HDFC Young Star Super II

Recommendations :No

Name of the policy :
HDFC Young Star Super II

A brief desciption :

HDFC Young Star Super II is a ULIP plan catering to your child's future needs. There are 2 options in this plan viz. Life option and Health option, under life option in case of death of the Life Insured i.e. the parent, the nominee, i.e. the child would get the higher of Sum Assured or Fund Value, and Fund Value at maturity, under health option, in case the Life Insured is diagnosed with any of the mentioned Critical Illnesses, the beneficiary would get the higher of Sum Assured or Fund Value, whichever is higher and Fund Value is paid at maturity. However returns are restricted due to high charges levied. Moreover Sum assured is miniscule which is not sufficient to cover an earning member of the family having dependents. So it is advisable to to go for a simple term plan and invest the extra money elsewhere and earn higher returns.

Started date :
30/8/2010

Type of policy :
Insurance cum Investment

Category :
ULIP

Insurance :
Min- 10 times Annual Premium Max- 40 times Annual Premium

Returns expected :
8%-10% (The performance would be less than a performing equity diversified mutual fund)

Entry age :
18-65 Years

Surrender :
If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and your fund value shall be paid immediately and the policy would be terminated.

Minimum amount :
Min- 15,000 Max- No limit

Unique features :
It is a ULIP catering to your child's future needs providing two options viz. Life Option and Health Option. It also provides a choice of 5 investment funds and also provides guaranteed loyalty returns.


Premium Allocation Charge Year 1 :0%
Premium Allocation Charge Year 2 :0%
Premium Allocation Charge Year 3 :0%
Premium Allocation Charge Year 4 :0%
Premium Allocation Charge Year 5 :0%
Premium Allocation Charge Year 6 :0%
Premium Allocation Charge Year 7 :0%
Premium Allocation Charge Year 8 :0%
Fund Management Charge :The daily unit price of the investment fund is adjusted to reflect the fund management charge of 1.25% p.a.
Surrender/ Premium Discontinuance Charge Year 1 :For AP less than 25,000- Lower of 20% of AP, 20% of FV, Rs. 3,000, For AP 25,000 and more- Lower of 6% of AP, 6% of FV, Rs. 6,000
Surrender/ Premium Discontinuance Charge Year 2 :For AP less than 25,000- Lower of 15% of AP, 15% of FV, Rs. 2,000, For AP 25,000 and more- Lower of 4% of AP, 4% of FV, Rs. 5,000
Surrender/ Premium Discontinuance Charge Year 3 :For AP less than 25,000- Lower of 10% of AP, 10% of FV, Rs. 1,500, For AP 25,000 and more- Lower of 3% of AP, 3% of FV, Rs. 4,000
Surrender/ Premium Discontinuance Charge Year 4 :For AP less than 25,000- Lower of 5% of AP, 5% of FV, Rs. 1,000, For AP 25,000 and more- Lower of 2% of AP, 2% of FV, Rs. 2,000
Surrender/ Premium Discontinuance Charge Year 5 and above :Nil

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