HDFC Pension Plans

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HDFC Life Pension Plans

HDFC Life Pension plans are the result of collaboration between Standard Life and HDFC, which provide customers a financially secured & comfortable retirement life. This company provides pension plans including deferred pension plans, annuity pension plans, and immediate annuity plans, which can secure the golden period of your life. With the accumulated savings along with small investments, pension plans ensure that you never run off regular income after retirement.

HDFC Life Pension plans also offer tax benefits under Section 80CCC where the yearly deduction is made from the income if it is up to Rs. 1.5 lakhs.

Key Features of HDFC Life Pension Plans

  • The plan offers a range of annuity options as per your requirements
  • Return of purchase price option on the death of the life assured
  • Availability of Surrender value option
  • Offers Guaranteed Monthly Income
  • Option to select any age at which you wish to receive a monthly income

Benefits of HDFC Life Pension Plans

1

Tax Benefits as per prevailing laws

2

Immediate Life Annuity Option

3

Top up Option

Claim Settlement Ratio of HDFC Life Insurance

The claim settlement ratio is the number of claims paid against the number of claims filed. One should always check the claim payment ratio before selecting an insurance company. IRDAI releases claim settlement ratios every year as it helps the potential buyer to determine the resolution patterns of claims by insurers. The claim settlement ratio of HDFC Life Insurance is 99.07%.

HDFC Life Insurance And Other Top Life Insurance Companies Based On Claim Settlement Ratio

HDFC Life Insurance And Other Top Life Insurance Companies Based On Claim Settlement Ratio

Types of HDFC Life Pension Plans

Have a look at a few of the pension plans provided by the company.

PlansWhy should you buy it?
HDFC Life Pension Guaranteed PlanIt is a single premium annuity insurance product that offers a regular guaranteed income for a lifetime.
HDFC Life Guaranteed Pension PlanGuaranteed returns for your retirement
HDFC Life New Immediate Annuity PlanRegular Income in retirement time
HDFC Life Assured Pension Plan - ULIPA Unit-Linked Plan that provides market-linked returns
HDFC Life Personal Pension PlanSecures your retirement fund
HDFC Life Click 2 RetireOnline Unit-Linked Pension Plan that offers you market-linked returns
  1. HDFC Life Pension Guaranteed Plan

    It is a single premium annuity plan that offers a regular guaranteed income for a lifetime. The plan comes out with a wide range of annuity options to cater to your multiple needs. HDFC Life Pension plan also provides annuity payouts through the top-up option.

    Key Features:

    • Annuity Options: The plan offers the option to receive an immediate or deferred annuity. It offers the choice of increasing your Annuity Payouts.
    • Return of Purchase Price: The plan offers the option of Return of Purchase Price on death.
    • Death Benefit: The plan offers Death Benefit that will vary depending on the annuity option selected by the insured.

    Eligibility

    ParametersMinimumMaximum
    Entry AgeImmediate Life Annuity30 years85 years
    Immediate Life Annuity with Return of Purchase Price30 years
    Deferred Life Annuity with Return of Purchase Price45 years
    Annuity Payout (in Rs.) per installmentAnnually12,000No Limit
    Half-yearly6,000
    Quarterly3,000
    Monthly1,000
    Minimum/Maximum Purchase PriceImmediate Life AnnuityRs. 42,076No Limit
    Immediate Life Annuity with Return of Purchase PriceRs. 160,261
    Deferred Life Annuity with Return of Purchase PriceRs. 76,046
    Minimum Group Size5
    Premium Payment TermSingle Pay
  2. HDFC Life Guaranteed Pension Plan

    HDFC Life Guaranteed Pension Plan is a plan by HDFC that helps in securing your post-retirement days. It assists you to build and secure the retirement fund. The plan comes out with guaranteed additions and assured benefits on death or vesting.

    Key Features:

    • Guaranteed Additions: The plan provides Guaranteed Additions of 3% of the sum assured for each completed policy year.
    • Vesting Benefit: It will provide a lump sum Vesting Addition which will be payable at vesting.
    • Death Benefit: The plan will offer assured death benefits of total premiums paid to date accumulated at a guaranteed rate of 6% per annum compounded annually.

