HDFC Life – YoungStar Udaan plan with sum assured of over Rs. 10 lakh starting from Rs. 2,000/month*
Key features
Key features and benefits of this policy
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Choice of 3 plan options
You can choose from 3 maturity benefit options based on your child’s financial goals – Aspiration, Academia, and Career plans.
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Aspiration plan
An endowment plan (lump sum paid at maturity) to get financial support for larger responsibilities in life.
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Academia plan
A moneyback plan where the payouts are offered in the last 5 years before maturity.
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Career plan
A moneyback plan with payouts in the last 5 years before maturity. It offers a significantly higher payout (40% of the sum assured) on maturity.
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Guaranteed additions on the sum assured
Get guaranteed additions during the first 5 years of the policy:
3% p.a. <= 19 years policy term
5% p.a. >= 20 years policy term
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Choice of multiple death cover options
Choose between classic death cover and classic waiver death cover options. In the case of classic waiver option, no future outstanding premiums need to be paid.
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Multiple policy and premium payment terms
Choose from minimum of 15 years to maximum of 25 years policy terms, and limited premium payment terms of 7, 10 and policy term minus 5 years.
Eligibility criteria and documents required
Anyone can apply for HDFC Life YoungStar Udaan as long as you meet these basic criteria mentioned below. If you meet all the eligibility criteria, we will need a set of documents to complete your application process.
Eligibility criteria
- Nationality: Indian
- Age (Aspiration Option – Classic plan): 30 days to 60 years
- Age (Academia and Career Option – Classic plan: 8 years to 60 years)
- Age (Classic Waiver plan): 18 years to 55 years
Documents required
- Photograph of the applicant
- Age proof, such as PAN card, passport, voter’s ID, birth certificate.
- Address proof, such as telephone bill, electricity bill, aadhar card, etc.
- Identity proof such as aadhar card, passport, PAN card, etc.
- Income proof such as Form-16, salary slips, employment certificate, etc.
Step-by-step guide to buy this policy
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Step 1
Click on ‘Get Quote’ to open our online application form.
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Step 2
Enter the required details – amount you want to invest, name, date of birth, and contact number.
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Step 3
Choose your preferred plan from the list of products shown by clicking ‘Buy Now’.
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Step 4
Our representative will call you back and explain the products available for you to take an informed decision.
Plan details
Here’s a quick look at the policy details for HDFC Life Youngstar Udaan:
| Policy Details | Description |
|---|---|
| Policy type | Individual |
| Minimum premium (in Rs.) | 2,000*/month |
| Minimum sum assured (in Rs.) | 10 lakh |
| Policy term | 15 – 25 years |
| Plan options | Aspirational | Academia | Career |
| Age at maturity (Classic Variant) | Aspiration: Minimum 18 years and maximum 75 years Academia: Minimum 23 years and maximum 75 years Career: Minimum 23 years and maximum 75 years |
| Age at maturity (Classic Waiver Variant) | All options: Minimum 33 years and maximum 75 years |
| Premiums payment term | Years | 10 years | Policy term minus 5 years |
Terms |
Description |
Grace period |
The policy allows 15 days of grace period for premium payment in monthly mode and 30 days for other modes |
Surrender benefit |
Policyholder will receive the Surrender Value after surrendering the policy. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value |
Free look period |
This policy offers the option of canceling within 15-30 days of receipt of policy documents |
Key inclusions and exclusions
Here’s a quick look at the inclusions and exclusions under the HDFC Life YoungStar Udaan plan:
- Key inclusions
- Key exclusions
| Key inclusions | Description |
|---|---|
| Maturity benefits (Aspiration Option) | Lump sum is paid on maturity which is Sum Assured and Guaranteed Addition | Total benefits is equal to 125% of the Sum Assured |
