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What is SUD Life Assured Term Plan?
SUD Life Assured Term Plan is a pure term insurance plan that ensures your family's financial future remains secure even when you're not around. Unlike other term plans, this policy comes with a built-in terminal illness benefit, giving you access to funds when you need them most during critical health situations.
The plan offers flexible death benefit payout options, so your family can choose how they want to receive the benefit. Whether as an immediate lump sum benefit to clear debts and major expenses, or as a steady monthly income to manage ongoing household costs. You can even combine both approaches as per your choice for more flexibility.
Download Plan Related Documents
How Does the SUD Life Assured Term Plan Work?
1.Choose Your Coverage
You start by selecting your sum assured (minimum ₹25 lakhs), premium payment term (7 to 40 years), and policy term (10 to 40 years). You also choose your death benefit payout option and premium payment frequency.
2.Coverage Commencement
Once your policy starts, your life insurance coverage is active throughout the policy term. Your family receives financial protection through the death benefit, calculated as the highest of 10 times annualized premium, 105% of total premiums paid, or your chosen sum assured.
3.Built-in Terminal Illness Protection
If you're diagnosed with a terminal illness during the policy term, you can access up to ₹2 crores immediately, given the ailment falls under the list of illness covered. For more information, please refer to the policy document or check in the benefits section below.
4.Flexible Death Benefit Options
Your family can receive the death benefit as a lump sum, monthly income over 125 months (nearly 10.5 years), or a combination of both. The payout option can be changed during the policy term to match your family's needs.
5.Claim Support
In case of an unfortunate event, your family receives 10% of the sum assured (up to ₹5 lakhs) within one working day of claim registration, providing immediate financial support during difficult times.
6.Premium Discounts
Females get a 10% discount throughout the premium paying term, salaried individuals get 5% off first-year annualized premiums, staff members get 10% discount, and high sum assured discounts are available.
Policy Term Options
Premium Paying Term
Minimum Policy Term
Maximum Policy Term
Eligibility Criteria
Entry Age
Maturity Age
Sum Assured
Min 18 years; Max 50 years
Min 28 years; Max 70 years
Min ₹25 lakhs; Max as per underwriting policy
Benefits of SUD Life Assured Term Plan
Here are the benefits that you get from the plan
Death Benefit
Instant Financial Support
Discounts
Extended Grace Period Options
Death Benefit Payout Options
- Lump Sum Option: Your family receives the entire death benefit immediately as a single payment. This option is ideal for clearing major debts, funding children's education, or making large investmentsYour family receives the entire death benefit immediately as a single payment. This option is ideal for clearing major debts, funding children's education, or making large investments
- Monthly Income Option: Your family receives 1% of the death benefit every month for 125 months, providing steady income to manage household expenses and maintain their lifestyle. The first monthly payment is made immediately upon claim approval.
- Lump Sum Plus Monthly Income: Your family gets both, 50% of the death benefit immediately as lump sum, plus 0.5% monthly income for 125 months. This provides both immediate funds and ongoing financial support.
Why Choose SUD Life Assured Term Plan?
- Your family gets comprehensive financial protection starting from Rs 25 lakhs at affordable premiums that fit your budget.
- Built-in terminal illness benefit provides access to funds up to Rs 2 crores when you face critical health challenges.
- Flexible death benefit payout options ensure your family receives financial support in the way that works best for their situation.
- Multiple discount opportunities make comprehensive coverage even more affordable, especially for females and salaried individuals.
- Instant claim payment facility provides immediate financial support when your family needs it most.
Frequently asked questions (FAQs).
1. What makes SUD Life Assured Term Plan different from other term plans?
2. How do the death benefit payout options work?
3. When can I access the terminal illness benefit?
4. What discounts are available and can they be combined?
5. How does instant claim payment work?
5. How does instant claim payment work?
6. Can I increase my coverage or change terms later?
7. What happens if I stop paying premiums?
8. Are there any exclusions I should know about?
This plan includes a built-in terminal illness benefit up to ₹2 crores at no extra cost, flexible death benefit payout options, and instant claim payment facility. You also get multiple discount opportunities and extended grace period options not commonly available in basic term