HDFC Child Plans
HDFC Life is one of the leading life insurance companies in India. The company offers a wide range of individual and group life insurance plans that cater to different needs of customers. Such products include child plans, protection plans, pension plans, health, savings, investment plans, among others. Talking about child plans, HDFC Life has come out with a bunch of useful plans that can assist you to plan the financial future of your child.
Types of HDFC Child Plans
The company offers 3 effective child insurance plans for your perusal. Let's discuss them in detail.
1. HDFC Life Click 2 Wealth
HDFC Life Click 2 Wealth is a unit-linked non-participating life insurance plan that provides market-linked returns to the insured, along with helpful financial protection to the entire family. The plan effectively safeguards your wealth so that you can fulfil all your desired goals.
Key features
Plan options: It comes out with three plan options. Policyholders can choose the desired one as per their convenience.
Premium waiver benefit: The plan provides a premium waiver benefit that waives off the premium (in case of your unfortunate demise) so that your family can live without the financial burden.
Return of Mortality charges: The plan offers a return of mortality charges at the time of maturity. In the case of the premium waiver option, mortality charges related to the insured would be refunded.
Partial withdrawal: Under this plan, the insured has the option to make partial withdrawals after 5 policy years. For the same, the insured should be at least 18 years of age.
Eligibility
Entry age | Proposer: 18 to 65 years Life assured: 0 to 60 years |
Premium payment term | Limited: 5, 7 and 10 years Regular: 10 to 40 years |
Maturity | 18 to 99 years |
Policy term | 10 to 40 years or 99 minus entry age |
Table Data updated on 05-11-2020
The values may change as per the chosen plan option
2. HDFC Life 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. They 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.
Eligibility
Entry age | 0 to 60 years |
Maturity age | 18 years to 75 years |
Policy term | 15 years to 25 years |
Premium payment term | 7, 10 or Policy Term minus 5 years |
Table Data updated on 05-11-2020
3. HDFC Life Click2Invest - ULIP
HDFC Life Click2Invest is an online ULIP plan that provides market-linked returns and valuable financial protection to meet your investment requirements.
Key features
Fund options: The plan offers 11 fund options to choose from as per your convenience and investment style.
Death benefits: In the case of the life assured's unfortunate demise, the plan pays the highest of sum assured, fund value, or 105% of the premium(s) paid.
Maturity benefits: On survival till the end of the policy tenure, the insured gets fund value as maturity benefit.
Tax benefits: The plan offers tax benefits under Section 80C and Sec 10(10D) of Income Tax Act, 1961.
Eligibility
Entry age | 0 to 65 years |
Maturity age | 18 years to 75 years |
Sum assured | 125% of single premium |
Premium Paying Term | Regular, limited and single |
Table Data updated on 05-11-2020
How to apply for 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 through PolicyX.com
- Scroll up to 'Free Quotes From Top Companies' given at the top-right corner of this page.
- Submit basic details such as DOB, annual income, gender, etc.
- Tap on 'Continue'.
- Provide your phone number, name, and city. Tap on 'Proceed'.
- Check the available quotes from the top insurance companies in India.
- Choose the desired HDFC Child plan and tap on ''Invest' at the right corner of the chosen plan.
- Click on the tab 'Proceed to Buy'.
- Enter your 'Email id' and click on the tab 'Submit'.
- It will take you to the company's official website.
- Make the payment using available payment options.
- You will receive a confirmation along with the policy documents on your registered email address.
Buying through HDFC Life's official website
- Visit the official website of HDFC Life Insurance Company.
- Take your cursor to the tab 'Plans'.
- Click on the tab 'Children's Plans'.
- Scroll down to the plan section.
- Select the plan that you want to buy and click on the tab 'Buy Online' under the chosen plan.
- Fill the required details.
- Confirm the details and click on the tab ' Calculate'.
- Analyze the plan details.
- Confirm the details and click on the tab 'Buy Now'.
- Choose the desired option 'Fill the form first and then pay'.
- Now you need to complete the application form, which requires you to answer some questions about your personal and professional life and your health details.
- Review your form once and make the payment.
- The company will share the policy documents on your registered email address.
How to file a claim under the HDFC child plan?
- 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 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 in the nominee/claimant's bank account and the same will be communicated to him/her over call or email.
Documents Required
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
