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HDFC Life Uday

 4.0 / 5.0   by 1169 users
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Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

Overview

An insurance policy not only provides life cover that ensures a lump sum to your family in the unfortunate event of your demise but also serves as a long term investment that can help you plan for your future. The HDFC Life Uday is a policy that enables you to protect your investments and helps you secure your future financially. This policy has guaranteed additional benefits that help grow your corpus so that you can live life to the fullest even after retirement.

Eligibility of HDFC Life Uday

Criteria

Minimum

Maximum

Age of Entry

18 years as at last birthday

55 years as at last birthday

Age of Maturity

30 years as at last birthday

70 years as at last birthday

Term of policy

12 years

15 years

Sum assured

RS 28,465

No limit

Payment terms for premium

8 years

10 years

Premium payment modes

Monthly, Every 3 months, every 6 months and yearly

 

Premium

RS 500 for monthly, 1250 for every 3 months, 2500 for every 6 months and 5000 for annual mode

No limit

Features of HDFC life Uday

  1. The policy is a non linked insurance plan.
  2. The policy is of an individual basis.
  3. The HDFC Life Uday policy offers guaranteed additions of 3% of the sum assured for the first 5 years of the policy.
  4. The policy provides life cover with a standard death benefit and also has an added benefit that covers accidental death.
  5. The policy offers options for premium payment terms that help you customize the plan as per your requirements.
  6. The policy provides rebates for any sum assured above RS 2 lakh.
  7. The policy allows you to enjoy life cover for one year from the last missed premium payment through the guaranteed surrender value status.
  8. The policy allows for a loan.
  9. At the end of every financial year, a percentage of the minimum sum assured is added to the policy in the form of bonuses.
  10. The free look period of the policy is 15 days from the date of purchase of the policy. This free look period is extended to 30 days if the policy has been acquired through online or electronic purchase (distance marketing).
  11. The policy allows you to enjoy the applicable tax benefits on the premiums paid and the returns received.
  12. Nomination and assignment are allowed under this policy and the nominations can be made at any time before the policy attains maturity.

How the Plan Works

The HDFC Life Uday plan is a simple policy and works as follows. While purchasing the policy, choose the preferred assured sum with the minimum amount being RS 28,465. Then choose the term of the policy and the term of premium payments. The premium payment term is a minimum of 8 years and a maximum of 10 years. As the policyholder continues paying the required premiums on the dates assigned, he or she would continue to enjoy life cover and when the policy reaches maturity the policyholder will receive a lump sum as a maturity benefit. This maturity benefit includes guaranteed additions of 3% p.a of the sum assured for the first 5 years of the policy. In the unfortunate case that the policyholder dies during the term of the policy and if all premiums are paid then nominee assigned will receive the death benefit.

Benefits

Below are the benefits of HDFC Life Uday:

  1. Maturity Benefit: If the policyholder survives till the date of maturity, then at the time of maturity the policyholder will receive the maturity benefit which is equal to the assured sum and added benefits of the guaranteed additions and bonuses
  2. Guaranteed addition: The policy offers guaranteed additions which are calculated as a percentage of the sum assured. The guaranteed additions are credited to the policy at the rate of 3% p.a of the sum assured only for the first 5 years of the policy.
  3. Bonuses: The policy offers bonuses such as the reversionary bonus. This bonus is calculated as a percentage of the sum assured at the date of maturity and is declared at the end of every financial year. This bonus is credited to the policy and is payable only at date of maturity of the policy or the death of the policyholder. The policy also offers a non guaranteed bonus called the terminal bonus which is paid out on maturity of the policy or death of the policyholder at the discretion of the company.
  4. Death benefit: In the unfortunate event of the policyholder's death the policy provides death benefit that is paid out to the nominee and is equal to either the sum assured on death along with any accrued guaranteed additions plus accrued reversionary bonuses plus any terminal bonus or the death benefit will be equal to 105% of all premiums paid, whichever is higher. This policy also covers accidental death. In case the policyholder dies due to an accident then the nominee will receive the above death benefit along with an additional benefit equivalent of 100% of the sum assured on death.

