SUD Life Century Income Plan

SUD Life Century Income Plan is a life savings insurance plan designed to provide a steady, assured income and financial security. It is appropriate for people who wish to maintain a steady stream of income in the future as well as to meet their families' financial needs. The plan enables you to decide how soon you wish to receive income; thus, you can match the payouts to your life plans, including retirement or other significant expenditures. When the income stage sets in, you receive a set of predictable, regular incomes, which help you handle current financial obligations.

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Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Eligibility Criteria for the SUD Life Century Income Plan

Criteria Minimum Maximum
Entry Age 18 years 50–60 years (varies by plan option)
Maturity Age 33 years 85 years
Annualised Premium ₹50,000 As per the underwriting
Sum Assured ₹5,00,000 As per the underwriting
Premium Payment Term 7 years 12 years
Policy Term 10 years 25 years
Eligible Individuals Residents of India —
Plan Options Immediate, Deferred, Twin Income —

Features of the SUD Life Century Income Plan

Some of the key features of the SUD Life Century Income Plan include:

  • This plan offers flexibility to choose between three income options: Immediate Income, Deferred Income, and Twin Income, based on your financial needs.
  • You can start receiving guaranteed income as early as the end of the first policy year, or defer it to a later stage.
  • The plan provides an option to accumulate your income in a Safe Box facility and withdraw it as needed.
  • It also allows you to receive income on special dates, such as birthdays or anniversaries, for better financial planning.
  • With the Premium Offset feature, you can adjust future premiums using the accumulated income.
  • Higher premium payments may result in enhanced benefits, helping you build a larger corpus over time.
  • Premiums paid and benefits received may be eligible for tax benefits as per applicable 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 Century Income Plan

The SUD Life Century Income Plan is a product that provides savings and protection benefits. It is appropriate for those who want a guaranteed income and financial security.

  • Maturity Benefit: On survival until the end of the policy term, you will get a guaranteed maturity benefit that will be in the form of a lump sum.
  • Death Benefit: under the event of death of the life assured during the term of the policy, the nominee will receive the greater of:
    • Sum Assured on Death (typically 10 times the annual premium), or
    • Surrender value, or
    • 105% of total premiums paid
  • Guaranteed Income: Depending on the option chosen, you receive regular income either from the first year, after the premium term, or at specific intervals.
  • Flexible Income Options: The plan lets you choose how and when you receive income, helping you align with your financial goals.

Policy Details of the SUD Life Century Income Plan

People should familiarise themselves with the policy conditions to make informed decisions.

  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 Century Income Plan

  • Suicidal Cover: In case the death occurs by a suicide within 12 months following the time of policy start or upon revival, the coverage will be financed as per the terms and conditions of the policy.

FAQs

  • 1. Is it possible to alter the income choice once having bought the SUD Life Century Income Plan?

    No, the choice of income option once you choose it in the very beginning of the policy cannot be altered in the course of it.
  • 2. What is Safe Box under the SUD Life Century Income Plan?

    The Safe Box feature lets your income grow rather than be withdrawn directly. The accumulated amount will be available when required throughout the policy period.
  • 3. What is the consequence in the event of a failure to make premiums?

    The policy can also lapse or be provided with a lesser benefit based on the number of premiums paid to date during the grace period.
  • 4. Is it possible to take out a loan with the SUD Life Century Income Plan?

    Yes, it is possible to borrow money against the policy when it has built up surrender value, subject to the insurer's terms and conditions.
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Disclaimer: Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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