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HDFC Life Uday

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

 4.0 / 5.0   by 1236 users
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Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

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HDFC Life Uday Plan Reviews

Page 1 of 50 1 2 3 4 5
  • HDFC Life Life Insurance
    "Satisfactory policy"
    0.5 4.0/5 "Great!"
    I have taken the life insurance of 30L which has addon benefits of critical illness and accidental. I have chosen HDFC LIFE after doing online comparison because the premium is less and the tenure is 15 years but I need to pay only for 10 years and remaining 5 years will be paid by the insurer. The policy was started 3 months back with the monthly premium of 1600 rupees. The customer service is good.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 22, 2019
  • HDFC Life Life Insurance
    "Double benefit plan"
    0.5 5.0/5 "Blown Away!"
    I have ULIP it has the locking period of five years, I used to make the premium around Rs. 1 lakh, it get matured after 23 years. I have been with them around three years , they do have tax saving, financial security feature. I have activated ecs for making the payment.
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Apr 20, 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 selected Rs. 1 crore. Yearly I pay Rs.29,000 to the insurer it has the duration of 25 years. They will be providing the lump sum amount to the nominees and second thing they give Rs.50,000 on monthly basis. They disclosed all the terms and condition to me.
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Apr 20, 2019
  • HDFC Life Life Insurance
    "Good Insurance company"
    0.5 5.0/5 "Blown Away!"
    I took term plan from HDFC Life, by paying the premium Rs. 16,000 on yearly basis it has sum assured of Rs . 50 lakhs. The lump sum amount paid to the nominee in certain demise, I make the payment through ecs. There is a critical illness cover along with waiver option.
    Was this review helpful? 0
    , kadapa
    Reviewed on Apr 20, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I am having the life insurance policy with the HDFC LIFE and holding it around from last 10 years. The documentation process was simple and good. The maturity period of this policy is for long term and the coverage is for family. The premium paying for yearly once.
    Was this review helpful? 0
    , indore
    Reviewed on Apr 19, 2019
  • HDFC Life Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I had taken the Term Insurance Policy from them a long time back and the premium had been paying on an annual basis. The premium amount has not been high and the payment method is also high. The policy coverage and the plan benefits with the policy is also pretty good.
    Was this review helpful? 0
    , new delhi
    Reviewed on Apr 17, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I am using from last 8 months the life insurance policy with the HDFC LIFE and the premium i pay for monthly once through the credit card. The policy coverage is for family and self. The maturity is for 3 years with this insurance policy. The customer service is good.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 17, 2019
  • HDFC Life Life Insurance
    "Good for family protection"
    0.5 5.0/5 "Blown Away!"
    I took personal accidental policy from HDFC Life based on the credit card, last time I paid the premium around Rs. 7000 for 25 lakhs of sum assured its a pure term plan. They give the critical illness if some thing happens to me, they give weekly Rs. 5000 for the treatment. For any certain demise my nominee will be getting the lump sum amount. They took premium from the credit card and converted into emi.
    Was this review helpful? 0
    , chennai
    Reviewed on Apr 17, 2019
  • HDFC Life Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    I am having the life insurance policy with the HDFC LIFE the premium for this policy paying for monthly once added on that there are no issues with this insurance policy. The maturity period of this policy is for long term, the documentation process was smooth.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 15, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have purchased the ACCIDENTAL POLICY with the HDFC LIFE where i have been using it since from last 2 years and above. The premium paying was approximately 8k, they provide the coverage upto 20L with this policy. If admitted in hospital can claim for accidents.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 12, 2019
  • HDFC Life Life Insurance
    "All types of risk covered "
    0.5 5.0/5 "Blown Away!"
    This HDFC plan covers all types of risk protection in the future . On annual basis , I need to pay an amount of Rs 3000 /- for next 10 years . So that , I will get an amount of Rs 5 lakh in return . It isa two in one policy .Where I can use it for tax exemption also .
    Was this review helpful? 0
    , secunderabad
    Reviewed on Apr 08, 2019
  • HDFC Life Life Insurance
    "Good Risk protection cover"
    0.5 5.0/5 "Blown Away!"
    Once upon a time in 2012 , HDFC offered me a Impressive offer in life protection policy . I can pay one time payment of Rs 1 lakh 25 thousand for a sum assured of 1 crore . It is completely going to secure my life during risk events like Road accidental death , fire accident .
    Was this review helpful? 0
    , secunderabad
    Reviewed on Apr 04, 2019
  • HDFC Life Life Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    I have taken super plus saving plan from HDFC LIFE and need to pay premium yearly 52K for 8 years, The benefits are good and one person has referred this policy to me. The customer service is not upto the mark and they need to improve on. After maturity will be getting good amount.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 03, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have been using the life insurance policy with the HDFC LIFE since from last few months and i got this insurance because i have taken the loan. It has the short term policy of 20 years and the policy coverage is for self with this insurance policy.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 01, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    HDFC LIFE is the life insurance provider where i have taken the EULIP policy and the maturity period is this policy is for 20 years and i am using it since from last one year. Premium i am 12K yearly once and the policy coverage is for self with this policy.
    Was this review helpful? 0
    , pune
    Reviewed on Apr 01, 2019
  • HDFC Life Life Insurance
    "Safe and secured investment"
    0.5 4.0/5 "Great!"
    I have different plans with HDFC life called guaranteer plan it has good life coverage and tax benefits. The premium is very reasonable, but it doesn't have the critical illness benefits, the people are friendly I used to get the reminder about the premium.
    Was this review helpful? 0
    , kolkata
    Reviewed on Mar 30, 2019
  • HDFC Life Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    My colleague works in HDFC Life so he guided me to take the policy even I work for Apollo Munich Health insurance. I did not research about the benefits, Its a short term and long term policy. Am paying premium was around 50K per annum through online. They send a executive if I have any query.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Mar 28, 2019
  • HDFC Life Life Insurance
    "Not satisfied"
    0.5 2.0/5 "Expected more"
    I had been applied life insurance with HDFC life recently for my wife,but i did not found comfortable in getting this process,like they use to ask all unnecessary documents which i did not found relevant,and the premium amount they was charging me on monthly basis,now i withdraw all my amount and closed this account.
    Was this review helpful? 0
    , malappuram
    Reviewed on Mar 27, 2019
  • HDFC Life Life Insurance
    "Good for nominees"
    0.5 5.0/5 "Blown Away!"
    I have term plan for Rs. 50 lakhs from HDFC Ergo, I am paying the premium around Rs. 7000 per annum. I need to pay upto 60 years, total life cover upto 80 years. Then nominees will get lump sum amount for certain demise. The customer support is great, I used to pay through online.
    Was this review helpful? 0
    , kolkata
    Reviewed on Mar 25, 2019
  • HDFC Life Life Insurance
    "Good risk & protections coverage "
    0.5 5.0/5 "Blown Away!"
    For my HDFC personal loan , they insisted me to do a life cover by taking Term policy for my life security . HDFC given me a Sum Assured of 16 lakh for 4 years . It is one time payment of around 4 k . It is going to cover all types of risk benefits for the policy holder .
    Was this review helpful? 1
    , bangalore
    Reviewed on Mar 18, 2019
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