM factor by the annualised premium. The SAM factor depends on your entry age, policy term (PT), and the selected plan option

SUD Life Accidental Death and Total & Permanent Disability Benefit Rider – Traditional

Benefits payable under the rider:
a. On death due to Accident - On death of the Life Assured due to Accident, 100% of Rider Sum Assured will be paid provided the policy is in force as on the date of death of the Life Assured and the contract ceases thereafter. 
b. On Accidental Total and Permanent disability - Rider Sum Assured will be paid in 10 equal half-yearly instalments wherein each instalment amount will be equal to Rider Sum Assured multiplied by 10%, provided the policy is in force (as on the date of occurrence of event) and the Rider contract will cease after payment of the last instalment. In case of death of the Life Assured while receiving Accidental Total and Permanent disability benefit, the remaining total of all outstanding installments under this Rider will be paid to the nominee/beneficiary and the contract ceases. 
Note: Once any policyholder is declared eligible to receive the benefits under Accidental Total and Permanent Disability, the Coverage under this rider will immediately cease

SUD Life Family Income Benefit Rider – Traditional

Benefits payable under the rider:
Death Benefit: On death of the Life Assured, provided the rider benefit is In-force, the Nominee/Legal heir will be paid a Monthly Income Benefit for a fixed period of 10 Years. The Monthly Income Benefit is equal to (10% of Rider Sum Assured)/12 and will be paid at the end of every policy month following the date of death of the Life Assured and will continue to be paid for fixed period of 10 Years.
These rider benefits can be selected on commencement of the base policy or on any policy anniversary during a Premium Payment Term of the base policy, provided the base policy is In-Force.
The sum of total rider premiums should not exceed 30% of the total premiums paid under the base Plan. The rider benefits attached to the basic plan will terminate if the basic plan is terminated.