Quote Form

Our representative will call you within few minutes
Investment Plans 3190 views April 15, 2020
Savings are important for securing one’s future financial needs. Savings secure your loved ones from the uncertainties and financial distress in your absence. Apart from creating a pool of savings, protecting them is one of the most challenging aspects. Protecting savings can be done by investing money in RIGHT instruments. HDFC Life Uday insurance plan is one such way to protect your savings. With HDFC Life Uday protects your savings and boosts them with guaranteed additions and bonuses. By buying HDFC Life Uday insurance plan you ensure the financial safety of your loved ones as they receive a lump sum benefit in the event of your unfortunate death.
Table of Contents
The HDFC Life Uday plan offers a wide range of unique features as under:
Particulars | Criteria |
---|---|
Age at Entry | Minimum 18 Year Maximum 55 Years |
Age at Maturity | Minimum 30 Years Maximum 70 Years |
Minimum Sum Assured on Maturity | Rs 28,465 |
Maximum Sum Assured on Maturity | No Limit, Subject to the approval of Underwriting Policy |
Policy Term | 12 Years or 15 Years |
Premium Payment Term | For 12 years of life cover, the premium paying term is 8 years For 15 years of life cover, the premium paying term can be either 8 years or 10 years |
Premium Payment Frequency | Yearly, Half-Yearly, Quarterly or Monthly |
Premium Amount | Monthly: Rs 500 Quarterly: Rs 1250 Half-Yearly: Rs 2500 Yearly: Rs 5000 No Maximum limit on the premium amount |
The HDFC Life Uday is a comprehensive life insurance policy that offers numerous benefits to the policyholder. The benefits offered by the HDFC Life Uday plan is as under:
Maturity Benefit is payable to the policyholder in the event of survival of the life assured throughout the policy tenure. The maturity benefit under HDFC Life Uday plan is that the life assured shall receive the aggregate amount of:
The death benefit is paid to the nominee in the event of an untimely death of the life assured during the policy tenure, provided all the premiums are paid regularly. The nominee is eligible to receive higher of the following:
Tax benefits are available under this plan. the policyholder is eligible to avail tax benefit on the premium paid under section 80C of the Income-tax Act. Similarly, the amount received as maturity proceeds is eligible for benefit under Section 10(10D) of the Income Tax Act, 1961.
Once the HDFC Life Uday Policy acquires surrender value, the life insured can avail loan facility. This loan facility is available against the surrender value of the policy.
The free-look facility is a benefit offered to the policyholder. Any policyholder who is not satisfied with the terms and conditions of the policy he/she has the facility to cancel the policy in the free-look period. Under the HDFC Life Uday plan, the free-look period is of 15 days starting from the date of receipt of the policy. For cancelling the policy, the policyholder has to submit the original policy document along with a signed written letter stating the reason for cancellation. Once the insurance provider receives the policy document and letter, they shall cancel the insurance contract and refund the premium amount by deducting a few nominal charges.
Under the HDFC Life Uday policy, the policyholder is offered a 30 days grace period for the payment of premium. In the case of monthly premium payment mode, the grace period offered is 15 days. The grace period starts from the date of the unpaid premium. Kindly note, the status of the policy during the grace period shall be ‘in-force’, however, if the premium is not paid in the grace period, then the policy status shall change to ‘Lapsed’.
HDFC Life Uday plan is for people from every walk of life. This plan is designed to secure the future of your loved ones in your absence. Additionally, wealth creation is another important factor in buying this plan. the plan is best suited for individuals looking for an instrument that offers both life cover and savings. The HDFC Life Uday plan proves to be the best insurance plan that helps in achieving financial goals.