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This is very very disconcerting, because this product is not at all meant for a person of that profile, including my mother.
Also, if you consider that this is being sold to retired people, their alternative is to buy a simple fixed deposit for 10 years. I just wanted to illustrate these options – while you might think these are not directly comparable for one reason or the other, the point remains that to most people that are investing, these are usable options.
Also, these comparisons are tax neutral since equity gains and insurance returns are tax free, and all options above get the 80(C) deductions as well. While this is not really being sold as an insurance plan, insurance is touted as one of the benefits. In the images above I demonstrate how, by taking a mutual fund plus term plan, you would actually have a much higher sum assured.
For people above the age of 60 with kids well settled, there is hardly a need for insurance (especially if their spouse is no longer alive).
For b), I throw you the assertion that for the most part, 80(C) tends to be covered by something else. Just my child’s education costs and the PPF that I invest in add up to the 100K per year deduction.
Lastly, let’s come to how the funds have actually performed in the last two years or so. I understand that the HDFC folks are not going to be happy about this – not the bank, and not the insurance company. I generally read through all analysis that you put in but I must apologize that I did not have the patience to read this fully.
Investing and Personal Insurance can never go together as they serve totally different purposes. HDFC branch arm-twisted us and were offering us a locker only if we invested in this product. I understand it is a value addition for the bank for earning commissions through ULIP rather than simple FD.
I ask myself this question whether the designer of the such ULIP product would invest themselves in to such a product or their CEO Mr.
Lot of people ask me whether I would complain if ULIP returns would have been more than +10%. Designed exclusively for Retail Institutional clients - Trusts, Associations, Societies, Clubs. A variety of fixed deposit accounts for various durations, offering exclusive benefits at very attractive interest rates. To help you make the right decision on your investments, we offer financial investment services. Providing you a range of services combining dedicated banking expertise and latest technology to save your time and money. In the unfortunate event of death of the life assured during the policy term, the nominee will receive the death benefit as below. For Single Premium pay policy : Death benefit is higher of 125% of Single premium (OR) Sum Assured.
If the policyholder chooses this option then the Death Benefit as specified above shall be payable in the form of a lump sum and an additional benefit equal to the Sum Assured shall be payable in case of accidental death. The proposer can choose the Life stage Protection option under Life option upon payment of an additional premium.
This feature will be available only for a six month period from the date of the event and provided the insured person is less than 45 years of age at the time of opting for this feature.This feature is available only for regular premium paying policies and not for limited premium paying or single premium policies. There is also an option to ‘Reduce the Additional Sum Assured” which the policyholder had opted under life stage protection. Even though the premium amounts under Income Option are low, the company keeps 90% of the death benefit with itself.
It is more advantageous if this 90% amount is invested in a Bank Deposit than to keep it with the company.
As with the case of many online term insurance plans, in this plan also Critical Illness (or) Total Permanent Disability riders are not available.  Only Accident Death benefit rider is available. I would like to buy HDFC CLICK2PROTECT PLUS Term Plan, but i could not find any information related to it applicability if (God forbid) something happens to the policy holder while residing out of India. Kindly help me out and also let me know any Indian term plans which covers the policy holder outside India as well. In majority of the cases the main reason for claim rejection is, if someone provides wrong & inaccurate information. 1.Suggest me is it better to take 1 crore policy from one company or can i split like 50 lacks from two companies?
But taking multiple policies with a different time-frame (tenure) may be from the same company can be beneficial. As we are seeing the cheating or fraud companies day by day, I am little bit worry about to take the plan, as they may cheat at the time claiming. As long as one discloses the required & right information in the proposal form accurately and honestly and if an insurance company issues a policy then there is nothing to worry about the claim settlement.
Is it good to go with LIC e Term (25 Lakh) + TATA AIA (25 Lakh) insurance cover or need to go with single insurance provider. Did HDFC Life agents come to you with a new child plan the HDFC Life YoungStar Udaan? They must be promising the secure future of  your son or  daughter.
This illustration has been produced by HDFC Standard Life Insurance Company Limited to help you understand the benefits of your HDFC Life YoungStar Udaan. The above mentioned surrender benefits allow for the Survival payments made during the policy term.
Upon the payment of death or surrender benefit, the policy terminates and no further benefit becomes payable.

