SUD Life Protect Shield Plus

UIN - 142N088V03

SUD Life Protect Shield Plus is a non-linked, non-participating, pure term insurance plan that covers the financial risk of premature demise and is available only to non-smokers. SUD Protect Shield Plus is a protection-oriented life insurance plan which provides financial protection at affordable premiums. Thus, the SUD Protect Shield Plus is a simple term plan that gives peace of mind in unforeseen situations. With long-term coverage against the risk of premature demise, the plan allows you to provide financial security to your family in your absence. In other words, with the SUD Protect Shield Plus, your family is financially taken care of even when you are not around.

  • Enjoy life coverage for up to 80 years
  • Nominal premium rates and lump sum death benefit
  • Choose your sum assured, policy term and premium payment term
  • Tax benefits on premium and death benefits

Buy SUD Life Protect Shield Plus Online

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What is SUD Life Protect Shield Plus Plan?

A term insurance plan is a protection-oriented plan which provides financial protection to the family in the breadwinner’s absence. SUD Protect Shield Plus does the same. It is also a term plan which offers optimal coverage at affordable premiums. It gives you the flexibility to choose the coverage level, the policy term and the premium payment term so that you can tailor the plan to your needs. SUD Life Protect Shield Plus pays a death benefit if the life insured dies during the policy term. This death benefit can give your family much-needed financial assistance when you are not around. They can use the funds to meet their lifestyle needs, to pay off existing loans, and even to fulfil the financial goals that they left unfulfilled. So, with the SUD Life Protect Shield Plus, you can get financial protection at an affordable cost and give security to your family. Plus, the long-term coverage provides optimal protection. The icing on the cake is tax saving. You can save taxes under the Income Tax Act of 1961 for premium payments, and the death benefit is also tax benefits.

    Download Plan Related Documents

    Product Brochure
    Policy Presentation
    Policy Document
    Product CIS

    How Does SUD Life Protect Shield Plus Plan Work?

    When you buy the SUD Protect Shield Plus plan, you choose your Sum assured (coverage amount), Policy term & Premium payment term

    1.Annual Premium

    The annual premium will be calculated based on your age, gender, risk factors, policy details selected, etc. You need to pay the premium over the chosen policy term and in the chosen premium payment frequency. Once the premium is paid and the policy is issued, your coverage begins.

    2.Death Benefit

    If the life insured happens to pass away during the chosen policy tenure, the death benefit is paid in a lump sum. This benefit will give your family financial assistance in your absence.

    3.Maturity Benefit

    If the life insured manages to survive the policy tenure and the plan matures, no maturity benefit will be paid since this is a pure-term plan or a protection-only plan

    4.Let's understand with an example

    A male aged 30 years buys the SUD Protect Shield Plus for a term of 20 years. The policy details are as follows: Sum assured - ₹1 crore, Policy term – 20 years, Premium payment term - 20 years, Premium paying frequency - Annual, Annual premium - ₹9,937 (excluding taxes). In the 10th policy year, the life insured passes away. The total premiums paid till death is ₹99,370. The plan will pay the death benefit which is ₹1 crore

    SUD Life Protect Shield Plus Plan Benefits

    Here are the benefits that you get from the plan

    Death benefit

    Maturity Benefit

    Why choose SUD Life Protect Shield Plus?

    SUD Life Protect Shield Plus Plan is the ideal option for you because of the following points
    • It has affordable premiums
    • It provides financial security against the risk of premature demise
    • You can buy the plan online in a few clicks
    • You can get long-term coverage
    • You can save taxes on the premiums paid
    • The lump sum death benefit can give your family substantial financial assistance

    Frequently asked questions (FAQs)

    Can I change the frequency of my premium payment during the policy term?
    Are there any policy exclusions that I should know about?
    Can I cancel the policy after buying it?
    What happens if I cancel the policy during the Policy Term?
    How is the death benefit defined under the plan?
    What happens if I miss the premium payment date?
    Can I revive a lapsed policy?

    Yes, this plan allows you to change your premium payment frequency during the premium payment term. However, the alteration can only be made on any policy anniversary

    Disclaimers