What does SUC mean? What is the full form of SUC?
The Full Form of SUC is Sum Under Consideration.
The “Sum Under Consideration” is the sum of “Actual Sum Assured” under all the current proposals and policies taken in last two full years on the basic of date of commencement. For example, if the date of current proposal is between 1st August 2003, to 31st August 2003 SUC will be the actual sum assured under the current Proposals and all Previous Policies from 1st August 2001 till the date of current proposal. (C.O. Circular No.: Actl/1889/4 dt. 31.07.2003)
SUC
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Sum Under Consideration
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