Check the list of HDFC Life Pension Plans. HDFC Life Insurance offers new Pension Plans so that life assured can live tension and stress-free life. So check various HDFC Life Insurance Personal Pension Plan like Retire-ULIP Plan, Pension Super Plus, etc. HDFC Retirement Plans provides financial security so that the policyholder can still live with pride without compromising in their life. The policyholder has a wide range of options to choose the plan. In this article, we are providing the Key Features, Benefits and Eligibility of different HDFC Life Pension Plans.
HDFC Life Pension Plans
You should start thinking about your future when you are young & earning individual. Many of the policyholders will think of a secured life even after their retirement but may don’t have any plans. Therefore, to get a safe & secure Retirement Life, the life assured must think of getting benefits, features & eligibility of HDFC Pension Plans. Choose the best HDFC Retirement plan & Calculate Premium. Check buy & claim process of HDFC Life Pension Plans. A Pension Plan will help you to save money for Retirement. It ensures the life assured to get a minimum income in the form of Pension even after they retire. The HDFC Life Pension Plan provides the insured to maintain the same lifestyle without depending on others.
Why did we need HDFC Pension Plans?
Nowadays Retirement planning is a financial responsibility that every individual owes to their self & their family. The people who ignore it may face problems at their Retirement. With increasing the cost of basic needs, the life assured today’s savings might not reach the cost of necessities throughout the retired life. So go ahead and present a financially independent life to you or your loved ones by choosing the HDFC Life Pension Plans.
Reasons for the need of HDFC Retirement Plan:
- Increasing in the life expectation.
- The shortage in employer-funded pension.
- Change of the social structures.
- The need of social security system.
- Rest & Relaxation.
- A wish to remain the benefactress.
HDFC Life Insurance Pension Plan Details
HDFC Life Insurance Pension Plan offers the best plans with a wide range of benefits to the policyholder and their family. Among these HDFC Retirement plans, there are some common Key Features and Benefits are mentioned below. HDFC Life Pension plans are customised policies that include the benefits needed at your retirement age. The HDFC Life offers Seven Retirement Insurance for Couples, Groups and Individuals. The HDFC Life Retirement plans have attractive Key Features & Benefits. Let us see the review of the plans and products.
HDFC Life Pension Plans
- The HDFC Life Personal Pension Plus.
- HDFC Life Click 2 Retire – ULIP.
- HDFC Life Pension Super Plus.
- The HDFC Life Single Premium Pension Super Plan.
- HDFC Life Assured Pension Plan-ULIP.
- HDFC Life Guaranteed Pension Plan.
- The HDFC Life New Immediate Annuity Plan.
HDFC Life Pension Plan Benefits
- Death Benefit: If the life assured expires within the policy period, then the company will pay 101% of sum assured of the total premium. Or 105% of the premium paid to their nominee or family member chosen by the policyholder.
- Tax Benefit: The life assured can get tax benefit on HDFC Life Pension policy for premiums paid under section 80CCC and Sec 10(10D) of Income Tax Act 1961.
- Vesting Benefit: Your policy vests at the end of the policy term, and your Vesting Benefit will be the higher of basic sum assured on vesting and accrued bonuses. Or 101% of the premium paid till date.
HDFC Life Personal Pension Plus Plan Key Features
HDFC Life Personal Pension Plus Plan is a non-linked pension plan with UIN No: 101N091V02. It is the traditional participating pension plan for the insured who plan for their retirement. Obtain secure & stable returns on their investment for post-retirement income. HDFC Life Personal Pension Plus Plan offers the flexibility to choose the premium frequency. This plan also offers excellent features like:
- Flexibility to choose your investment horizon from 10 – 40 years.
- You can participate in the profits of the participating fund of the company by way of reversionary bonuses & any terminal bonuses.
- Life insured benefit is equal to 101% of all the regular premium paid to date on death or at vesting.
