HDFC SL Youngstar Super Premium
Entry Age:
Depending on choice of options:
Classic:- Option 1- Aspiration- 30 days to 60 years
- Option 2- Academia- 8 years to 60 years
- Option 3- Career- 8 years to 60 years
- All Options- 18 years to 55 years
Maturity Age:
Depending on choice of options:
Classic:- Option 1- Aspiration- 18years to 75 years
- Option 2- Academia- 23 years to 75 years
- Option 3- Career- 23 years to 75 years
- All Options- 33 years to 55 years
Minimum Sum Assured:
NA
Min. Premium:
Rs. 2,000 monthly/ Rs. 6,000 quarterly/ Rs. 12,000 half yearly/ Rs. 24,000 annual
Minimum Maturity Benefits:
Depending on choice of option:
Endowment Option:- Lumpsum payment of 100% of sum assured and Guaranteed Additions equal to 25% of sum assured.
- 30%, 15%, 15%, 15%, and 15% of Sum Assured in 5th , 4th, 3rd, 2nd, and 1st year before maturity respectively.
- 15% of sum assured and Guaranteed Additions equal to 25% of sum assured at maturity.
- 15%, 15%, 15%, 15%, and 15% of Sum Assured in 5th , 4th, 3rd, 2nd, and 1st year before maturity respectively.
- 40% of sum assured and Guaranteed Additions equal to 25% of sum assured at maturity.
Minimum Death Benefits:
Depending on choice of option:
Classic Death Benefit- Higher of- Sum Assured or
- 105% of Premiums paid
- Sum Assured on Maturity or
- 105% of Premiums paid
- Sum Assured on Maturity, or
- 10 times or 7 times of annualized premium depending on the entry age.
Critical Illness Benefit:
NA
Partial Withdrawal/Loans:
80% of policy’s surrender value
Policy Term:
15-25 years
Payment Options:
7 years/10 years/ Term minus 5 years
Premium Frequency:
Quarterly/Half Yearly/Annual
80CCC Tax Benefits:
Yes
10 (10D) Tax Benefits:
Yes
Fund Allocation:
NA
Entry Age:
Depending on choice of options:
Life Option- 18-65 years
Life and Health Option- 18-55 years
Maturity Age:
Depending on choice of options:
Life Option- 75 years
Life and Health Option- 65 years
Minimum Sum Assured:
Depending on policy holder’s age
Less than 45 years, then minimum of 10 times and maximum of 40 times of Annualized premium.
Eequal to or more than 45 years, then minimum of 7 times and maximum of 40 times of Annualized premium.
Min. Premium:
Rs. 15,000 annual
Minimum Maturity Benefits:
Risk cover ceases upon policy maturity. Balance units in the fund are redeemed at prevailing price. Policy holder has option of redeeming fund value in installments over a period of five years. In this case, risk cover ceases upon maturity and units will be redeemed in installments at prevailing price.
Minimum Death Benefits:
Minimum death benefit shall be 105% of premiums paid. Benefit is paid on basis of choice of Benefit Payment preference.
Save Benefit:Sum assured is paid to beneficiary in event of a claim.
No further premium payments need to be made.
Company pays 100% of all future premiums.
Risk cover ceases.
Fund value paid to beneficiary upon maturity.
Save-n-Gain Benefit:
Sum assured is paid to beneficiary in event of a claim
No further premium payments need to be made.
Company pays 50% of all future premiums
Balance 50% premium paid to beneficiary every year as and when it falls due
Risk cover ceases
Fund value paid to beneficiary upon maturity
Critical Illness Benefit:
If policy holder is diagnosed with a critical illness before end of term of the policy, benefit is paid on basis of choice of Benefit Payment preference-Save Benefit or Save-n-Gain Benefit.Death cover ceases upon claim. Fund value shall be redeemed upon maturity.
Partial Withdrawal/Loans:
Allowed after five years subject to these conditions:
Minimum of Rs. 10,000.
Fund value cannot fall below 150% of original regular premium after withdrawal.
Total withdrawals cannot exceed 300% of original regular premium.
Policy Term:
10-20 years
Payment Options:
Regular
Premium Frequency:
Annual
80CCC Tax Benefits:
Yes
10 (10D) Tax Benefits:
Yes
Fund Allocation:
Option of investing in a combination of funds with risk rating ranging from Moderate to Very High.
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