SUD Life Centurion Plan

Eligibility Criteria for the SUD Life Centurion Plan

Features of the SUD Life Centurion Plan

The SUD Life Centurion Plan is a short-term savings plan that offers guaranteed returns and life cover. Key features of the plan include:

• Guaranteed Maturity Benefit: Provides a fixed lump-sum payout at the end of 100 months, helping you plan your financial goals with certainty.
• Single Premium Plan: Requires a one-time premium payment, after which the policy remains active for the entire term.
• Flexible Death Benefit Options: Offers a choice between 1.25 times or 10 times the single premium, allowing you to select the level of protection.
• Fixed Policy Term: Comes with a predefined term of 100 months, making it easier to align with short- to medium-term financial planning.
• Guaranteed Returns with No Market Risk: As a non-linked plan, the benefits are assured and not impacted by market fluctuations.
• Tax Benefits: Premiums paid and benefits received may qualify for tax benefits as per prevailing income tax laws.

You may also explore Star Union Dai-ichi investment plans to compare benefits and find one that better fits your financial goals.

Benefits of the SUD Life Centurion Plan

The SUD Life Centurion plan offers savings and protection. It is appropriate for those who seek a guaranteed return plan, including life cover.

• Maturity Benefit: In case you survive until the expiry of policy terms and the policy is still active, then you are guaranteed a maturity benefit, which will be provided as a lump sum.
• Death Benefit: This will be paid to the life insured's beneficiary when the life insured dies during the term of the policy. The death benefit will be given to the nominee. The sum to be paid will be the greater of:
• The Sum Assured on Death (based on the option chosen), or
• The surrender value available as of the date of death.
• Financial Stability: The assured payout will give your savings a guaranteed growth rate, independent of market movements.
• Tax Benefits: Premiums paid and benefits received may qualify for tax benefits as per the Income Tax Act, subject to applicable rules.

Policy Details of the SUD Life Centurion Plan

Understanding the policy conditions helps you make informed decisions and manage your plan effectively.

1. Grace Period

   There is a 30-day grace period (15 days in the monthly mode) to pay overdue premiums and retain the benefits.

2. Revival

   The policy may be revived within 5 years of the date of the first unpaid premium by paying outstanding dues together with interest.

3. Free Look Period

   Within 30 days of receiving the document, you can take a preview of the policy and return it if you are dissatisfied.

4. Surrender

   The policy may be surrendered after at least one year of policy has expired, at the surrender value.

5. Loan

   Once the policy has a certain amount of surrender value, you can take a loan against it, subject to the terms and conditions.

If you are exploring similar options, you can also check other investment plans that offer a mix of savings and life cover.

Exclusions Under the SUD Life Centurion Plan

Suicidal Cover: In case of death due to suicide within 12 months from the date of commencement of risk, the nominee will be entitled to at least 80% of the single premium paid or the surrender value available, whichever is higher, provided the policy is in force.