HDFC Life Young Star Udaan Plan

In this plan if the Life Insured, i.e. the parent dies within the policy tenure, the nominee, i.e. the child/family would receive the lump sum amount and the future premiums payable by the policyholder would in turn be paid by the company to the nominee for the benefit of the child. The policy offers – Guaranteed Additions, Maturity Benefit, Bonuses, to take care of child’ s academic expenses, college fees, and marriage expenses etc.

Key Features

  • Aspiration (Endowment benefit)
  • Academia (Money back benefit)
  • Career (Money back benefit)

Benefits

  • Maturity benefit
Will be aggregate of the following pay out:
  • Last guaranteed pay out for money back options or Sum Assured on Maturity for endowment options
  • Accrued Guaranteed Additions (if applicable)
  • Reversionary Bonus, Interim Bonus, Terminal Bonus (if applicable)
    • Death benefit
    There are 2 death benefit options available as below: Under Classic Option - In case of death of the Life Insured i.e. the parent, the nominee, i.e. the child would get the higher of - Sum Assured on death - 105% of Premiums paid

    Add-ons

    • Investment Fund Options
  • Short Term Fund
  • Income Fund
  • Balanced Fund
  • Blue Chip Fund
  • Opportunities Fund
  • Am I eligible?

    PARAMETER MINIMUM MAXIMUM
    ENTRY AGE 0 60
    POLICY TERM 15 25
    AGE OF MATURITY 18 75
    PREMIUM PAYEMENT TERM SAME AS POLICY TERM
    PAYMENT TERMS YEARLY

    What if?

    • I want to switch from my policy?
    Switching from one fund to another is allowed anytime.
    • I want to do partial withdrawals from my policy?
    Partial withdrawals are allowed only after completion of 5 policy years. The minimum amount for Partial Withdrawal is Rs 10,000 such that at least 150% of the annual premium remains in the Fund Value and the maximum Partial Withdrawal is 300% of the original regular premium.

    Exclusions

    • From the date of inception of the policy, the nominee of the policy holder shall be entitled to 80 % of the premiums paid , provided the policy is in force.
    • From the date of revival of the policy, the nominee of the policyholder shall be entitled to an amount which is higher of 80 % of the premiums paid till the date of death or the surrender value as available on the date of death.