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HDFC Life YoungStar Udaan Insurance Plan

HDFC Life YoungStar Udaan Insurance Plan - Since the birth of the child, parents make sincere efforts to ensure that their child can dream big without having second thoughts. We, at HDFC Life, are here to help you empower your child’s dreams and live the rest of your life as the proud parents you deserve to be.

Presenting theHDFC Life YoungStar Udaan,a traditional participating insurance plan. This plan is ideal for parents who wish to make provision for:

  1. Academic expenses that occur prior to college education
  2. Specific goals like college fees or marriage expenses etc
  3. All miscellaneous and extracurricular expenses that occur during college/school

HDFC Life YoungStar Udaan Insurance Plan (Features):

  • Three Maturity benefit options to choose from based on which your survival/maturity benefits payable are decided
    1. Aspiration (Endowment benefit) – Lumpsum payout at maturity
    2. Academia (Moneyback benefit) – payouts during last 5 policy years with first guaranteed payout higher than subsequent guaranteed payouts
    3. Career (Moneyback benefit) – payouts during last 5 policy years with last guaranteed payout higher than previous guaranteed payouts
  • Two Death Benefit options to choose from based on which death benefit payable are decided
    1. Classic: Policy Terminates after payment of death benefit
    2. Classic Waiver: Policy continues after payment of death benefit + Future Premiums waived
  • Limited PPT of 7, 10 or Policy term minus 5 years
  • Flexibility to choose your policy term from 15 to 25 years as per your child’s future needs
  • Guaranteed Additions1 during first 5 policy years, if applicable
  • Participating plan with accrued bonuses payable at maturity
  • Option to take this policy by filling a Short Medical Questionnaire (SMQ)2
  • Tax Benefits3 under Section 80C and Sec 10(10D) of Income Tax Act 1961

    1Conditions Apply, please refer to sales brochure;

    2Please refer to underwriting guidelines for conditions;

    3Subject to provisions as per Income Tax Act, 1961. Tax Laws are subject to change

HDFC Life YoungStar Udaan Insurance Plan (Advantages):

  • Survival/Maturity Benefits:

    The table below specifies the series of money back/endowment payouts, payable at the end of each year, for a premium paying or a fully paid-up policy.

    SA: Sum Assured on maturity. GA: Guaranteed Additions

  • Death Benefit: 

    The table below captures the available death benefits during the policy term under various options.

    Death Benefit Options Death Benefits
    Classic Basic Death benefit + Accrued Guaranteed Additions + Accrued Bonuses, if any
    Classic Waiver Basic Death benefit + Premium Waiver

    The table below describes each of the above benefits in detail.

    Basic Death Benefit

    The basic death benefit shall be the higher of:

    • Sum Assured on Death
    • 105% of Premiums paid

    The Sum Assured on Death shall be the higher of:

    • Sum Assured on Maturity^
    • 10 times Annualised Premium for entry age up to 50 years and 7 times Annualised Premium for entry age greater than 50 years
    Premium Waiver
    All future outstanding premiums under the policy will be waived. The contract shall continue and the benefits as per Survival benefit and Maturity Benefit shall be available.

    For the purpose of computation of Death Benefit, the premiums shall exclude any underwriting extra premiums, any loadings for modal premiums and any taxes paid such as service tax and education cess.

    For more details on risk factors, terms and conditions, please read the Product Brochure carefully and/or consult Financial Consultant before taking a decision.

HDFC Life YoungStar Udaan Insurance Plan (Eligibility):

Udaan Eligibility

All ages mentioned above are age last birthday. The minimum entry age and the policy term selected shall be such that the maturity age limits are met.

For more details on risk factors, terms and conditions, please read the Product Brochure carefully and/or consult Financial Consultant before taking a decision.

HDFC Life Insurance Children's Plans and Policy

Disclaimers:

Starting premiums for this plan are Rs. 24000 per year and the plan is available only on an annual mode

HDFC Life Smart Woman Plan (Form No: P501, UIN: 101L082V02). This is a unit linked non participatory product. For more details on risk factors, terms and conditions and exclusions please read the product brochure or consult financial consultant before conclusion of sale. Unit linked insurance plans are different from traditional plans and are subject to different market risks. The investment risk in the portfolio is borne by the policyholder. (hdfclife.com)

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