How does the death benefit work under the SUD Life Smart Term Return of Premium Plan?

In case of death during the policy term, your nominee receives the highest of 10 times the Annualized Premium, 105% of total premiums paid, or the chosen Sum Assured, as per the selected payout option.

What happens if I survive the policy term under the SUD Life Smart Term Return of Premium Plan?

You receive 100% of your total premiums paid, making it a zero-loss protection plan.

Are there any discounts available under the SUD Life Smart Term Return of Premium Plan?

Yes. You can avail a 10% discount on premium rates for female lives. In addition, a 5% discount on the annualized premium is available when the policy is purchased through the online channel, subject to policy terms and conditions.

What happens if I miss a premium payment under the SUD Life Smart Term Return of Premium Plan?

You get a grace period of 30 days (15 days for monthly mode). If unpaid beyond this, the policy may lapse or become Reduced Paid-Up depending on premiums paid. Revival is allowed within five years from the due date of first unpaid premium, subject to underwriting. Revival interest rate is currently 8.25% p.a. (FY 2025–26) compounded half-yearly and is reviewed annually.

Are loans allowed under the SUD Life Smart Term Return of Premium Plan?

You can take a policy loan once your policy acquires surrender value. The loan amount can be up to 50% of the applicable surrender value. Interest on the loan is charged at rates declared by the Company from time to time and is compounded half-yearly. Any outstanding loan and interest will be adjusted against the benefits payable under your policy.

SUD Life Smart Term Return of Premium Plan

UIN:142N097V01 | A Non-Linked Non-Participating Individual Term Life Insurance Plan

SUD Life Smart Term Return of Premium Plan is a Non-Linked, Non-Participating, Individual Term Life Insurance Plan. It provides life insurance coverage during the policy term and pays a death benefit on the death of the life assured. On survival till the end of the policy term, the plan returns the total premiums paid, subject to policy terms and conditions.

A comprehensive pure protection life insurance plan which offers financial protection to your family at an affordable rate
Flexibility to choose Sum Assured on Death, Premium Paying Term and Policy Term
Coverage against Death, and get back your Total Premiums paid on survival at maturity*
Receive the Death Benefit as Lumpsum, Monthly Income & Lumpsum plus Monthly Income
Special discounts for Female lives
Tax Benefits: as per prevailing norms under the Income Tax Act 1961, as amended from time to time

Buy SUD Life Smart Term Return of Premium Plan Online

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What is SUD Life Smart Term Return of Premium Plan?

Q: What payout options are available for death benefits?

You can choose one of the following options at policy purchase: Lump Sum: Full death benefit paid at once to the nominee. Monthly Income: 1% of the death benefit paid every month for 125 months, starting from the next policy month anniversary after the date of death. Lump Sum + Monthly Income: 50% of the death benefit paid immediately and the remaining 50% paid as monthly income over 125 months. The nominee can also choose to receive the remaining monthly income as a discounted lump sum, subject to policy terms and conditions.

Q: Can I change my death benefit payout option later?

Yes, you can change your payout option anytime during the policy term as per your evolving needs.

SUD Life Smart Term Return of Premium Plan is a term life insurance plan designed to provide financial protection to the family of the life assured in case of death during the policy term. The death benefit is payable as per the payout option chosen at inception. Please note that the death benefit shall be reduced by any unpaid premiums falling due during the policy year of death.

If the life assured survives till the end of the policy term, the total premiums paid under the base policy shall be payable as maturity benefit.

Premium is determined based on age at entry, gender, smoking status, sum assured on death, policy term and premium payment term.

It is ideal for individuals who want the dual benefit of life cover and some saving option, offering flexibility to choose your sum assured, policy term, premium payment term, and death benefit payout option.

Download Plan Related Documents

Product brochure (Prospectus)

Policy Presentation

Policy Document

Customer Information Sheet

How Does SUD Life Smart Term Return of Premium Plan Work?

