HDFC SL YoungStar Super Premium you can fulfill your child’s immediate and future needs- all on your own. Start saving now with this unit linked insurance plan and be assured that savings for your child will continue, even in your absence. This plan offers you choice of cover options and benefit payment preferences- all designed to suit your needs.
Features –
Regular Annual Premium –
Minimum Premium is Rs-15,000 and there is no limit on maximum premiums. Premiums are to be paid annually only.
Choice of Funds –
You can invest in any of the following fund (s) (a) Short term fund (b) Income fund (c) balanced fund (d) Blue chip fund (e) Opportunities fund.
Term Limits –
You can select term of 10, 15 and 20 years.
Age Limits –
The minimum age at entry for life option is 18 years and maximum entry age is 65 years. Maximum age at maturity is 75 years.
Level of protection –
You can choose any sum assured multiple between 10x annual premium to 40x annual premium.
Advantages
- The Triple Insurance Benefit helps you secure your child’s immediate and future needs. In case of your ill-timed demise or critical illness, we will pay the Sum Assured to your child (Beneficiary). Your family need not pay any further premiums. With Save -n- Gain benefit, we will pay 50% of all the original regular premiums towards your policy and 50% of the premiums will be paid to the Beneficiary as and when due, on an annual basis. Any Death Benefit or Critical Illness cover terminates immediately.
- You can customize the ideal plan for your child by choosing the premium you wish to invest along with the Sum Assured, depending on the level of protection required and Benefit payment preference.
- This plan can be taken by filling Short Medical Questionnaire, which may not require you to go for medicals.
- You can change your investment fund choices in two ways:
- Switching: You can move your accumulated funds from one fund to another anytime
- Premium Redirection: You can pay your future premiums into a different selection of funds, as per your need
- Tax benefits are offered under section 80C and 10(10D) of the Income Tax Act, 1961
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