SUD Life Saral Jeevan Bima

SUD Life Saral Jeevan Bima is an individual, non-participating and non-linked, life insurance plan. It offers financial protection for the insured person and his family in the event of unfortunate circumstances as a pure risk premium plan. This plan is a standard, term life insurance plan for individual coverage, with simple features and easy to understand terms and conditions.

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Upto Rs. 46800
Life Cover Till Age
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+Tax benefit is subject to changes in tax laws.

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A recent spike has been seen in the preference of the customer when it comes to the pure term life insurance plans due to their affordability and convenience. So, in order to meet the growing demands of the customers, innovative protection products have been introduced by life insurance companies with different benefits, options, terms, and so forth. The Insurance Regulatory and Development Authority of India (IRDAI) has introduced standardized term insurance product to help the customers make an informed choice.

SUD Life Saral Jeevan Bima is a very transparent and easy to apprehend policy that will pay the particular nominee a fixed sum of money after the death of the policyholder. The plan does not discriminate against the issuance of the policy on the basis of gender, occupation, place of residence, educational qualification, and not even in the case of restriction in travel.

Eligibility Criteria of SUD Life Saral Jjeevan Bima

Let’s take a look at the eligibility criteria of the policy.

Eligibility Criteria





Entry Age

18 years


65 years

Maximum Maturity Age

70 years

Life cover

Rs. 5,00,000


Rs. 25,00,000

Single premium




Annualized premium




Policy terms  

5 years


40 years

Premium payment term (years)

Single, regular pay, 5 pay, & 10 pay

Premium payment terms modes

Single, yearly, half-yearly, and monthly

Loan facility

A loan facility is not provided under this policy.

Benefits Offered by SUD Life Saral Jeevan Bima

SUD Life insurance company provides a plethora of benefits that make its policies popular and attract many policy bearers in the country. The categories in which SUD life provides benefit are given as follows:

Death Benefits:

In case of the demise of the policyholder, given it has happened within the policy term, Sum Assured on Death will immediately be paid to the insured’s beneficiary or the nominee. Amount insured on demise will be paid in lump sum figures. The sum assured to the policyholder is subjected to the premium payment terms (years) of the policy.

All conditions are as follows:

1. In the case of Regular pay, 5 pay and 10 pay

Sum Assured on death will be the highest of these amounts:

  • 10 times of the Annualized Premium OR 105% of total premium paid as on the policyholder’s death date OR ;
  • Absolute Amount Assured on death where:

Annualized Premium refers to premium paid in a year excluding rider premiums, underwriting additional premiums, taxes, and modal premium loadings.

Total Premiums Paid means all the premiums paid by the policyholder and received by the Company, excluding any rider premium, extra premium, and taxes.

2. In the case of Single Premium

Sum Assured on Death is higher of the:

125% of the Single Premium OR the Absolute Amount Assured on death, where the following condition will be observed:

  • If there is any total premium that falls due or is unpaid during the policy year in which death occurs, the death benefit will be reduced by that amount.
  • The policy will cover death due to accidentsonly during the waiting period of 45 days from the date of risk commencement.
  • A waiting period of 45 days is applicable from the date of risk commencement. In the case of policy revival, there will be no waiting period.

Tax benefits:

Tax benefits will be available as per the applicable tax laws of the Indian Income Tax Act. Good and Service Tax (GST) of 18% will also be applicable.

Optional Rider Benefit

SUD Life SaralJeevanBima policy has the provision in which an approved accident benefit and the permanent disability rider can be attached.

The riders are add-on coverage offered by the policy to enhance the coverage of the policy. It can be added to the applied policy by paying some extra sum along with the premium sum of the policy. The Rider Sum Assured will be paid in case of any occurrence covered under the rider takes place, as per the rider's prescribed conditions.

Process to Buy SUD life SaralJeevanBima Policy

The process to purchase SUD life SaralJeevanBima is very easy. After administering quick research from the eligibility table, the customer can decide to purchase the policy. One can buy the policy in both online and offline mode easily. Steps one needs to take to purchase are given below:

Online Process

  • Visit the SUD life insurance company website online, which offers the SaralJeevanBima policy.
  • Click on the three liner option label on the top right of the home page and select the products.
  • Under the 'Products' tab, the option of protection plans and selects the option of SaralJeevanBima.
  • Click on the 'Apply Online,' and an application form will be displayed on the screen.
  • Fill in all the requisites the Company expect from you and upload the essential documents
  • Click on “Submit." This is the final submission of the application form.

Offline Process

  • On the website of SUD Life insurance, one can easily locate the nearest branch. One needs to enter the state and district, and the available branch address will be provided.
  • Get the detailed information about the policy and get a hold of the application form.
  • Thoroughly fill the application paper with the requisite information and details like date of birth, gender, and husband/father name.
  • Attach the important documents like a copy of address proof and id proof.
  • Submit the application to the SUD life insurance company office.

Documents Required While Purchasing the SUD life SaralJeevanBima

The documents required to buy the SaralJeevanBima policy are only an indicative requirement. The policyholder may be asked for additional documents if the policy issuers find anything which can serve as an obstacle in the issuance of the policy. Only copies of the officially valid documents which are attested by the policyholder are accepted. The following documents are required to purchase this SUD life policy:

  • Address Proof- Driving license, Passport, AADHAAR card, or Voter ID Card
  • Passport size photo
  • Mobile number
  • Identity Proof- PAN Card, Passport, Voter ID and matriculation certificate or any academic certificate by a recognized university.


Exclusions mentioned under the SUD life SaralJeevanbima only include under the case of suicide cases. In the case of suicide of the policyholder, the conditions are different in a single premium policy and a regular or a limited premium policy. All terms are given as follows:

1. Single premium policy

This policy shall be considered null and void if the life assured dies by suicide at any time within a year from the date of risk commencement of the policy. The Insurer will not entertain any claim, and the death benefit will be 90% of the single premium paid. This will exclude any extra amount charged by the Insurer on account of taxes, underwriting, and rider premium.

2. Regular/limited premium policy

This policy shall be considered null and void if the life assured dies by suicide at any time within a year from the risk commencement date, provided the policy is active or within a year from the policy revival date. The Company will only pay a sum that equals 80% of the premium paid as a death benefit to the nominee.


  • Q. What is a nomination?

    Nomination is the process of designating a person to receive the policy money payable under life insurance policy upon the happening of the risk event specified in the policy. The nominee is authorized only to give a valid discharge to the policy proceeds when the claim is payable.

  • Q. What is a lapse of the policy?

    If the premium is not paid within the days of grace, then the policy lapses. Typically, the days of grace for policies with the monthly mode of payment is 15 days, and for all other modes, it is one month, not less than 30 days.

  • Q. Can I discontinue the plan in between?

    Suppose there is an emergency and the policyholder does not wish to continue with the policy. In that case, one can cancel the policy anytime within the Policy tenure, provided the Policy has acquired the Cancellation Value. In case of Limited Premium Payment Policies, the policyholder has to cancel the policy before the end of its term, or the maturity date, or at the end of revival period if the policy is not revived,

  • Q. How is the premium calculated?

    The premium depends upon the policy holder’s gender, age, selected sum assured, premium payment term and mode, and policy term. The following modal factors are applied to the annualized premium:

    Yearly = 1

    Half-yearly = 0.5108

    Monthly = 0.0867

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