HDFC Child Plans

Free Quotes From Top Companies

1

2

D.O.B (parent)
Income
| Gender

1

2

Phone No.
Name
City

By proceeding you are accepting our privacy & terms

I am ok to bypass suitability analysis and wish to proceed further

About HDFC Child Plans

HDFC Life offers wide range of individual and group life insurance plans that cater to the different needs of customers. Such products include child plans, protection plans, pension plans, health, savings, investment plans, among others. HDFC Life has come out with child plans that can assist you to plan the financial future of your child.

The plan has financial protection features that ensure your child gets all the facilities in the future even in your absence.

Types of HDFC Child Plans

The company offers 4 effective child insurance plans for your perusal.

PlansWhy should you buy it?
HDFC Life SL YoungStar UdaanThe plan is ideal for parents who want to make provision for:
- Academic expenses before college education
- College fees or expenses on marriage
- All other expenses that occur during school or college time.
HDFC Life SL Young Star PremiumThe plan can fulfill your child's immediate and future requirements by offering valuable financial protection.
HDFC Life Cancer CareIt provides lump-sum benefits on the diagnosis of cancer. This protects your savings.
HDFC Life Easy HealthBest health insurance plan for senior citizens, single individuals, and married couples.

Let's discuss the above-mentioned plans in detail.

  1. HDFC Life SL YoungStar Udaan

    HDFC Life YoungStar Udaan is a traditional participating insurance plan. This is an ideal plan for parents who wish to save for their child's academic expenses, specific goals, or any other miscellaneous expenses during school/college.

    Key Features:

    Maturity Benefit Option: The plan comes out with three maturity benefit options to choose from. These are Aspiration (Endowment benefit), Academia (Moneyback benefit), and Career (Moneyback benefit).

    Death Benefit Options: It offers two death benefit options (Classic and Classic waiver) to choose from.

    Guaranteed Additions: The plan provides guaranteed additions in the initial 5 years, if applicable.

    Flexibility: A variety of premium payment and policy tenure options offers flexibility to plan.

    Other Benefits:

    • Insurance coverage is provided throughout the policy tenure by paying a premium for a limited time.
    • The plan also offers Short Medical Questionnaire (SMQ) based underwriting.

    Eligibility

    Entry AgeMinimum - 30 days
    Maximum - 60 years
    Maturity AgeMinimum - 18 years
    Maximum - 75 years
    Minimum Policy Term15 years
    Maximum Policy Term25 years
    Premium Payment Terms7, 10 or Policy Term minus 5 years

    Let's understand this plan with the help of an example.

    Rahul, who is a 35-year old software engineer working with an MNC has a 3-year-old son Shivank. Rahul wants Shivank to become an engineer when he grows up. To achieve his dream and to ensure his child's dreams are fulfilled, Rahul has purchased the HDFC Life Youngstar Udaan - Career maturity benefit along with an option of Classic waiver death benefit with a term of 15 years by paying premiums for 10 years and sum assured maturity of Rs. 5 Lakhs.

    Now, when Shivank turns 13, he will start getting 15% of the sum assured on maturity every year. This will further help Shivank to cover coaching costs so that he can get the best coaching for competitive exams. These payouts continue till Shivank turns 18. Rahul also gets a lump sum payout of 40% of the sum assured on maturity along with other guaranteed additions and bonuses that will help Rahul pay the college fees of Shivank.

    However, anything can happen at any time. Rahul died in an accident at the age of 40 years but HDFC Life Youngstar Udaan ensured that Shivank's dream does not get interrupted because of an unforeseen event. After Rahul's death, future premiums are not required to be paid and the payouts for the education of Shivank continued as per the planning. Additionally, the family has also received a lump sum payout in the death benefits form.

  2. HDFC SL Youngstar Super Premium

    It is a unit-linked insurance plan (ULIP), which is designed to help you save for your child's future even in your absence.

    Key Features:

    • The plan offers yearly payment to your family in case of an unforeseen event.
    • The plan gives an option to invest in a choice of funds.
    • Flexible Benefit Payment Preferences: Save Benefit and Save-n-Gain Benefit
    • Save benefit will pay out the sum assured to the child, waive off further premiums and release fund value upon maturity in case of the untimely demise of the parent or critical illness.
    • Save-n-Gain benefit pays out the sum assured to the child upon the untimely death of the parent. HDFC Life waives off the premiums and pays 50% of the future premiums towards the policy and 50% of the premiums to the child on the premium due date. Upon maturity, the fund value will be credited to the beneficiary.

    Eligibility

    EligibilityLife OptionLife & Health Option
    Minimum Entry Age18 years
    Maximum Entry Age65 years55 years
    Maximum Maturity Age75 years65 years
    Minimum Policy Term10 years
    Maximum Policy Term20 years

    Sample Premium Illustrations

    Illustration 1Illustration 2
    Age (in years)3035
    Policy Term (in years)1515
    Premium Payment (in Rs.)25,000 Annual Premium
    Sum Assured (in Rs.)2,50,000 Sum Assured
    What you might get back?Rate of return at 4 % p a.3,99,8463,94,624
    Rate of return at 8 % p a.5,57,2965,50,723
  3. HDFC Life Cancer Care

    HDFC Life Cancer Care offers lump sum benefits upon diagnosis of the disease. The policyholder can use this benefit to cover expenses related to the treatment.

    Plan Options and their Benefits:

    Silver Option: This offers you a lump sum, which is 25% of the applicable sum insured if diagnosed at an early stage or Carcinoma-in-situ (CIS), and 100% less early-stage cancer or CIS Claims when diagnosed with Major Cancer.