Opaque, there is no mention of interest rate, investment avenue, allocation of amount and commission. To prepare a child plan you have to put your money in investment scheme as well as in the insurance plan. HDFC Life YoungStar Udaan policy gives you annual payment for the last 5 years and increasing term insurance.
To get the insurance cover of 11 lakhs you have to spend only Rs 1,694 annual premium for 15 years.
Let’s see how the HDFC Life gives money  back from  your investment and what is the rate of return. If you invest this amount in various tenure FD, then you can get the moneyback similar to HDFC Life YoungStar Udaan.
In My Child Plan you have to deposit annual instalment in PPF instead of HDFC child policy.
In case you would unable to pay the annual premium you can still continue with your term insurance as its premium is very low. If you want to receive money after 15 years and till 20 years, then you can immediately start investing in PPF. This amount can give you 1,50,000 per year for 5 years and 7,67,300 rupees in the sixth year. Can you pl give me a side by side analysis of HDFC Young Star Udaan Plan and your My Child Plan?? Latest in the list is someone who is above 60, and who has had some post retirement income that needed to be safely placed. I have a detailed video (published in 2011!) of why this product is unsuitable for anyone looking for an investment avenue for their money. Note that I don’t include tax benefits in this case, and I will elaborate later about them. The maximum lock in for mutual funds is 3 years after each investment (ELSS) with no restrictions on money redeemed afterwards. In fact, to two people I know who are beyond the age of 60, suggesting HDFC Crest is ridiculous as they can lock in nearly 10% on a Fixed Deposit for 10 years, plus they have no use for the insurance piece. The concepts are of Constant Proportion Portfolio Insurance (CPPI) and Dynamic Hedging, but what happens in India is mostly a shift of money between debt and equity. Managers will move money into debt as the equity portion rises, in order for them to be able to make the guarantee. Plus, there is needless confusion by weasel-clauses like pay for five years, get money after ten years, but guarantee applies only on seven years etc. We post macroeconomics, stock investigations, finance data visualizations, market metrics and analytics. 80(C) is a cumulative tax deduction, so you can spend or invest in various heads and the total deduction per year is Rs. Even if people had none of the others, better than insurance would be to invest in a PPF account (Rs. We’ve seen amendments that make tax saving methods vanish, and it might well be the case that later, tax structures change and make these investments irrelevant. For a mutual fund investor, the NAV is the real return over time, since the number of units bought changes only at repurchases or withdrawals.
Deepak is part of the core team that helps build, grow and keep our data platform up to date. It is the industry’s response to get around selling mutual fund like products without mutual fund like regulations. The result will be sub optimal except under extreme circumstances which by their nature occur so rarely to benefit the holder. HDFC bank opened near my home couple of years ago and I wanted a locker due to proximity. Choose from a variety of loans with attractive interest rates and flexible pay back options. In addition to this, the equal monthly payment of Rs 50,000 pm is also paid for next 10 years. With age as your income is on a rise and as your children become independent, you may realize that you don’t need additional Insurance cover anymore. If someone is looking for a comprehensive Term insurance with all these riders then it is better to buy offline products.
He is an Independent Certified Financial Planner (CFP), engaged in blogging, financial counseling & property consultancy for the last 6 years through his firm ReLakhs Financial Services . You may have to check with the concerned life insurance company directly before buying a term plan. Kindly go through the link provided in my previous comment (it is about the top online term plans). I am planing for HDFC Click 2 protect plus,I want to know about under what circumstance the claim is rejected.I have mentioned all my details regarding diabetic in the proposal form.
These pages are greatly useful for anyone who wants to maintain a financially sound life or wanting to put their financial life back in track. This must be read in conjunction with the sales literature, which describes the features of this product. If your policy offers guaranteed return, then these will be clearly marked “guaranteed” in the illustration table on this page.
Suppose HDFC Life young Star Udaan policy gives you the bonus at the rate of 8% as stated in illustration. You can get 7,02,705 rupees after the 10 year by mere investing only 44,914 rupees annually in PPF.
After lock in period of 15 years distribute the amount proportionately and put your money in FD of 1,2,3,4, and 5 years.

