SUD Life Protect Shield
Introduction to SUD Life Protect Shield
SUD Life Protect Shield is a term insurance plan offered by Star Union Dai-Ichi Life Insurance Company, also known as SUD Life Insurance Company. A term insurance plan is by far the cheapest, most efficient way to secure the future of your loved ones, and protect them against the risk of your death. It pays a sum of money, based on the cover amount you choose - to your family, in case your death happens during the policy period. This money can ensure that all their financial needs are catered to - both in the short term and in the long term.
This product is reasonably priced compared to other products in the market and offers several options for tailoring how your family receives the claim amount. It, however, doesn’t provide many limited pay options or allow you to choose important customizations such as increasing cover, etc. Moreover, our research indicates that the insurer has received a higher number of claim settlement complaints as well as policy purchase complaints, suggesting a poor track record in terms of both purchase and claims service experience.
Pros & Cons: SUD Life Protect Shield
Fairly priced in comparison to other products in the market- Several options to customize claim payout
- Critical illness rider available, and the payout is in addition to the life cover amount
Not many Limited Pay options available, to speed up payments- Doesn't offer the option to automatically increase your claim amount, with time
- No option to exit the plan while it is still active and receive a refund of premiums
- Received higher number of complaints on claim settlement compared to other insurers
- Received higher number of complaints during policy purchase compared to other insurers
About Star Union Dai-ichi Life Insurance Company Limited
SUD Life, also known as Star Union Dai-Ichi Life Insurance, is a life insurance company in India. The company was founded in 2009 and is a joint venture between two of India's leading public sector banks, Bank of India and Union Bank of India, and Dai-ichi Life Holdings, a leading life insurance company in Japan. The company is headquartered in Mumbai the CEO/MD of SBI Life is Mr. Abhay Tewari.
Detailed Product Specs & Rating: SUD Life Protect Shield
Compare SUD Life Protect Shield
with top term life plans
Compare Plans
Add 3 more plan to compare