| Maturity benefits (Academia Option) | Moneyback benefits are paid in the last 5 years of the policy | In the 5th year before maturity, benefit is equal to 30% of the Sum Assured and 15% for the last 4 years before maturity | On maturity, the benefit payable is 15% of the Sum Assured and Guaranteed Additions (25% or 15% the of Sum Assured), making the total benefit equal to 130% or 120% of the Sum Assured |
| Maturity benefits (Career Option) | Moneyback benefits are 15% of Sum Assured in each of the last 5 years | 40% of Sum Assured is paid on Maturity along with Guaranteed Additions at 25% or 15% | Total benefits equal 140% or 130% of the Sum Assured |
| Death Benefits (On death of the Life Assured on or before the Maturity date and provided all due premiums have been paid) | Higher of the Sum Assured on death or 105% of all premiums paid + reversionary bonuses (if declared), Guaranteed Additions and terminal bonus (if accrued) |
| Survival benefits | Availed monthly at the rate of 8.5% of the annual payout |
| Guaranteed additions | Guaranteed additions during the first 5 years of the policy: 3% p.a. <= 19 years policy term | 5% p.a. >= 20 years policy term |
| Key exclusions | Description |
|---|---|
| Suicide | 80% of the total premiums paid are returned in case of suicide within 12 months |
Product information
For complete details on product benefits, features, terms and exclusions, please read the product sales brochure and policy wordings carefully before concluding a sale.
How to claim
Follow these steps to raise claim requests for HDFC Life YoungStar Udaan plan.
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Step 1 - Register your claim request
Register the claim request with the insurer through their website, e-mail or by calling their claim assistance contact number.
Contact No.: 1860 267 9999
Email at: service@hdfclife.com -
Step 2 - Submit the required documents
Submit the necessary documents along with the duly filled claim form online or to the nearest branch of the insurer.
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Step 3 - Claim settlement
The claim request will be assessed, and the status will be informed to the claim initiator via e-mail and SMS. It can also be checked online on the insurer’s website.
Documents required for raising a death claim request
Here is the list of documents you need to raise a claim for HDFC Life YoungStar Udaan plan.
- Original policy documents
- Attested copy of death certificate issued by local municipal authority
- Death claim intimation form
- NEFT mandate form attested by bank authorities or copy of cancelled cheque or bank account passbook
- Nominee's photo identity and address proof such as copy of passport, voter identity card, aadhar (UID) card, etc.
- FIR copy or post-mortem report in case of an accidental/unnatural death
Documents required for raising a critical illness claim request
Here is the list of documents you need to raise a critical illness claim for HDFC Life YoungStar Udaan plan.
- Attested copies of medical records/ indoor papers of the hospital
- Critical illness claim form
- Hospital discharge summary
- Hospital bills
- NEFT mandate form attested by bank authorities or copy of cancelled cheque or bank account passbook
- Claimant's photo identity & address proof such as copy of Passport, Voter identity card, Aadhar (UID) card, etc.
Frequently asked questions
Provided all due premiums are paid, the death benefit offered under this policy is:
Higher of the Sum Assured on death
or
105% of all premiums paid + reversionary bonuses (if declared), Guaranteed Additions and terminal bonus (if accrued)
On top of that, in the Classic Waiver plan, all outstanding future premiums are waived off and paid by the insurer and the plan continues to participate in profits till maturity.
You can choose from 3 maturity benefit options -
Aspiration plan
An endowment plan (lump sum paid at maturity) to get financial support for larger responsibilities in life.
Academia plan
A moneyback plan where the payouts are offered in the last 5 years before maturity.
Career plan
A moneyback plan with payouts in the last 5 years before maturity. It offers a significantly higher payout (40% of the sum assured) on maturity.
This policy offers multiple policy and premium payment terms.
You can choose from a minimum of 15 years to a maximum of 25 years of the policy term, and limited premium payment terms of 7, 10 and policy term minus 5 years.
You can avail of tax exemptions for premiums paid under applicable tax laws.
