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HDFC Life Uday

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HDFC Life Uday Review

HDFC Life Uday is a guaranteed-returns insurance policy which offers guaranteed additions and bonus. This is a non-linked insurance policy. 

Key Features of HDFC Life Uday

  • Multiple term options - Pay premiums for 8 years or 10 years only
  • Guaranteed Additions of 3% p.a. during the first five policy years
  • Bonuses declared at the end of each financial year.
  • Additional death benefit in case of death due to accident.
  • Simple issuance process


Benefits under HDFC Life Uday

Maturity Benefit
On survival till the maturity date the policyholder will receive the aggregate of
  1. Sum Assured on maturity
  2. Accrued Guaranteed Additions
  3. Accrued Reversionary bonus, Interim bonus and Terminal bonus, if any.
HDFC Life Uday Maturity Benefit

Death Benefit
On death of the life assured during the policy term, provided all due premiums are paid, we would pay the higher of the following:
- Sum Assured on Death + Accrued Guaranteed Additions + Accrued Reversionary Bonuses (if any) + Interim Bonus (if any) + Terminal Bonus (if any)
- 105% of Premiums paid

The Sum Assured on Death shall be the higher of:
- Sum Assured on Maturity
- An absolute amount assured to be paid on death, which in this case, is equal to the Sum Assured on Maturity

Guaranteed Additions
The plan provides you with Guaranteed Additions, provided the policy is in force. The Guaranteed Additions will accrue at the rate of 3% of 'Sum Assured on maturity' during the first 5 years of the policy. The Guaranteed Additions are payable at maturity or death, whichever is earlier. In case of surrender, the surrender value of Guaranteed Additions will be payable.

A simple Reversionary Bonus as a percentage of the 'Sum Assured on Maturity' would be declared at the end of each financial year. Once added to the policy, the bonus is guaranteed to be payable either on death or on maturity, whichever is earlier provided all due premiums are paid. The Reversionary Bonus is a discretionary benefit and would be declared keeping in mind a long term view of expected future experience.

A Terminal Bonus may be added to your policy at maturity/death which enables the company to pay a fair share of the surplus at the end, based on the actual experience over the policy term and allowing for the reversionary bonuses already attached. As the Terminal bonus depends on the actual future experience it is not a guaranteed benefit.

Tax Benefit
Tax Benefit available for premiums paid as per Section 80C and benefit amount received as per Section 10(10D) of Income Tax Act, 1961

Eligibility and other Conditions of HDFC Life Uday

Parameters Minimum Maximum
Entry Age 18 years 55 years
Policy Term 12 years 15 years
Premium Payment Term 8 years 8 or 10 years
Maturity Age 30 years 70 years
Maturity Sum Assured Rs. 28,465 No Limit
Premium Payment modes Yearly, Half-yearly, Quarterly or Monthly

The policyholder can acquire loan under the policy provided the policy has acquired a surrender value 


The policy will acquire a Guaranteed Surrender Value (GSV) provided 2 full years' premium has been paid for premium payment term of less than 10 years and 3 full years' premium have been paid for premium payment term of 10 years and above.

The GSV shall be the aggregate of:
- percentage of total premiums paid
- percentage of accrued bonuses & accrued guaranteed additions

Please note that the surrender value shall be higher of the GSV and the Special Surrender Value (SSV). On payment of the Surrender Benefit, the policy will terminate and no more benefits will be payable.

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