Eligibility Conditions for Personal Pension Plus
| Eligibility | Conditions |
| Entry Age |
|
| Age at Maturity |
|
| Policy Term |
|
For more details, click on the Broucher
HDFC Life Click 2 Retire – ULIP Plan Key Features
HDFC Life Click 2 Retire Plan is a unit linked Online Pension Plan with UIN No: 101L108V02. The HDFC Life Click 2 Retire plan offers you the best market linked returns, with minimal charges. This Plan helps the life assured to achieve their retirement goals by planning well in advance. Death Benefits and Vesting Benefits are offered by HDFC.
- HDFC Click 2 retire plan is an online pension plan with no entry charges, no policy administration charges & no exit charges.
- The policyholder can secure their retirement with assured vesting benefit.
- You can buy this HDFC Retirement Plan from the age of 18 years.
- Lower maturity/ vesting age of 45 years.
- Limited and Single pay option is available in one product.
- A death benefit to the nominee is higher of the Fund Value.
Eligibility Conditions for Click 2 Retire – ULIP Plan
| Eligibility | Conditions |
| Age at Entry |
|
| Vesting age |
|
| Policy Term |
|
| Premium Payment Term | Single, 8, 10,15 |
| Premium |
|
| Premium Payment mode | Yearly, Half-yearly, Quarterly, Monthly, Single pay. |
For more details, check on the broucher
HDFC Life Pension Super Plus Plan Key Features
The HDFC Life Pension Super Plus Plan is a unit linked plan with life insurance coverage with UIN No: 101L085V03. So that you can enjoy the post-retirement life. HDFC Life Pension Super Plus offers the flexibility to plan your retirement date & choose policy term. The HDFC pension plan offers Vesting Benefits and Death Benefits.
- Flexibility to plan the retirement date.
- The benefit of Assured Maturity (Vesting) value.
- Opportunity to build a corpus for post-retirement income.
- Additional assessment of premium from 11 years onwards.
- Life insured benefit of 101% of all premiums paid till date.
Eligibility Conditions for Pension Super Plus Plan
| Eligibility | Conditions |
| Entry Age |
|
| Age at Maturity |
|
| Policy Term | 10, 15, 20 years |
For more details, please check on the broucher.
HDFC Life Single Premium Pension Super Plan Key Features
HDFC Life Single Premium Pension Super Plan is a unit linked plan with a life insurance coverage with UIN No: 101L086V03. The HDFC Life Insurance Single Premium policy creates a corpus over the policy term to generate post-retirement income for the life. HDFC Single Premium Pension Super Plan offers flexibility to choose the single premium amount.
- Assured maturity benefit of 101% of the single premium and all top-up premiums on the pension plan.
- Flexible to choose single premium amount with the option to invest further through top-up premiums.
- There is a flexibility to plan your retirement date.
- There is a guaranteed regular income on the annuity purchased from the HDFC Life.
Eligibility Conditions for Single Premium Pension Super Plan
| Eligibility | Conditions |
| Age at Entry |
|
| Age at Maturity |
|
| Policy Term | 10 years |
For more details, check on the Broucher
HDFC Life Assured Pension Plan – ULIP Key Features
HDFC Life Assured Pension Plan is a non-participatory linked pension plan with UIN No: 101L109V02. The HDFC Life offers market linked returns with Loyalty additions. This plan helps you achieve your retirement goals by planning well in advance.
- The life assured can secure their retirement with assured Vesting Benefit.
- There are loyalty additions in the form of Pension Multipliers in every alternate year, starting in the 11th year.
- The age of Lower vesting/maturity is 45 years.
- Limited Pay & Single Pay options are available in one product.
- The nominee who will be higher of the fund value as Death benefits of your policy at the time of death.
- Tax Benefits under Section 80C & Sec 10(10D) of Income Tax Act 1961.
