Launch Date | UIN | Status |
14/12/2017 | 101N105V03 | Active |
The HDFC Life Uday plan is a combination of a traditional non-linked “with profit” plan along with insurance coverage. The plan helps you to save and protect your money for your family’s future. The plan not only provides guaranteed additions + bonuses + tax benefits but also death benefit in the case of the untimely demise of the insured individual. Additional death benefits are provided if the insured individual dies an accidental death.
Let’s understand this plan in brief before getting into its details.
Modes of Payment |
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Claim Settlement Ratio of the Insurer |
97.62% |
USPs of the Policy |
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Bonus Rate |
The bonus rate is declared based on the financial performance of the company in a particular year |
Illustration with Premium of INR 1 lakh |
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Firstly, the individual who wants to be insured decides the premium paying term (PPT) and the policy term of his/her choice. The individual then selects the sum assured on maturity.
Let’s understand the benefits offered with this plan:
Guaranteed Additions – Guaranteed additions at the rate of 3% per annum will be paid for the first five years of the policy. Guaranteed additions will be paid at the time of maturity or death.
Note: If the policy is surrendered, the surrender value of the guaranteed additions will be paid.
Maturity Benefits – If the insured individual survives till the maturity date, s/he is eligible to get the following benefits:
Death Benefits – Presuming the insured has paid all premiums regularly, in case of the unexpected death of the insured individual during the policy term, the nominee receives the higher of the following:
Here, the sum assured on death will the highest of the following:
Note: In case of accidental death of the insured, an additional benefit equal to 100% of sum assured on death will be paid to the nominee.
Along with the benefits mentioned earlier, here are some more features that the HDFC Life Uday plan comes with:
BonusYear | RevBonus | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
2015-16 | 3.60% | |||||||||
2016-17 | 3.60% |
Bonus explained: For a sum assured of Rs. 100000/-, if the bonus declared is 4.2% or Rs 42/- per thousand, then the amount of Rs 4200/- gets accumulated into the policy for that year.
The HDFC Life Uday plan can be purchased by those above 18 years and up to 55 years of age. The plan is a perfect combo of protection and savings and proves to be of great support in fulfilling your life goals.
No riders are available with this plan.
HDFC Life is a joint venture between HDFC Limited and Standard Life plc, one of the leading financial service providers from UK. The company offers a wide range of individual and group insurance products to meet the various financial needs of customers.
Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.