Star Union Dai-Ichi Life Insurance's SUD Life e-Lifeline is an affordable term insurance plan, meant to give total coverage at a minimal premium. In comparison with the coverage amount, it is very economical and much lower in cost to protect your family's financial future. This policy therefore caters to dependents by ensuring that their dependents or family members do not have the burden of their early death during a policy term in that it cushions them with payment that helps them finance their needs while taking care of their expenses as well.

As compared to all the other term insurance plans available in the market, the SUD Life e-Lifeline promises competitive pricing. Though, it doesn't come absolutely free of limitations as well. A few limitations are no limited pay options for the plan, the absence of a critical illness coverage addition feature, and the ability to increase or customise the payout of claims during a claim procedure. Moreover, our research indicates that the insurer has received a higher volume of complaints concerning claim settlements and the policy purchasing experience.

Next, let’s take a closer look at the SUD Life Protect Shield Plus Plan.

Key product features of SUD Life e-Lifeline Plan

Key features offered by the SUD Life e-Lifeline Plan include:

Life Cover Option: This ensures that in case of your death during the policy term, there will be a financial payout to your family. Additionally, it also offers tax benefits under Section 80C of the Income Tax Act, which means the premiums paid under the plan are eligible for tax deductions.
Early Exit Option: Unlike other policies, the SUD Life e-Lifeline Plan does not have an early exit option. This means you cannot withdraw your premiums or leave the plan before its term ends.
Increasing Cover: The SUD Life e-Lifeline Plan does not offer the option to automatically increase your coverage over time. Unlike some policies where the coverage gradually rises to a maximum limit, this plan maintains a fixed sum assured throughout its term.
Cover Period: The SUD Life e-Lifeline Plan offers coverage until the age of 70, which is an advantage compared to many other plans that typically offer coverage only up to the age of 60 or 65. This extended coverage ensures you remain protected even after retirement and into your later years.
Claim Payout Option: This option offers the nominee a certain amount of money as a payout in case of a claim. In contrast to other plans that may offer structured or multiple payout options, the entire claim is paid out in a single instalment.
Limited Pay Option: The option of limited pay allows you the opportunity to make premium payments in larger amounts over a shorter period before the maturity age. You can do this either through monthly, quarterly, annual or half-yearly payments. This option is ideal for those who may want to have their payments clear before their incomes stabilise and get reliable.

What are the Riders available with the SUD Life e-Lifeline?

Riders or add-on benefits can help you customise your term insurance plans for different specific situations. However, the SUD Life e-Lifeline Plan does not provide its customers with any rider options like the critical illness or accidental death rider.

Why should you choose the SUD Life Insurance Company?

This is an overview of the claims experience with SUD Life Insurance:

Speed of Claim Settlement: SUD Life Insurance settles 94.38% of the claims within the time frame of 30 days.
Claim Settlement Ratio: The claim settlement ratio lies at 98.29% for SUD Life e-Lifeline Plan.
Online Claim Tracking: SUD Life Insurance enhances the claims experience by offering an online tracking system. This feature provides claimants with added convenience and transparency, allowing them to easily monitor the status and progress of their claims in real time.

What are the drawbacks of buying from SUD Life Insurance Company?

Here are a few limitations you may face while buying a term insurance policy from SUD Life Insurance:

Personal Relationship Manager: SUD Life Insurance does not provide a personal relationship manager to help your nominee at the time of claim settlement. This will lead to less personalized service compared to the insurers that offer dedicated support.
Home Pickup for Claims: Unlike many competitors, SUD Life does not allow home collection of claim documents. The nominee will have to visit the branch in person to submit the claim-related paperwork.
Length of Death Claim Form: The death claim form at SUD Life is much lengthier than at most other companies, with numerous questions that are to be replied to.
Purchase Complaints: SUD Life Insurance Company recorded more complaints in policy buying as against other insurance companies
Claim Related Complaints: Based on our findings, SUD Life Insurance recorded a higher claim complaint ratio, standing at 0.19% as compared to other insurers.

How is the customer service quality of SUD Life Insurance Company?

We have evaluated the customer service of SUD Life Insurance based on two key metrics:

Toll-free Service: Our analysis indicates that the response time via SUD Life Insurance’s toll-free number is average when compared to other insurers.
X (Twitter) Response: SUD Life Insurance's response time on their X (Twitter) handle is slower than that of many other companies.
After-Sales Service Complaints: The percentage of complaints about after-sales service stood at 0.70%.

About the Insurer - Star Union Dai-ichi Life Insurance Company Limited

SUD Life, also known as Star Union Dai-Ichi Life Insurance, is an Indian life insurance company founded in 2009. It is a joint venture between Union Bank of India, Bank of India, and Dai-ichi Life Holdings, one of the leading Japanese insurance companies. The company is headquartered in Mumbai and is headed by its CEO and Managing Director, Mr. Abhay Tewari.

Final Review on the SUD Life Protect Shield Plus Plan

After evaluating more than 100+ factors, including benefits, customer service, and claims experience, our in-house research team has assigned the SUD Life Protect Shield Plus Plan a Beshak⭐Rating of 2.0/5.