HDFC Life YoungStar Udaan - Get Payouts for Child's Key Milestones

All You Need To Know

Age limit

Eligibility Criteria	Death Benefit Options	Maturity Benefit Options	Minimum age	Maximum age
Age at entry	Classic	Option 1 - Aspiration	0 years (30 days)	60 years
		Option 2 - Academia	8 years
		Option 3 - Career	8 years
	Classic Waiver	All options	18 years	55 years
Age at maturity	Classic	Option 1 - Aspiration	18 years	75 years
		Option 2 - Academia	23 years
		Option 3 - Career	23 years
	Classic Waiver	All options	33 years	75 years

Plan options

Aspiration

Based on your requirements, choose between 2 plans – Classic and Classic Waiver – with 3 maturity benefit options and 2 death benefit options

Premium

Pay premiums only for 7, 10 or policy term minus five years

Ways to pay

Conveniently pay your premiums or renew your policy through multiple modes -- credit card, internet banking, cheque, auto debit facility

Policy term

Classic

Choose a policy term from 10 to 25 years based on your child’s needs

Maturity benefit

There are 3 kinds of maturity / survival benefits you can choose from:

Aspiration:

Lump sum pay out at maturity

Academia:

Pay outs during the last five policy years with the first year’s guaranteed pay outs higher than subsequent guaranteed pay outs

Career:

Pay outs during the last five policy years with the last guaranteed pay out higher than previous guaranteed pay outs

The details of these options are given below in the table
(SA = Sum Assured and GA = Guaranteed Additions)

	Maturity Benefit Option
Year of Payout	Aspiration	Academia	Career
5^th year before maturity	-	30% of SA	15% of SA
4^th year before maturity	-	15% of SA	15% of SA
3rd year before maturity		15% of SA	15% of SA
2nd year before maturity	-	15% of SA	15% of SA
1^st year before maturity	-	15% of SA	15% of SA
At maturity	100% of SA + GA + accrued bonuses	15% of SA + GA + accrued bonuses	40% of SA + GA + accrued bonuses
Total	100% of SA + GA + accrued bonuses	105% of SA + GA + accrued bonuses	115% of SA + GA + \ accrued bonuses

Monthly survival benefit

You have the option to receive the survival benefits (other than the final pay out, payable on maturity) in monthly instalments, as follows:
8.5% of the annual survival pay out, payable 12 months, with the first instalment being paid on the policy anniversary on which annual survival pay out falls due

Death benefit

Classic:

Basic death benefit + accrued guaranteed additions + accrued bonuses if any

Classic Waiver:

Basic death benefit + premium waiver

The Sum Assured on Death is the Sum Assured on Maturity + 10 times the annualised premiums if entry age below 50 and 7 times if above 50

Under the premium waiver option, all future outstanding premiums are waived off and maturity benefits will continue

Tax benefit

Get tax benefits under 80C and SEC 10 (10D) of the Income Tax Act, 1961

Bonuses

Enjoy guaranteed additions of 3% per annum for first 5 policy years if policy term is lower than 19 years
Get 5% per annum for first 5 policy years if term is higher than 20 years

Medical

Avoid a medical test by filling up a short questionnaire while buying the policy

View Commission-related information

FAQs

1. What is the Min/Max age at Entry/Maturity?

Eligibility Criteria	Death Option	Maturity Benefit Option	Minimum	Maximum
Entry Age	Classic	Option 1 Aspiration	0 years (30 days)	60 years
		Option 2 Academia	8 years
		Option 3 Career	8 years
	Classic Waiver	All Options	18 years	55 years
Maturity Age	Classic	Option 1 Aspiration	18 years	75 years
		Option 2 Academia	23 years
		Option 3 Career	23 years
	Classic Waiver	All Options	33 years	75 years

For all ages, risk commences from the date of inception of the contract.

2. What is the minimum premium that needs to be paid?

Premium Frequency	Minimum Installment	Excluding Tax
Annual	24000
Half Yearly	12000
Quarterly	6000
Monthly	2000

3. What is the Death Benefit under the plan?
Classic Death Benefit:-
he death benefit shall be higher of
• Sum Assured on Death
• 105% of Total Premiums paid In addition, accrued Guaranteed Additions, accrued reversionary bonuses (if declared), interim bonus (if declared) and terminal bonus (if declared) would be payable. Where the Sum Assured on Death shall be the higher of:
• Sum Assured on Maturity^
• 10 times Annualized Premium3 for entry age up to 50 years and 7 times Annualized Premium for entry age greater than 50 years
The policy will terminate with no further benefits payable
In addition, accrued Guaranteed Additions, accrued reversionary bonuses (if declared), interim bonus (if declared) and terminal bonus
(if declared) would be payable.
Classic Waiver Death Benefit:-
The death benefit shall be higher of
• Sum Assured on death
• 105% of Total Premiums paid
Where the Sum Assured on Death shall be the higher of: • Sum Assured on Maturity
• 10 times Annualized Premium for entry age up to 50 years and 7 times Annualized Premium for entry age greater than 50 years
*T&C applied please read brochure for more details

4. What is the Maturity Benefit under the plan?
Maturity benefit will be aggregate of the following
A. Last guaranteed payout for Money back Options OR ‘Sum Assured on Maturity’ for Endowment Option.
B. Accrued Guaranteed Additions (if applicable)
C. Reversionary bonus, interim bonus and terminal bonus, if declared. For Maturity benefit on reduced paid up policy please refer the section of reduced paid up & revival below, on payment of the maturity benefit the policy will terminate & no more benefits will be applicable. In case where the life assured is minor the policy will automatically vest on him or her on attaining 18 years of age.

5. Can I save tax by investing in this policy?
Yes, Tax Benefits may be available as per prevailing tax laws. You are requested to consult your tax advisor

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Disclaimer

HDFC Bank Limited (IRDAI Registration No: CA0010) is the Corporate Agent of HDFC Life Insurance Company Limited and does not underwrite the risk or act as an insurer. HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013. Participation by the Bank’s clients in the Insurance products is purely on a voluntary basis. The contract of Insurance is between HDFC Life and the Insured and not between HDFC Bank and the Insured.This policy is underwritten by HDFC Life Insurance Company. Registered Office: 13th Floor, Lodha Excelus, Apollo Mills Compound, N. M. Joshi Marg, Mahalaxmi, Mumbai - 400 011. The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited.HDFC Life YoungStar Udaan (101N099V04) is a Non-Linked, Participating, Life Insurance Plan. Life Insurance Coverage is available in this product. This version of the Product brochure invalidates all previous printed versions for this particular plan. This Product brochure is indicative of the terms, warranties, conditions and exclusions contained in the
insurance policy. Please know the associated risk and applicable charges from your insurance agent or the intermediary or policy document of the insurer. ARN: PP/07/20/19873

“As per recent changes in section 10(10D) of Income Tax Act, where the amount of aggregate annual premium payable in the financial year in case of Traditional plans (all non-unit linked plans except Annuity, Pension and Pure Risk Plans) issued on or after 1st April 2023 exceeding INR 5,00,000 the benefits of the policy/policies shall not be eligible for exemption under section 10(10D) except in case of death”. The customer is requested to seek advice of a tax advisor with respect to his/her personal tax liabilities under the Indian Income-tax law."