Best Life Insurance Plans From Top Insurers

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Best Life Insurance Plans From Top Insurers

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Planning for the golden years of life has never been easy for a person, especially when he or she is working for an average income and running a family, paying EMIs, and other expenses. But these expenses are a part of your life and are always going to be there.

So, before you realize that you are not even able to pay for the regular expenses, it is better to opt for a pension or retirement plan so that you can sustain with pride without having to change your lifestyle choices. hdfc life retirement plan

In addition to this, the rising inflation and living costs are the two main reasons to have a good retirement plan that takes care of you and your spouse in those crucial years of life so that you can live life to the fullest keeping your head high.

How Does a Retirement Plan Work?

A retirement plan needs you to make contributions into policy through premiums or installment for initial years, and the insurance company provides policy benefits and sum insured on the plans so that you can either get a regular income out of it or the coverage of the expenses to maintain your lifestyle in a hassle-free manner.

HDFC Life Retirement Plans

When it comes to choosing the perfect retirement insurance plan, you may find hundreds of options from various insurance companies, which may get overwhelming for a person who has never taken a policy before. If yes, then HDFC Retirement Plans can come in rescue with their wide range of options to choose from.

Look at each of the plans offered by HDFC, and choose the best depending on your requirements, age, and financial capability.

HDFC Life Personal Pension Plus

HDFC Life Personal Pension Plus is a participatory traditional pension plan, which allows you to invest in the plan while doing the retirement planning and secure return on the sum invested after retirement.best hdfc pension plan

The plan comes with an investment range of 10-40 years., and plan lets you pick the payment of premiums on a monthly, quarterly, half-yearly, annually basis. This retirement plan gives an assured advantage of 101% of all premiums given on death. You can also pick from a variety of annuity benefits at vesting to get guaranteed pension for life.

Benefits of HDFC Life Personal Pension Plan

  • The policyholder can commute up to 1/3rd of the maturity benefit tax-free.
  • The least level of the death benefit of all times is 105% of the premium paid.
  • Tax benefits are given on the premiums paid, under Section 80CCC of the Income Tax Act 1961.

Eligibility Criteria HDFC Life Personal Pension Plan

  • Entry Age: Minimum 18 years and Maximum 65 Years
  • Maturity Age: Minimum 55 years and Maximum 75 Years
  • Policy Tenure: 1o to 40 years

HDFC Life Guaranteed Pension Plan

HDFC Life Guaranteed Pension Plan is a non-participating partial annuity plan that allows guaranteed benefit on death or at vesting.

The layout has been particularly intended to support the policyholder in creating and securing funds for retirement. One is offered guaranteed bonuses that are continued every year, and the lump sum maturity benefit is payable by the company.

Features & Benefits of HDFC Life Guaranteed Pension Plan

  • Insured Profits of 3% of sum assured get increased for each completed policy year.
  • A lump sum maturity addition obligatory at vesting with a premium payment term of 5, 7 and 10 year and policy tenure ranging from 10 to 20 years.
  • Limited premium paying term with guaranteed benefit on death or at vesting.
  • At policy maturity, buy an annuity from HDFC and have lifetime earnings post-retirement.
  • The guaranteed death benefit of cumulative premiums paid to date expanded at a guaranteed rate of 6% per annum increased yearly.
  • Tax benefit on premiums paid under section 80 CCC of the Income Tax Act, 1961

Eligibility Criteria HDFC Life Guaranteed Pension Plan

  • Entry Age: Minimum 35 years and Maximum 65 Years
  • Maturity Age: Minimum 55 years and Maximum 75 Years
  • Policy Tenure: 1o to 20 years

HDFC Life Click 2 Retire – ULIP

This is an online unit linked plan given by HDFC Life Insurance which offers you business associated profits with minimal charges. This pension plan can help you reach your goals post-retirement if you organize well in advance.  The plan also provides you with multiple payment options, such as Regular, Single Pay and Limited Pay.

Features & Benefits of Click2Retire Ulip Plan

  • It is an online pension plan, which secures your retirement with Guaranteed Vesting Benefits and also gains from the market.
  • Opportunity to start as early as 18 years with a maturity age of 45 years.
  • No premium allocation, extinction, policy control and discontinuation costs.
  • The death compensation is higher of capital cost or 105% of the entire premiums paid.
  • Benefits with achieving early retirement for exploring or pursuing hobbies and interests.

Eligibility Criteria HDFC Click2Retire Ulip Plan

  • Entry Age: Minimum 18 years and Maximum 65 Years
  • Maturity Age: Minimum 45 years and Maximum 75 Years

Premium Payment Terms & Policy Term

  1. Single Pay: 10, 15 to 35 (years)
  2. 8 Pay : 10, 15 to 35 (years)
  3. 10 Pay: 10, 15 to 35 (years)
  4. 15 Pay: 10, 15 to 35 (years)

HDFC Life Pension Super Plus

A unit-linked annuity plan that allows you to save a corpus fund to see you through the retirement times. You can spend premiums dynamically within fixed income avenues and assets.

Features & Benefits of HDFC Pension Super Plus

  • Death benefits to a nominee in case of insured’s death.
  • 102.5% Extra premium allocation charge of 102.5% from 11th year onwards.
  • Guaranteed benefits on maturity with 101% of all premiums paid to date including top-up added.
  • Versatility to shape your retirement and choose a policy term
  • For assured regular income on the annuity.

Eligibility Criteria HDFC Pension Super Plus Plan

  • Entry Age: Minimum 35 years and Maximum 65 Years
  • Maturity Age: Minimum 55 years and Maximum 75 Years
  • Policy Term: 10, 15, 20 years

HDFC Life New Immediate Annuity Plan

HDFC Life New Immediate Annuity Plan is a non-linked regular annuity policy that guarantees economic freedom after retirement. It additionally provides you with the facility of annuity payment-monthly, quarterly, half-yearly or yearly also you may get this as a death benefit amount.

Features & Benefits of HDFC Immediate Annuity Plan

  • The advantage of higher annuity choices to cater to your requirements.
  • Get guaranteed income monthly/quarterly/half-yearly / Yearly.
  • Return of buying price advantage on death.

Eligibility Criteria HDFC Immediate Annuity Plan

  • Entry Age: Minimum 30 years and Maximum 85 Years

Annuity Payout:

  1. Monthly: Rs. Rs.1,000-no limit
  2. Quarterly: Rs. 3,000-no limit
  3. Half-annually: Rs. 5,000-no limit
  4. Annually: Rs. 10,000-no limit.

HDFC Life Overseas Pension Scheme (QROPS)

If you have given your working life in the United Kingdom but want to carry the same to India where you crave to spend your golden years of life with your spouse, then Qualifying Recognized Overseas Pension Scheme (QROPS) is made for you. This is a tax saving retirement plan listed as QROPS with HMRC.

Features & Benefits Overseas Pension Scheme

  • Tax-exempt transfer of your payment collected in the UK to India
  • Post-retirement in India, you can get a regular income and
  • The funds can proceed to grow in India

These are the most popular HDFC Retirement plans to choose from, which you can get as per your requirements and policy terms and guidelines. But before you choose any of the plans do not forget to ask your agent about all the issues related to the documentation and premium need to be paid. Retirement can be easier if you can plan it wisely with a good pension plan.

Also Check:- Best Pension Plans by SBI of India

Naval Goel is the founder of PolicyX.com. He is an Associate Member of the Indian Institute of Insurance`, Pune. He has been authorized by IRDA to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.
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