SUD Life Centurion – a FIXED partner for at least a good 100 Months

Financial planning can be complex and may push you to seek help more often than not. Normal people like us are constantly seeking solutions that offer an economical and effective blend of security, growth, and flexibility. We, at Star Union Dai-ichi Life Insurance, have come up with our flagship Life Insurance Savings Plan called SUD Life Centurion that can safeguard you while growing your funds over a period of time, giving you a holistic insurance plan crafted to meet your diverse needs and goals.

Let’s begin with a detailed understanding of SUD Life Centurion, looking at its various features, benefits, real-life applications, and the broader implications it holds for individuals striving for financial well-being.

Understanding SUD Life Centurion – Plan well, boss!

At its core, SUD Life Centurion is a product to build your financial well-being and prosperity. Designed as a Non-Linked, Non-Participating Individual, Savings Life Insurance plan, it offers policyholders a unique opportunity to secure their family’s future through a combination of protection and savings benefits. 

Whether you’re a young professional just starting a family or a seasoned investor looking to diversify your portfolio, SUD Life Centurion provides a flexible and comprehensive solution tailored to your needs.

What are some of the benefits of SUD Life Centurion?

Entry Age and Maturity Age

SUD Life Centurion welcomes people at various life stages, starting from as young as 10 years old up to 65 years for Option 1 or 40 years for Option 2. This means whether you’re just starting out or well into your career, there’s an entry point for you.

The maturity age is a sum of your entry age and policy term, ranging from 18 years to 74 years. This means, you can adjust the plan according to your unique financial goals and the stage of life you are at.

Single-Pay Premium

SUD Life Centurion simplifies financial planning for you by offering a one-time premium payment option. No hassles whatsoever of your policy lapsing because you forgot to pay your premiums on time! With a minimum of Rs. 1,00,000, you can make a single investment and enjoy coverage for the entire policy term of 100 months. This means no more worrying about monthly or yearly payments. It’s a straightforward process that streamlines your financial commitments and makes managing your plan and finances easier.

Two Plan Options

Understanding that everyone’s needs are different, the plan gives you the option to choose the level of coverage that suits you best. You get two options under the plan to choose from –

Option 1 –

Opting for Option 1 with SUD Life Centurion prioritizes higher returns on your investment. With coverage set at 1.25X your premium amount, this option ensures that you receive higher returns after the policy term, with the Internal Rate of Return (IRR) reaching up to a maximum of 7.2%. By focusing on the growth potential of your investment, Option 1 allows you to build wealth and achieve your financial goals more effectively.

Whether you’re saving for retirement, planning for your children’s education, or investing in your future, it provides the opportunity for greater financial growth and prosperity.

Option 2 –

Choosing Option 2 with SUD Life Centurion prioritizes providing comprehensive protection for your loved ones. With life cover set at 10X of your premium amount, this option offers a larger life cover, ensuring that your family is well-protected in the event of any unforeseen circumstances. While Option 2 may offer slightly lower returns compared to Option 1, its focus on providing a larger life cover gives you the peace of mind that your family’s financial security is safeguarded.

Regardless if you’re the primary breadwinner or a key provider for your family, this option ensures that your loved ones are adequately protected, allowing them to continue their lives with confidence and security.

Policy Term

SUD Life Centurion offers a fixed policy term of 100 months, providing stability and consistency. This means you know exactly how long your coverage lasts and can plan your finances with confidence. With a clear framework in place, you can execute your financial goals with precision, knowing that your future is secure.

Getting too complicated to understand? Follow us through the examples below –

Imagine a 25-year-old professional, Ms. Patel has just begun her financial and professional journey. Concerned about her family’s financial security, she decides to keep her money safe by investing in SUD Life Centurion, choosing Option 1 with a sum assured on death of 1.25X of her premium amount. As she climbs the corporate ladder year by year, her financial responsibilities climb upstairs too. But 6-7 years down the line, she feels tired of her 9 to 5 and decides to take a break. But the cost of being unemployed in an environment where inflation rates are soaring can get difficult. Here, SUD Life Centurion can give her peace of mind for the 100 months of her policy term, ensuring that her unemployment doesn’t pose a problem for her family for too long.

