Bankbazaar

HDFC Life Uday

Overview

An insurance policy not only provides 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 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 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

 4.0 / 5.0   by 1313 users
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Plan Benefits

Payment Options

Policy Coverage

Customer Service

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HDFC Life Uday Plan Reviews

Page 1 of 50 1 2 3 4 5
  • HDFC Life Life Insurance
    "Better Policy"
    0.5 5.0/5 "Blown Away!"
    From my HDFC LIFE, i have taken my life insurance. The executive came to my place and informed me about the policy details and gave me some offer since it was good, i have selected them. I have been paying the premium amount of Rs. 2500 per month. The policy term is 15 years. I am not sure about the sum assured amount.
    Was this review helpful? 0
    , bangalore
    Reviewed on Oct 10, 2019
  • HDFC Life
    HDFC Life Life Insurance
    "People more aware of their offerings &its better than others"
    0.5 4.0/5 "Great!"
    Basically I did not have any idea about the policy and it was just referred by a friend so have opted the policy, just for an investment perspective. I have received the insurance paper. Their executive explained me about the benefits. I pay 50K to 55K through online and tenure is 12 years.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Sep 18, 2019
  • HDFC Life Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    HDFC LIFE is offering a good benefits and the charges are nominal when compared with other insurer so I took a term plan with them. They have explained me about benefits of the policy. They need some improvement on the customer service. I have paid 24K for a year.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Sep 03, 2019
  • HDFC Life Life Insurance
    "Average Policy"
    0.5 4.0/5 "Great!"
    Bought my money back policy from HDFC LIFE. Taken the policy in the year of 2016. Earlier i had a salary account with HDFC hence the manager is forcefully to take this policy. I am paying the premium amount of Rs. 25000 annually. I need to pay the premium for 5 years after 5 years there is a lockin period. I get the sum assured amount of Rs. 2.50 lakhs.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 27, 2019
  • HDFC Life Life Insurance
    "Quickest way to insure"
    0.5 5.0/5 "Blown Away!"
    Its very to take a policy through online from HDFC. The claim ratio is very nice hence i have chosen the HDFC LIFE. I'm satisfied with the coverage value of Rs. 50 lakhs. I have chosen the annual payments mode. They do have a partial disability cover is included.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 25, 2019
  • HDFC Life Life Insurance
    "Coverage for the premium is good"
    0.5 4.0/5 "Great!"
    Chosen my term insurance from HDFC LIFE. HDFC has better claim ratio thats the reason i opted the policy. I make the premium through online every time. I pay the premium amount of Rs. 6600. They have included with disability cover and accidental cover. The premium is less since i purchase the policy through online.
    Was this review helpful? 1
    , bangalore
    Reviewed on Aug 16, 2019
  • HDFC Life Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I took a term insurance with HDFC LIFE, I have compared with online site and found they are having good payment rates. The customer service is good. I am satisfied with the benefits. I am doing monthly premium of Rs.2000 and need to pay till 15 years. The payment mode is online.
    Was this review helpful? 1
    , bangalore
    Reviewed on Aug 06, 2019
  • HDFC Life Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I have a term insurance with HDFC LIFE because the benefits are too beneficial. I am paying 9,400 rupees for a year through net banking. The policy covers till the age of 85. The nominee would be getting a benefit of 75L. They have provide insurance documents on time.
    Was this review helpful? 0
    , mumbai
    Reviewed on Aug 06, 2019
  • HDFC Life Life Insurance
    "Satisfied"
    0.5 4.0/5 "Great!"
    Recently I have purchased a super savings policy from HDFC LIFE. I need to pay the premium for 8 years and after that I will get a profit for every year. They will be providing 10K on monthly basis. I have taken a policy premium of 75K per year. The payment mode is cheque.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 02, 2019
  • HDFC Life Life Insurance
    "If you want save tax, purchase this policy"
    0.5 5.0/5 "Blown Away!"
    Bought my life insurance policy from HDFC LIFE. For the tax benefit purpose, i purchase this policy. I am not sure about the plan name. They will double the money in returns at the time maturity and its a long term plan. I pay the premium amount of Rs. 24000 annually.