    Gold Option: Apart from the benefits available under the Silver option, this option gives Increased Benefit, where the sum insured increases by 10% of the initial sum insured each year. This starts from the very first policy anniversary and stops either when the increased sum insured becomes 200% of the initial sum assured or at the time of claim, whichever comes first.

    Platinum Option: Along with the benefits offered under the Gold option, the Platinum option offers a monthly income. It is 1% of the applicable sum insured for 5 years, which is paid out on diagnosis of listed Major Cancer. It also offers a premium discount for the sum assured above Rs. 10 Lakhs.

    Eligibility

    ParametersMinimumMaximum
    Entry Age (in years)565
    Maturity Age (in years)1585
    Policy Term (in years)385 - Entry Age
    Premium Payment FrequencyAnnual, Half-yearly, Quarterly, Monthly
    Sum Insured (in Rs)10,00,00050,00,000
  4. HDFC Life Easy Health

    Due to lifestyle changes, it has become even more important to take care of our health. This can impose an extra financial burden on the family and this insurance product can help you repair your financial security no matter how critical your illness is.

    Plan Options and their Benefits:

    • Daily Hospital Cash Benefit will give 1% and 2% of the sum insured as allowance per day in case of Hospitalization on admission in a Non-ICU room and ICU room respectively.
    • Surgical Benefit will give a lump sum payout of up to 100% of the Sum Insured against 138 surgeries. This is applicable based on the severity of the surgery.
    • Critical Illness Benefit will give a 100% of the sum insured paid out upon diagnosis of any of the 18 specified Critical Illnesses.

    Eligibility

    ParametersMinimumMaximum
    Entry Age (in years)1865
    Maturity Age (in years)2370
    Policy Term (in years)5
    Premium Payment ModeOne Time Payment (single premium)
    Annual (Regular Premium)
    Sum Assured (in Rs)25,0005,00,000

Buying Process Of HDFC Child Plans

There are two ways through which you can invest in HDFC Child Plans- via PolicyX.com and the official website of the company. Let's discuss the steps further.

Buying Process Of PolicyX website
Buying Process Of HDFC Child Plans

FAQs

1. How can I file a claim under the HDFC Child plan?

For a smooth and hassle-free claim experience, follow the below steps:

  • Visit the official website of HDFC Life Insurance Company.
  • Take your cursor to the tab 'Customer Service'.
  • Click on 'Policy Servicing'.
  • Click on the tab 'Make a claim' present at the menu bar.
  • Slightly scroll down to initiate the claim.
  • Click on the tab' Click here' under 'How to make a claim category'.
  • Click on the tab 'Request a Claim'.
  • Fill in the details and click on the tab 'Submit'.
  • Submit the required documents.

After receiving all the documents, the company will verify the details as per their norms. On successful completion, the claim will be settled and the amount will be transferred to the nominee/claimant's bank account and the same will be communicated to him/her over call or email.

2. What are the documents required for processing the claim?

Submit the necessary documents requested by the company to process the claim.

In the case of natural death:

  • Claim form
  • Death certificate
  • Original Policy Documents
  • Claimant's Identity & Residence Proof
  • Medical records at the time of death & past illnesses
  • Account details of the nominee/claimant

In the case of un-natural Death (Accidental death/Murder/Suicide):

  • Claim form
  • Death certificate
  • Original Policy Documents
  • Claimant's Identity & Residence Proof
  • FIR, Police Inquest Report & Panchanama
  • Post Mortem Report
  • Account details of the nominee/claimant

3. How can I check the status of my HDFC Child's Plan?

If you are a registered user, you can easily check the policy status online. For the same, you have to simply log in to the e-portal with the customer ID and password. You can also check the status via the SMS facility (SMS Life to 56161) only if you are a registered user.

4. What is the policy renewal process of HDFC Child Plans?

You can renew your HDFC Child Plan online. Below are the steps that you have to follow.

  • Log in with your Customer ID and Password on the official website of the company.
  • Select the HDFC Child Plan that is due for renewal payment.
  • Click on 'Renewal Premium Now'.
  • Choose the desired option and make the payment.
  • Print the payment receipt.

You can also renew your HDFC child plan from PolicyX.com. Contact our customer service for more details.

5. What is the policy cancellation process for HDFC Life Child Plans?

The insured should submit all the policy documents, along with a duly signed surrender form at any branch of the company (within the city). Within 72 hours, the company will make a refund to the registered bank account after deducting all cancellation charges, stamp duty, and medical test charges (if any).

6. What should I do if I want to change my premium payment term?

Usually, it is not allowed as the selected mode cannot be changed. In exceptional cases, if the plan allows you to change the premium payment term, the insurance company will request you to provide a written request before it can act on your request.

Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.5/5 (29 Total Rating)

September 21, 2021

Sukhi Singh

Allahabad

very decent customer support at policyx.com! my benefits and features of click 2 retire was detailed and i have no confusion

September 20, 2021

Kanak Deol

Chandigarh

had a good discussion with one the agents at policyx,com! i mean the person was deeply knowlegeable and it was very helpful! Will recommned going forward!

September 20, 2021

Surbhi Verma

Mysore

I bought the click 2 protect plan to secure myslef...I think policyx did a fab job piking the right plan for me! got a decent bunch of benefits

September 17, 2021

Kanak Goel

Mumbai

This is the second term plan that I m buying from policyx.com. I want to make sure my family has enough after my death so I figured HDFC was a safe bet

September 16, 2021

Kinshuk Chabra

Bhopal

with corona and my brother s death due to it, our entire family was in shock. but I went to personally claim the policy after hs death ...it was policyx which guided me and made sure that process was smooth

Last updated on August, 2021

Get Instant Quotes