Premium Discontinuance

If the policyholder decides to discontinue payment of premiums, they can revive the policy within 2 years from the date of the first missed premium payment. This revival request will attract a charge of RS 250 for processing. In the event the policyholder decides to surrender the policy, the policy would acquire a guaranteed surrender value within 2 years if all premiums have been paid and the premium payment term is 10 years. If the premium payment term is 8 years then the guaranteed surrender value will be attained after 3 years of paying all premiums. The Guaranteed surrender value that the policyholder will receive if they surrender the policy is equal to the aggregate of the percentage of premiums paid and the aggregate of any accrued guaranteed additions and accrued bonuses.

 

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

HDFC Life Uday Plan Reviews

Page 1 of 50 1 2 3 4 5
  • HDFC Life Life Insurance
    "Fine policy for emergency purpose"
    0.5 5.0/5 "Blown Away!"
    Along with my personal loan they have provided me a life insurance policy from HDFC LIFE. I have to pay the premium amount of Rs. 6000 in a year. I used to pay the premium through online. Total tenure period of the policy is 4 years. I'm getting a sum assured amount of Rs. 3 lakhs.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Dec 13, 2018
  • HDFC Life Life Insurance
    "Every salary holder must taken this policy"
    0.5 4.0/5 "Great!"
    I have purchased the HDFC accidental policy nearly 4 years before. I have been paying the premium amount of Rs. 80000. I used to make the premium through my credit card and i covert into EMI basis. This is annual payment mode policy. This policy has coverage value of Rs. 15 lakhs and all my member covered in this policy
    Was this review helpful? 0
    , kolkata
    Reviewed on Dec 13, 2018
  • HDFC Life Life Insurance
    "Yet to experience the policy"
    0.5 4.0/5 "Great!"
    I have purchased a ULIP policy from HDFC Life. 4 months before i have taken this policy. I have been paying the premium amount of Rs. 2000 every month. The sum assured amount is 5 lakhs. This is a tax benefitable policy. Through Internet i have purchased this policy. I make the payment in online by using the debit card.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 11, 2018
  • HDFC Life Life Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I am having a life insurance policy with HDFC LIFE from last 9 years and it is a long term policy. I make my premium payment through online and on yearly basis. I am convenient with the payment options and tenure period for this policy is 15 years. I am happy with the returns and benefits on this policy.
    Was this review helpful? 0
    , kolkata
    Reviewed on Dec 11, 2018
  • HDFC Life Life Insurance
    "Good policy to take"
    0.5 5.0/5 "Blown Away!"
    Total tenure period of the policy is 10 years. I have to pay the premium amount for 7 years and 3 years will be lockin period. They have done a very good follow up on documentation and explained the policy details very well. They will call on the premium time. The amount will be auto debited from account. In a year, i have to pay the premium amount of Rs. 50000. 1 year back, i took this policy.
    Was this review helpful? 1
    , amravati
    Reviewed on Dec 11, 2018
  • HDFC Life Life Insurance
    "Good insurance policy"
    0.5 5.0/5 "Blown Away!"
    My life insurance policy was taken with HDFC Life. Total tenure period of the policy is 8 years. I pay the premium amount of Rs. 40000 and i have selected the annual payment mode. I make the premium through cheque mode. Overall, I'm satisfied with this policy.
    Was this review helpful? 0
    , vellore
    Reviewed on Dec 04, 2018
  • HDFC Life Life Insurance
    "Recommendable policy"
    0.5 5.0/5 "Blown Away!"
    I have bought the HDFC LIFE insurance policy 3 years before. I'm making the payment amount of Rs. 28000 every year. I have no idea about the sum assured amount and policy benefits. This is a tenure period 10 years. I make the premium amount through cheque.
    Was this review helpful? 0
    , vellore
    Reviewed on Dec 04, 2018
  • HDFC Life Life Insurance
    "Recommendale policy"
    0.5 5.0/5 "Blown Away!"
    I have paid Rs. 6000 extra for my insurance policy in HDFC LIFE through cheque. I have received the notification regarding the payment and repayment immediately. I'm happy about the payment mode because i can pay according to all kind of mode.
    Was this review helpful? 0
    , vellore
    Reviewed on Dec 04, 2018
  • HDFC Life Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    My money back policy was purchased above 7 years ago. I have chosen the HDFC LIFE because its recommended by the agent. I have chosen the annual payment mode with the amount of Rs. 40000. I make the premium by online ECS mode. This is tax benefit policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 03, 2018
