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SUD Life Protect Shield Plus vs LIC New Tech Term

Comparing :
How we score
beshak-icon star
beshak-icon star
01 Claims Experience
% of claims settled in less than 30 days
Reflects on the speed of settling valid claims
% of Complaints received on overall claims
% customers unhappy with claims experience
How complex is the Claim Form?
The longer, the more hassles during claims
Moderately Long
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02 Customer Service
Response time on Toll-Free BETA
How long does it take for the caller to connect with an customer service agent over toll-free?
Response time on Twitter BETA
How quickly does a user get a response on complaint Tweets?
% of Complaints received for after-sales service
% customers unhappy with after-sales service
03 product benefits
Increasing Cover
Cover starts increasing from
cross red
6th Year onwards
How much can the cover increase every year?
cross red
Cover can increase up to
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2X of Base Cover
Claim Payout Customization
Options for claim payout
Options available to customize claim payment to your nominee
One time payout option
One time, Installment options
Premium Payment Customizations
Payment modes available to pay the premium
Frequency in which you can pay premium - monthly, yearly installments?
Monthly, Quarterly, Half Yearly, Yearly
Half Yearly, Yearly
Options to pay off premiums before maturity age
Types of Limited pay options available
5, 7, 10, 12, 15 Years
(PT - 5), (PT - 10) Years
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1- Beshak Ratings data was last updated in September 2023.

2- All data was sourced from public disclosures (FY 2023-2024, Q1 and FY 2022-23, Q4), insurer websites, and the IRDAI website. Except Claim Amount Settlement Ratio, for which the data was taken from the IRDAI Annual Report 2021-22.

3- Only features that are currently available for purchase online were considered when calculating the Beshak Ratings.

4- In the Premium Ratings, we do not display premium amounts - instead, we show the product's relative pricing compared to the median.

5- Premium for all plans is calculated for the following profile: 30-year-old, non-smoker, married male, for a sum assured of INR 1 Crore, up to the age of 65 years, paying annual premiums, till the end of the policy. Except for these plans:

  ・Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c - Premium is calculated for a 30-year-old, non-smoker, married male, having Type 2 diabetes, with HbA1c level between 6.5 to 7, for a sum assured of INR 1 Crore, up to the age of 55 years, paying annual premiums for 25 years. 

  ・IndiaFirstLife Guaranteed Protection Plus Plan - Premium is calculated for a 30-year-old, non-smoker, married male, for a sum assured of INR 1 Crore, up to the age of 75 years, paying annual premiums for 40 years. 

  ・TATA AIA Maha Raksha Supreme - Premium is calculated for a 30-year-old, non-smoker, married male, for a sum assured of INR 2 Crore, up to the age of 65 years, paying annual premiums, till the end of the policy. 

6- The overall ratings do not include the premium rating. This is because we believe that the affordability of premiums is a personal thing. Something that seems unaffordable or expensive to one person could seem cheap and affordable to another, regardless of their income. We leave it up to our users to decide whether the price they pay seems reasonable for the features they receive.

7- The Response time on Twitter (Beta) was calculated using a sample set of tweets from February to August 2023 - (Analyzed in September 2023).

8- Claims Experience was assessed based on an audit of various processes and facilities offered by the insurers, during claim settlement.

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Compare SUD Life Protect Shield Plus and LIC New Tech Term

Claims Track Record:

SUD Life Protect Shield Plus

SUD Life Insurance Company has settled 88.65% of claims within 30 days and they have a higher number of claim-related complaints. Their claim settlement ratio is 96.07%, while the claim amount settlement ratio stands at approximately 91.41%. They offer the convenience of online claim tracking and a dedicated toll-free helpline for claims. However, SUD Life Insurance Company does not provide a personal relationship manager for claims and home pick-up service for claims documentation. It also has a moderately lengthy claim form.

LIC New Tech Term

Life Insurance Corporation of India boast an impressive 97.95% claims settlement rate within 30 days, with fewer claim complaints compared to other insurers. Life Insurance Corporation of India’s claim settlement ratio stands at 98.52%, and their claim amount settlement ratio is 96.02%. Additionally, their claim application process is streamlined with a short claim form. However, they do not provide a dedicated personal relationship manager for claims, a home pick-up service for claims documents, and toll-free support for claim-related inquiries. Furthermore, there is no online claim tracking facility available.

Service Experience:

SUD Life Protect Shield Plus

You can reach out to SUD Life Insurance Company through their toll-free telephone number or Twitter. Our research suggests that the response rate on Twitter is average and the toll-free number is fast, compared to other insurers. So, you or your family can contact their toll-free number to get the necessary help promptly.

LIC New Tech Term

Life Insurance Corporation of India provides customer service via their toll-free number and Twitter. According to our research, their Twitter response rate was slow, while their toll-free service was quick, compared to other insurers. If you or your family have any questions or concerns, call their toll-free number to receive a prompt response.

Product Benefits:

SUD Life Protect Shield Plus

SUD Life Protect Shield Plus provides a range of customization options. It offers coverage up to the age of 70, with limited payment options, including 5, 7, 10, 12, and 15 years. You can pay premiums monthly, quarterly, half-yearly, or annually. It offers the payout as a one-time lump sum. It's important to note that this policy does not come with an increasing cover feature and does not offer additional riders. 

LIC New Tech Term

LIC New Tech Term provides a range of flexible customization options. One of the notable features is the Increasing Cover option, which gradually raises your coverage by 10% each year until it becomes double the base policy cover. This increase in coverage starts from the 6th year of the policy. The LIC New Tech Term policy offers a life cover up to the duration of 70 years with various limited payment options - (Policy term - 5) and (Policy term - 10). And, the premiums are payable either half-yearly or annually. When it comes to payout options, you can choose between a lump sum payment and monthly instalments. LIC New Tech Term provides only one rider - Accidental Death Benefit Rider. You can include this rider to your base policy to enhance its coverage.

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