When does the SUD Life Simple Term Plan lapse and how can I revive it?

The plan lapses if premiums are not paid within the grace period. It can be revived within five years from the first unpaid premium due date by submitting a request, paying all outstanding premiums with applicable interest, and completing medical or financial checks, subject to underwriting approval.

SUD Life Simple Term Plan

UIN: 142N095V01 | A Non-Linked Non-Participating Pure Risk Premium Individual Life Insurance Plan

SUD Life Simple Term Plan is a non-linked, non-participating pure risk individual life insurance plan that provides economic security to your family at a reasonable rate when you are no longer around. SUD Life Simple Term Plan provides financial protection for your family at a nominal premium, making it a suitable life insurance plan to strengthen your financial security and support your family's needs in your absence.

Life Insurance Protection at a nominal premium
Flexibility to choose Sum Assured and Policy Term
Receive Death Benefit as Lumpsum
Available online through our website^

Buy SUD Life Simple Term Plan Online

Your First Name *

Last Name *

Email ID*

Mobile Number*

+91

We Don't Spam

Verify OTP via

Mobile Number

I hereby consent to receive policy related communication from SUD Life Insurance Co. Ltd or its authorized representatives via Call, SMS, Email & Voice over Internet Protocol (VoIP) including WhatsApp and agree to waive my registration on NCPR (National Customer Preference Registry) in this regard.

By selecting the check box, you declare to consciously bypass the recommended suitability analysis module and purchase the policy based on your independent assessment.

Note: The contact details provided in this form are collected solely for lead generation and customer outreach purposes. Submission of this form does not constitute a quote request, and the information provided is not used for insurance quote generation.

What is SUD Life Simple Term Plan?

Q: How much premium do I need to pay under SUD Life Simple Term Plan?

The premium amount depends on factors such as the age of the policyholder, chosen policy term, and sum assured.

Q: Is there any surrender benefit under SUD Life Simple Term Plan?

No, there is no surrender benefit available under this plan.

Q: Is there a suicide exclusion under the SUD Life Simple Term Plan?

Yes, if the life insured dies by suicide within 12 months from the policy commencement or revival date, 80% of the total premiums paid until the date of death is payable, provided the policy was active.

Q: Can I cancel the SUD Life Simple Term Plan if I change my mind?

Yes, the policy can be cancelled within 30 days of receiving the policy document. A refund is issued after deducting risk premium, medical examination costs, and stamp duty charges.

Q: When does the SUD Life Simple Term Plan terminate?

The policy terminates if it is not revived after non-payment of premiums, upon expiry of the policy term, after payment of the death benefit, or if cancelled during the free-look period.

SUD Life Simple Term Plan is a Pure Risk Term life insurance plan which provides life insurance cover to an individual and lump sum payment in case of unfortunate death. The premium payment term is same as Policy Term. While applying for this product, the Policyholder will have to choose the Sum Assured and the Premium will be calculated based on his/her Age, Sum Assured, Policy Term. This life insurance plan is structured to offer coverage based on individual requirements.

Download Plan Related Documents

Product brochure (Prospectus)

Policy Presentation

Policy Document

Customer Information Sheet

How Does SUD Life Simple Term Plan Work?

Once you buy the SUD Life Simple Term Plan, you must choose the following details: Sum assured, Policy Term.

1.Premium

The premium payment frequency of this plan is annual. The premium payment term aligns with the policy term. The premium amount is decided based on the life insured’s age, policy term and the sum assured.

2.Death Benefit

In case of the life insured’s untimely death, a lump sum amount is paid as death benefit to the nominee. This amount will be the highest of: 10 times the annual premium OR 105% of premiums paid till death of life insured OR Sum assured as selected at the beginning of the plan.

3.Maturity Benefit

As this is a pure risk product, no maturity benefit will be payable on survival at policy maturity. The policy will terminate.

4.Example

A man aged 35 years purchased the SUD Life Simple Term Plan. The plan details are as follows: Sum assured - ₹20 lacs, Policy Term – 10 years, Premium payment term – 10 years, Premium frequency – Annual, Annual premium - ₹4,020 (excl. taxes). In case of the unfortunate demise of the man during the policy period, death benefit of ₹20 lacs will be payable to his family.

SUD Life Simple Term Plan Benefits

Here are the benefits that you get from the plan

Death benefit

Economical Premium

Flexible Policy Terms

Why choose SUD Life Simple Term Plan?

SUD Life Simple Term Plan is the ideal option for you because of the following points

It financially safeguards your family in case of your untimely demise.
You pay affordable premium amount once a year.
You can avail of benefits on premiums under tax laws.
Purchasing the plan online will give you further discounts.

Testimonials

Know why customers buy Life Insurance from us

Best Insurance Claim Support Team

Choosing SUD Life Insurance was one of the best decisions I've made for my family's future. Their attentive team made the entire process seamless, ensuring I found the perfect plan tailored to my needs.

Ramprakash Shivram Yadav

Companies in India for Life Insurance Policy with a Wide Reach

Suresh Gajanan Patil

PMJJBY Claim

I have visit at Nanded Branch for pmjjby death claim documents submitted i very thankful mr.. akash sir my uncle Pmjjby death payment received at 3dyas.

Yash Thakur