  • HDFC Life Life Insurance
    "Good policy to use"
    0.5 4.0/5 "Great!"
    When i purchase my HDFC credit card, they have offered me a life insurance for an offer. I have received the sum assured amount of Rs. 4 lakhs and my nominee will get that amount after my death. I have chosen the monthly payment mode. This is a 1 year policy and i have to renew it after that. Every month i have to pay the premium of Rs. 300 for first 3 months.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 02, 2018
  • HDFC Life Life Insurance
    "Policy features should be improved"
    0.5 2.0/5 "Expected more"
    The policies are not upto the mark, I took SAP life policy, I make the premium of Rs. 24,000 for the tenure of 10 years, there is no much benefits in the life policy. But it has some assured benefits 5 to 6% of benefits, the payment gateway is very fine.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 01, 2018
  • HDFC Life Life Insurance
    "Best investment"
    0.5 3.5/5 "Pretty good"
    I do have multiple life insurance policy with HDFC Life. One of my relative is working there and more over the maturity term is less like 10 years. Am happy with the policy coverage and the plan benefits. The payment is flexible and its has multiple options. Every year I used to pay 1L as a premium.
    Was this review helpful? 1
    , bangalore
    Reviewed on Nov 30, 2018
  • HDFC Life Life Insurance
    "Good Protection for Family"
    0.5 5.0/5 "Blown Away!"
    I took term plan for the amount of Rs. 25 lakhs, I have done the payment of Rs. 5700. Payment option is good, life cover is very good, I can avail during emergency purpose, even it has the accidental and death policy. I have added wife and Children as nominees.
    Was this review helpful? 0
    , jaipur
    Reviewed on Nov 30, 2018
  • HDFC Life Life Insurance
    "Average Policy"
    0.5 3.0/5 "Satisfactory"
    I have a life insurance policy with HDFC LIFE from last 1 year and it is a long term policy. I pay my premium once in a year through online and i am convenient with the payment options. Tenure period for this policy is 12 years and this policy has good returns.
    Was this review helpful? 0
    , chennai
    Reviewed on Nov 29, 2018
  • HDFC Life Life Insurance
    "Very Good Service"
    0.5 4.0/5 "Great!"
    It has been a very good policy and i had been paying the premium on a monthly basis. The premium amount has bee fine and has not been not too high. The payment method is easy and has been doing online and there has not been any hassle faced so far with their service.
    Was this review helpful? 0
    , new delhi
    Reviewed on Nov 28, 2018
  • HDFC Life Life Insurance
    "Best service"
    0.5 5.0/5 "Blown Away!"
    I have been using life insurance with HDFC ltd , and the premium they use to charge me is up to 20 thousand in a year and it nominal and it use to get auto debited from my salary account and they had explained me all the policy clearly.
    Was this review helpful? 0
    , mumbai
    Reviewed on Nov 21, 2018
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using the HDFC Life Insurance policy for a while. they charge nominal premium for this policy it also offers accidental benefits and I make payment at the branches. so in terms of features and their service it has been a good experience with them. HDFC Life is a recommendable insurance provider.
    Was this review helpful? 0
    , new delhi
    Reviewed on Nov 16, 2018
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been my using my life insurance with HDFC ltd, the policy is covered up to 10 lakh rupees , and they premium which they have charge is nominal and i use to pay through on line only and there agent had explain me about policy and term and condition clearly.
    Was this review helpful? 0
    , noida
    Reviewed on Nov 16, 2018
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my life insurance with HDFC Life, there service is good they have charged premium up to 9000 rupees per year, it use to get auto debited from my account and there customer service is good they explained me about all policy it cover in this life insurance.
    Was this review helpful? 0
    , secunderabad
    Reviewed on Nov 15, 2018
  • HDFC Life Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I had taken this insurance policy a long time back and the process was done online. I had been making the payments on a monthly basis and the premium amount of 1000 has been good. The premium method also has been good and there has not been any hassle faced with them so far.
    Was this review helpful? 0
    , gandhidham
    Reviewed on Nov 14, 2018
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