Hdfc Life Uday Plan vs Lic Micro Bachat Life Insurance Plan 2026 | PolicyX
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Invest today for a worry-free tomorrow with the HDFC Life Uday Savings Plan for a brighter future.

HDFC Life Uday, from HDFC Life Insurance, is a guaranteed savings plan that offers the dual benefit of wealth creation and family protection. Upon your unfortunate death, your family will receive a lump sum death benefit. If you outlive the policy term, you will receive a maturity benefit. You will also get 3% p.a. guaranteed additions during the first five policy years.

The insurer pays a cash bonus to the policyholder at the end of each financial year. If you do not wish to continue your policy, you can surrender it and receive a Guaranteed Surrender Value (GSV). The plan also offers Auto Cover Continuance, where your death benefit continues for the next year even if you miss a premium payment. HDFC offers a discount on a high sum assured of ₹2 lakhs and above.

HDFC Life Uday is a non-participating, non-linked savings life insurance plan.

HDFC Life Uday Plan offers a range of benefits including:

  • 2 Policy Term Options
  • Tax Benefits
  • Additional Death Benefits
  • Cash bonuses
  • Auto Cover Continuance
  • Discounts
PLAN DETAILS

Hdfc Life Uday Plan

Lic Micro Bachat
Premium Including GST
Key Features
(Key features of the plan)
  • Discount on Sum Assured
  • Guaranteed Additions
  • 2 Rider Benefits
  • Affordable Premiums
  • Tax Benefits
  • Flexible Policy Tenure
Plan Maturity age Maximum maturity age: 70 years Maximum Maturity Age - 70 years
Plan Sum Assured Minimum: 8 years Maximum: 10 years Same as policy term
Plan Entry Age Minimum Age: 18 years Maximum Age: 55 years Minimum Age - 18 years Maximum Age - 55 years
Plan Payment modes Minimum: Rs. 28,465 Maximum: No limit Rs 50,000 to Rs 2 lakhs
Plan Policy loan Monthly, Quarterly, Half-Yearly, or Annually Annual, half-yearly, quarterly & monthly
Plan Sample Premium - -
Plan Brochure Brochure URL Brochure URL
Policy Term 12 to 15 years Minimum term - 10 years Maximum term - 15 years
Claim Settlement Ratio (2024-25) Minimum Age - 5 year 98.5%

* The above sample premiums are for a 30-year-old male, nonsmoker with a sum assured of Rs 50 lakhs and a policy tenure of 25 years. You can calculate the premiums for the above life insurance plans using the PolicyX Life Insurance Calculator.

Riders

Benefits of LIC Micro Bachat Plan

There are various benefits to buying the LIC Micro Bachat Plan. Let’s understand each of them in detail:

  • Death Benefit: On death during the first five policy years, benefit is payable in case of death of an insured person before the maturity time. Before the date of commencement of risk: Refund of premium(s) paid without interest will be payable.
  • Maturity Benefits: In the case where the insured survives till the end of the policy period, provided all the due premiums have been paid, Sum Assured on Maturity along with Loyalty Addition, will be payable.
  • Loyalty Additions: The plan is eligible for Loyalty Addition, if any, at the rates and terms declared by the LIC. In case of death of the insured or during the maturity claim in respect to in-force policies, Loyalty Addition will be payable but only after completing 5 years of the policy.
  • Loan Facility: The policyholder can avail loan during the policy term after completing 3 years of the plan so as to meet the liquidity requirements of the policyholder. Also, the loan will be only applicable subject to the terms and conditions as the Corporation may specify from time to time.

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Reviewed By: Naval Goel

Naval Goel has over a decade of expertise in the insurance sector, having worked with companies like AIG, New York. He is an Associate Member of the Indian Institute of Insurance, Pune, and is authorized by IRDAI to act as Principal Officer of PolicyX.com Insurance Web Aggregator.

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