In this case if you already have PPF account which is 5 years old then you have to only increase your yearly investment. The taxes one saves are elusive, and one might be able to get tax advantages in alternative investments (ELSS mutual funds or long term fixed deposits). Also, liquidity is a problem, since you can’t exit a fixed deposit without a penalty. However, HDFC Taxsaver, which is run by HDFC Mutual Fund (a fund house I respect very much) charges just 1.85% according to Value Research Online.
Investing even in bond funds or mutual funds can give you a tax value of zero; because of indexation benefits. Agree that it is short term assessment to take a call but given the upfront charges deduction, I wonder whether it would ever turn to +ve terriotory. When you visit any branch with all of the employees pitching for insurance, you would wonder whether you came to bank or insurance branch.
I never thought that beyond their friendly smiles lies the other face of devicing strategies to loot the customer wealth. The premiums will be recalculated based on your increased sum assured and outstanding policy term.No additional Medical tests are required.
This plans offers the flexibility to reduce the additional insurance cover after attaining the age of 45 years. I am leaning towards single payment plan which I can afford now though it would cost me close to INR 3,75,000. The Young star Udaan policy would take care the future need of education, marriage and even a  new venture of your son or daughter.
If your policy offers variable returns; then  the illustrations on this page will show two different rates of assumed investment returns.
Future bonus rates are not guaranteed and would depend on the experience of the with-profits fund. You can get similar amount for similar duration and frequency if you have 7,02,705 rupees after 10 years. Else you can use another safe tax saving investments such as tax saving FD, NSC or other post office deposits. By investing in PPF or tax saving FD you can earn Rs 11,69,031 at the rate of 8% after 10 years. I almost signed forms for HDFC Younstar Super Premium but I am yet to give it a final approval. This column is substantially greater than the corresponding numbers in the HDFC Crest cases. But with the MF plus term plan option, they would get more than 14,00,000 (1.4 million or 14 lakhs). The seven years is important: you get your guaranteed money only after ten years, but the highest NAV is only for the first seven. That also means if the stock market rises over time, you are likely to miss most of the bus, as the manager try to lock in the existing NAV returns for the rest of the time. HDFC Crest is no different and it takes a while, even for an experienced hand, to understand the fact that there are far better alternatives. The parent shareholder of HDFC Bank and HDFC Insurance are the same, but the bank is the one you want to deposit your money with, not the insurance company. However, it is surprising that their bluechip fund hasn’t given you positive returns – it is their best performing fund! Today,  I will tell you a way which will give you better return than HDFC Life young star plan or any other similar plan. These assumed rates of return are not guaranteed and they are not upper or lower limits of what you might get back as the value of your policy is dependent on a number of factors including future investment performance. If you take term insurance separately, you have the flexibility to adjust according to your other needs.
But this return would come  down drastically as some part of your investment also goes to agent and company. Job with CNBC Awaaz also helped me to explore the world of Investment, Saving, Insurance, and Tax. Your premium will be recalculated based on revised sum assured for the remainder of the premium paying term. With a 40 years term policy, INR 20,000 for 40 years turns out huge (of course, if I survive through).
But before examining My Child Plan, please go through the features of HDFC Young Star Udaan Plan. It means that by putting this amount in bank fixed deposit you can get back similar amount as in the case of HDFC life Udaan policy of 5 lakh sum assured.
If you take an account of service tax the guaranteed amount would be less than premium paid unless you complete the 20 years term. When no tricks work and they were cornered, comes the heavy pleading making you feel lot guilty. Also, if you liked this article, don’t forget to share with your Facebook, Google plus friends and Twitter followers.
Coincidentally I was looking for tax saving FD and under extreme pleading, I had to buckle for SL Crest. Before giving your approval for this Policy, Please read my review of HDFC Life YoungStar Udaan policy. I took a 25 year LIC single premium term insurance policy 9 years back, and I very much love the luxury of not having to worry about making the payments every year.

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04.03.2014 admin

Comments to «Online payment hdfc life insurance premium»

  1. LEDY_BEKO writes:
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