Consider Mr. and Mrs. Gupta, a couple in their early 40s with children entering college. Like every other family in India, they feel that they should invest their money safe from the volatile financial instruments for their children. So, they opt for SUD Life Centurion, choosing Option 2 with a sum assured on death of 10X of their premium amount. In the unfortunate event of Mr. Gupta’s demise during the policy term, Mrs. Gupta can receive a lump sum payout during their policy term, providing her with the financial resources needed to support their children’s education and maintain their interim standard of living. This way, they know that whatever the event be, their family is guarded from the uncertainties of life.

What else does SUD Life Centurion offer?

In addition to its core features and benefits, SUD Life Centurion offers policyholders a range of strategic opportunities for financial empowerment:

Building a Financial Corpus

So, SUD Life Centurion not only keeps your money safe but also helps it grow. By saving money and making the wise investment decision of putting your hard-earned funds into this plan, you can use it to build a strong financial foundation for the near future. This means that the money you put into the plan will grow over time unaffected by the market conditions, allowing you to achieve your big financial dreams, like buying a moped or a 2-wheeler or making sure that your home renovations don’t get halted again.

Let’s say you start investing in SUD Life Centurion while you’re in your 30s. Over the span of 100 months, the money you put into the plan grows steadily, because of your disciplined savings habits and investment choices. By the time you reach the maturity of the plan, you have a significant sum of money waiting for you, which you can use to enjoy your short-term goals without worrying about digging a hole into your finances.

Save on Taxes

And like any other life insurance plan, when you invest in this one, you’re not just securing your future, you’re also saving money on your taxes under Section 80C of the Income Tax Act of 1961. This plan offers tax benefits that allow you to reduce the amount of tax you pay, helping you keep more money in your pocket. This means that not only are you protecting yourself and your family, but you’re also maximizing your savings and making the most of your hard-earned money.:

See, you have bought the plan. Now when tax season rolls around, you can claim deductions on the premiums you’ve paid, lowering your taxable income and reducing the amount of tax you have got to pay. Put simply, you get to keep more of your money, allowing you to invest it back into your future or use it for other goals.

No two eggs in one basket!

By allocating funds towards insurance-based assets like SUD Life Centurion, you can diversify your investment portfolio for your long-term and short-term goals and aspirations. This diversification can help you mitigate risk, enhance your portfolio resilience, and achieve a more balanced and diversified approach to wealth management.

Say you have a diverse investment portfolio that includes stocks, bonds, and real estate but misses insurance. By adding SUD Life Centurion to the mix, you’re spreading your risk across different asset classes, making your portfolio more robust and better able to withstand market fluctuations.

In conclusion, SUD Life Centurion offers more than just insurance; it’s a complete solution for your financial well-being. It provides a solid framework for long-term security and prosperity, giving you peace of mind in an unpredictable world. Whether you’re just beginning your financial journey or preparing for retirement, SUD Life Centurion is designed to give you clarity, flexibility, and confidence in managing your finances.

With its flexible features and robust benefits, SUD Life Centurion empowers you to take control of your financial future. It offers strategic opportunities for financial empowerment, allowing you to build a brighter and more secure future for yourself and your loved ones.

So why wait? Invest in SUD Life Centurion today and start your journey towards financial security and prosperity. With SUD Life Centurion by your side, you can navigate life’s financial complexities with confidence and conviction, knowing that you have a reliable partner to support you every step of the way.

Disclaimer

SUD Life Centurion (UIN – 142N101V01) is a Non-Linked Non-Participating Individual Savings Life Insurance plan.

*Tax benefits are governed by specific conditions outlined in Sections 80CCC and 10(10A) of the Income Tax Act, 1961, and other applicable provisions. Tax laws may change over time. Customers are advised to consult with their Chartered Accountant or personal tax advisor for guidance on their tax liabilities under the Income-tax law.

Star Union Dai-ichi Life Insurance Company Limited
IRDAI Regn. No: 142 | CIN: U66010MH2007PLC174472

Registered Office: 11th Floor, Vishwaroop I.T. Park, Plot No. 34, 35 & 38, Sector 30A of IIP, Vashi, Navi Mumbai – 400 703 | Contact No: +91 22 7196 6200 | 1800 266 8833 (Toll Free) | Timing: 9:00 am – 7:00 pm (Mon – Sat)| Email ID: customercare@sudlife.in | Visit: www.sudlife.in | For more details on risk factors, terms and conditions, please refer to the sales brochure carefully, before concluding the sale. |Trade-logo displayed belongs to M/s Bank of India, M/s Union Bank of India and M/s Dai-ichi Life International Holdings LLC and are being used by Star Union Dai-ichi Life Insurance Co. Ltd. under license.

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