HDFC Life Strengthens Insurance Portfolio for Child Category

Mumbai, Maharashtra, India- Business Wire India 
HDFC Life, India's leading long term private life insurance solutions provider
and a pioneer in offering children's insurance plans announced the launch of
HDFC LIFE YOUNGSTAR UDAAN, a participating children's plan with money back
options which allows parents to utilize key formative years of their child to
plan for their secure future.  The plan is ideal for parents who wish to secure
their child's future keeping in mind critical milestones like education,
marriage, setting up of business etc. 
Speaking on the launch, Sanjay Tiwari, Vice President, Product Development, HDFC
Life said, “ We have been front-runners in not just educating parents but also
in offering  insurance solutions to them for planning financial future of their
children. In our constant endeavour to offer customized and flexible insurance
plans, we realized the need to add a money-back plan in the category of child
insurance. Hence, the launch of Youngstar Udaan completes our suite of products
required for all life stage needs of children. The plan focuses on the
aspiration, academic and career aspects of the child's growth with option to
waive future premiums to ensure that various life-stage needs are fulfilled even
when the insured parent is not around. By offering pro-active financial planning
for children, we aim at helping parents make their children financially
This plan gives the flexibility to choose the payout options to match with the
child's key milestones. It boosts the pay-outs with Guaranteed Additions (GA)*
accruing in the first 5 years of the policy, payable at maturity. The plan also
provides insurance coverage for the policy term even if the premium payments are
for a limited period thus protecting a child's dreams. 
Based on the maturity benefit options and death benefit options you can assess
your eligibility in buying this plan. The age limits for this plan are as
Eligibility CriteriaDeath Benefit OptionsMaturity Benefit OptionsMinimumMaximum
Age at EntryClassicOption 1 - Aspiration0 years (30 days)60 years
Option 2 - Academia8 years
Option 3 - Career
Classic WaiverAll Options18 years55 years
Age at MaturityClassicOption 1 - Aspiration18 years75 years
Option 2 - Academia23 years
Option 3 - Career
Classic WaiverAll Options33 years75 years
This plan offers you flexibility to choose from the varied combinations of
policy terms and premium payment terms. 
Minimum Policy TermMaximum Policy Term Premium Payment Terms
15 Years25 Years7 years
10 years
Policy Term minus 5 Years
You can choose from the 3 maturity benefit options at inception based on
financial goals for your child. These options are of 2 types namely 
Endowment Option (Option 1) – option where a lump-sum is paid at maturity.
This option is termed as ASPIRATION
Money-back Options (2nd and 3rd Option) – options based on the pay-outs
offered in the last 5 years before maturity. These options are termed as
You can also choose from 2 death benefit options 
Classic Death Benefit Option – This option provides the basic death benefit ,
accrued guaranteed additions and bonuses if any
Classic Waiver Death benefit Option - This option provides the basic death
benefit and all future outstanding premiums under the policy will be waived. 
About HDFC Life 
Established in 2000, HDFC Life is India's leading long-term life insurance
solutions provider offering a range of individual and group insurance solutions
that meet various customer needs such as Protection, Pension, Savings,
Investment, and Health. The company also offers Women's Plans to meet specific
needs of women. Customers have the added advantage of customizing plans, by
adding optional benefits called riders, at a nominal price. The company
currently has 22 retail and 8 group products in its portfolio, along with 9
HDFC Life continues to have the widest reach with about 500 branches in India
touching customers in over 900 cities and towns. The company has also
established a liaison office in Dubai. The company has a strong presence in its
existing markets with a strong base of Financial Consultants. HDFC Life is a
joint venture between Housing Development Finance Corporation Limited (HDFC),
India's leading housing finance institution and Standard Life plc, the leading
provider of financial services in the United Kingdom. 
For more information, please visit our website, You may also
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Media Contact Details
Supriya Saxena Negi, HDFC Life, +91 (22) 67516324, 
Contributed via: Bloomberg Publisher WEB Service 
Provider ID: 7e367f20c66543b09e4ca7da1c56153c 
-0- Apr/29/2014 11:20 GMT
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