Eligibility Conditions for Assured Pension Plan
| Eligibility | Conditions |
| Age at Entry |
|
| Vesting Age |
|
| Policy Term |
|
| Premium Payment Term | single, 8, 10, 15 |
| Premium |
|
| Premium Payment Mode | Yearly, Half-yearly, Quarterly, Monthly, Single Pay. |
For more details, check on the Broucher
HDFC Life Guaranteed Pension Plan Key Features
HDFC Life Pension Plans is a non-participating and non-linked plan with UIN No: 101N092V02. The HDFC Guaranteed Pension Plan can be taken only on the single life basis. Life Guaranteed Pension Plan is the best pension plan designed to help assured to build & secure their retirement fund to enjoy the post-retirement income.
- There is a guaranteed addition of 3% of sum assured at the end of every policy year.
- A lump sum vesting addition is payable at vesting.
- The premium payment term is of 5, 7 and ten years.
- The policy term ranging from 10 to 20 years.
- This guaranteed pension plan in India can be taken only on a single life basis.
Eligibility Conditions for Guaranteed Pension Plan
| Eligibility | Conditions |
| Age at Entry |
|
| Age at Maturity |
|
For more details, check on the Broucher
HDFC Life New Immediate Annuity Plan Key Features
HDFC Life New Immediate Annuity Plan is a non-linked traditional annuity plan with UIN No: 101N084V03. It offers you a broad range of annuity options & provides an opportunity to live life even after your retirement. The HDFC Life New Immediate Annuity Plan offers guaranteed income for as long as you & your partner lives.
- Flexibility to choose the frequency of annuity from monthly or quarterly or half-yearly or annual options.
- A wide range of annuity options to serve your diverse needs.
- There will be a guaranteed income for as long as you and your partner live.
Eligibility Conditions for New Immediate Annuity Plan
| Eligibility | Conditions |
| Age at Entry |
|
| Yearly Annuity Payout |
|
| Half-yearly Annuity Payout |
|
| Quarterly Annuity Payout |
|
| Monthly Annuity Payout |
|
For more details, check on the Broucher
HDFC Life Pension Plans Buying Process
The policyholder can buy the HDFC Life Pension Plans from the nearest HDFC Office or, from the Agent of HDFC Life Insurance Company. The customer can also download the Proposal Form from the HDFC Life Insurance official website also. The documents required for buying HDFC Life Pension Plans are listed below.
- Application form / Proposal form along with the photo.
- Address Proof.
- Age Proof.
- Medical Reports (if required).
HDFC Life Retirement Plans Claim Process
The Policyholder / Nominee can apply for the claim in the case of Death or Disability Occurred due to the Sudden Accident of the customer within the Policy Term or if your Policy Maturity Period completed. The insured can get the claim form from the HDFC Regional Offices or, from the official website of HDFC Life Company. The documents required in HDFC Life Pension Plan Claim Process are
- Original Policy Bond.
- Death Certificate Original or Attested copy.
- Date of Birth proof.
- Address Proof of Nominee.
- A copy of Pass Book.
- A copy of Hospital Records.
- Additional documents, in the case of death, occurred due to unnatural or accidental death.
HDFC Life Pension Plans Premium Calculator
The policyholder can calculate the minimum premium that has to be paid to take the policy by using the HDFC Life Pension Plans Premium Calculator. The amount of premium paid will depend on the sum assured, policy term, premium payment modes and age of the life assured. The customer needs to enter some basic information like Name, Mail Id, Mobile Number, Age, Policy Term, & minimum sum assured to calculate the Premium Value.
Additional Information about HDFC Life Pension Plans
Free Look Period:
If the policyholder is not satisfied with the policy terms and conditions, you may return the policy within the Free Look Period mentioned by the company.
Grace Period:
If the life assured have not paid the premium within time, the company will provide a grace period to make the policyholder pay the premium within that time.
Revival Period:
If the customer has not paid the due premiums within the grace period, the policy lapses. Then the customer can revive your policy within the duration mentioned by the company from the date of first unpaid premium.
Surrender Value:
The policyholder can surrender the policy at any time during the policy term if the policyholder has paid the premiums for the period mentioned by the company.