Once you buy the SUD Life Smart Term Return of Premium Plan, you must choose the following details: Sum assured, Policy Term.

1.Life Coverage and Policy Term

Decide how much protection you need (minimum ₹50 lakhs and above, subject to underwriting) and select a policy term between 15 and 40 years based on your long-term goals.

2.Select Your Premium Payment Option

Pay premiums regularly throughout the policy term or for a fixed duration. You can choose from Regular Pay, 7 years, 10 years, or 15 years premium payment terms. For a premium payment Term of 15 years, minimum policy term shall be 20 years.

3.Customize Your Death Benefit Payout Option

Choose how your family will receive the benefit:

Lump Sum: Entire benefit paid at once, ideal for clearing major financial liabilities.
Monthly Income: 1% of Death Benefit for 125 months, starting from the next policy month anniversary following the date of death.
Lump Sum + Monthly Income: 50% immediately and balance as monthly income for 125 months.

You can change this option anytime during the policy term. If your beneficiary prefers to receive the remaining income as a lump sum later, the future outstanding monthly income may be commuted into a lump sum at a discount rate of 4.75% p.a.

4.Life Coverage

In the unfortunate event of death during the policy term, your nominee receives the higher of:

1.    10X Annualized Premium, or
2.    105% of Total Annualized Premiums Paid, or
3.    Sum Assured on Death (as chosen at inception)

Return of Your Premiums Back at Maturity
If you as the policyholder survive till the end of the policy term, the total premiums you have paid under the base policy (excluding taxes and extra premiums, if any) shall be payable as maturity benefit.

5.Return of Your Premiums Back at Maturity

If you as the policyholder survive till the end of the policy term, the total premiums you have paid under the base policy (excluding taxes and extra premiums, if any) shall be payable as maturity benefit.

6.Discounts and Flexibility

10% discount on premium rates for female lives, applicable at policy inception.
5% discount on annualized premium for policies purchased through the online channel, subject to policy terms and conditions.
Option to change premium payment frequency at any policy anniversary during the premium payment term.

SUD Life Smart Term Return of Premium Plan Benefits

Here are the benefits that you get from the plan

Comprehensive Life Protection

Return of Premium Benefit

Flexible Death Benefit Payout Options

Premium Flexibility

Discounts for Women and Online Purchase

Why choose SUD Life Smart Term Return of Premium Plan?

SUD Life Smart Term Return of Premium Plan is the ideal option for you because of the following points

Provides comprehensive financial protection for your family.
Returns 100% of your total premiums paid if you survive the policy term.
Offers flexible payout options for death benefits.
Allows freedom to choose your policy term and payment duration.
Provides exclusive discounts for women and if bought through the online channel.
Ensures affordable protection with guaranteed returns.

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

And Many More.

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Why Choose SUD Life?

1.52+ Cr Lives Covered

3rd Largest Life Insurer for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

20,000+

Distribution Points across India

31,000+ Cr

Assests Under Management

99.01% Claims Settlement Ratio

Individual Claims Settlement Ratio as on 31.03.2026

₹8,260 Crore

Gross Premium till 31.03.2025

4,500 Cr EV* (Dec '24)

*Indian Embedded Value 4,000 Cr (Mar'24)

Connect with us

WhatsApp (Drop a 'HI')

(+91) - 7208 867122

Email

customercare@sudlife.in

Toll-Free Number

1800 266 8833
Monday to Saturday
09:00 AM to 07:00 PM

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Frequently asked questions (FAQs)

What makes SUD Life Smart Term Return of Premium Plan different from other term plans?

How does the death benefit work?

What payout options are available for death benefits?

What if I survive the policy term?

Are there any discounts available?

Can I change my death benefit payout option later?

What happens if I miss a premium payment?

Are loans allowed under this policy?

Unlike a regular term plan, this plan gives you back 100% of your total premiums paid if you survive the policy term, combining protection and savings.