    Was this review helpful? 0
    , new delhi
    Reviewed on Aug 01, 2019
  • HDFC Life Life Insurance
    "Excellent Plan"
    0.5 5.0/5 "Blown Away!"
    Bought my life insurance from HDFC LIFE. Every year i need to invest the money of Rs. 50000 for first five years. Next 5 years will be a lockin period. After 10 years, i get the money of Rs. 18000 every year for 5 years and at the time of maturity i get a sum assured amount of Rs. 10 lakhs. I bought this policy for daughter's future.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 31, 2019
  • HDFC Life Life Insurance
    "Satisfactory"
    0.5 5.0/5 "Blown Away!"
    Actually I was looking for a investment plan with HDFC BANK and they have provided me a life insurance. I never asked them for a policy but still they provided me an opportunity then I researched and found the benefits are also good. I need to pay the premium of 30K half yearly through online.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jul 31, 2019
  • HDFC Life Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I have chosen the life insurance policy from HDFC LIFE and the plan is Super Income. For the future salary purpose, i have selected the policy. In this policy, i need to pay the premium for first 10 years and the next years will be lockin period and after i can get a lumpsum amount or else i can convert into monthly payment. I pay the premium amount of Rs. 25000 per annum. They are providing the sum assured amount of Rs. 1.87 lakhs.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 30, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have taken the CHILDREN PLAN with the HDFC LIFE where the maturity period of the policy is for 15 years with the policy. The coverage is for self with the policy is for self added on that the benefit of the policy is in case of any incident happened will be getting the amount and after the maturity there is a sum assured.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 29, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I am using the life insurance policy with HDFC LIFE and the maturity period of the policy is for 7 years but the premium have to pay for 5 years. The documents submitted through the offline. The sum assure value of the policy is for 5L. I got the hard copy too.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jul 27, 2019
  • HDFC Life Life Insurance
    "Need to provide correct details "
    0.5 3.0/5 "Satisfactory"
    I have taken a life insurance in HDFC LIFE on 2 years before. The policy is for 10 years and other 10 years for maturity. I am paying premium in the yearly package. While getting a policy my agent has not given an information about the policy details at an initial they stated offers later that offers are not listed in the benefits. I use to do payment through an online.
    Was this review helpful? 0
    , pune
    Reviewed on Jul 26, 2019
  • HDFC Life Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    Yearly once I'm paying the premium for my life insurance. My cousin is working in HDFC hence i have taken the policy. I'm satisfied with the sum assured amount. I make the premium through online. I have a HDFC corporate account hence its easy to pay.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 26, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    TERM PLAN using from last few years, the documents submitted through the online as well as the offline process. The premium paying for 6 months, coverage is for self. There is no coverage apart from this. The customer support is good and responsive.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 22, 2019
  • HDFC Life Life Insurance
    "Need to decrease charges"
    0.5 3.0/5 "Satisfactory"
    I have taken a life insurance in HDFC LIFE on 10 days before only. The policy for 12 years.I am paying premium in the monthly package. While getting a policy my agent has given an information about the policy details. They detect amount from my credit card for the payment.Charges are high. EMI is only 945 told at an initial then later it was for 1276 EMI charges per month.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 21, 2019
  • HDFC Life Life Insurance
    "Good for family protection"
    0.5 5.0/5 "Blown Away!"
    I have term plan with HDFC life, I have chosen the sum assured of Rs. 75 lakhs it has the duration of 50 years, life cover is upto 75 years. I make the premium around Rs. 800 per month, it has tax cover, critical illness, waiver on premium at disability. Cancer and Heart attack cover is also there.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 19, 2019
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