    Eligibility

    Policy Term (Years)Premium Payment Term (Years)Entry Age (years)Vesting Age (years)
    MinimumMaximumMinimumMaximum
    10 to 205, 7, and 1035655575
  3. HDFC Life Pension Plan: New Immediate Annuity Plan

    This HDFC Pension Plan is a non-linked traditional annuity plan which helps you to stay financially independent even after retirement. It also offers you the chance to choose the frequency of annuity payment- monthly/quarterly/half-yearly, or annually.

    Key Features:

    • Guaranteed Income: The plan will keep providing guaranteed income as long as you/your partner lives.
    • Annuity Options: The plan offers a wide range of annuity options to deal with the different needs of customers.
    • Return of Purchase Price: The plan offers various options to choose the return of purchase price in the unfortunate case of death or critical illness.

    Eligibility

    ParametersMinimumMaximum
    Entry Age (Last Birthday)20 years85 years
    Annuity payout (Rs.) per frequencyYearly10,000No limit
    Half-yearly5,000
    Quarterly3,000
    Monthly1,000
  4. HDFC Life Assured Pension Plan - ULIP

    It is a Unit-Linked Pension plan that offers you financial security in the post-retirement days. This plan makes it easier for you to live independently after retirement.

    Key Features:

    • Flexible: The plan offers the flexibility to choose your retirement date.
    • Assured Maturity: The plan comes out with the benefit of assured Maturity (Vesting).
    • Pension Multipliers: Beginning from the 11th year, the plan offers Loyalty Additions as Pension Multipliers every alternate year.
    • Tax Benefits: The policyholder can avail of tax benefits under section 80CCC and Section 10(10A) of the Income Tax Act 1961.

    Eligibility

    Entry AgeMinimum18 years
    Maximum65 years
    Vesting AgeMinimum45 years
    Maximum75 years
  5. HDFC Life Personal Pension Plus

    It is a traditional participating pension plan which is suitable for individuals who are planning for their retirement. The plan provides secure and stable returns on your invested corpus during your post-retirement days.

    Key Features:

    • Vesting Age: At vesting age, the plan offers a range of annuity options along with guaranteed income for life.
    • Vesting Benefit: It provides the assured benefit of 101% of the total premium.
    • Death Benefit: The plan offers death benefit at all times which is 105% of the premiums paid.

    Eligibility

    Policy Term (Years)Premium Payment Term (Years)Entry Age (years)Vesting Age (years)
    MinimumMaximumMinimumMaximum
    10 to 40Equal to Policy Term18655575
  6. HDFC Life Click 2 Retire

    It is an online Unit-Linked Pension Plan that offers you market-linked returns and also helps you fulfill your retirement goals.

    Key Features:

    • It is an online pension plan.
    • The plan provides an option to start as early as 18 years and mature at 45 years.
    • Limited pay and Single pay options are also available under the plan.
    • Death benefits to the nominee (which will be higher than the fund value) at the time of death.
    • Plan only charges FMC and charges for investment guarantee.
    • No entry charge
    • No Administration charges
    • No exit charges

    Eligibility

    Entry AgeMinimum - 18 years
    Maximum - 65 years
    Vesting AgeMinimum - 45 years
    Maximum - 75 years

Buying Process Of HDFC Pension Plans

There are two ways through which you can invest in HDFC Pension Plans- via PolicyX.Com and the official website of the company. Let's discuss the steps further.

Buying Process Of PolicyX website
Buying Process Of HDFC Pension Plans

Claim Process of HDFC Pension Plans

Claim Process of HDFC Pension Plans

FAQs

1. Is it allowed to change the nominee in HDFC retirement plans?

Yes, during the policy tenure, it is allowed to change the nominee or the percentage of the nominee. For the same, you have to provide the duly filled and signed Policy Servicing Request Form along with the original policy document at any HDFC Life branch.

2. What is the Vesting age in an HDFC pension plan?

Vesting age is the Maturity date on which the policyholder can take 1/3 of the Maturity value as a cash lump sum.

3. How Can I Make the Payment?

You can pay your retirement plan premiums online via:

  • Netbanking
  • Credit card/Debit card
  • Debit Card with PIN
  • SI on the card

4. What is the free-look period?

In case you don't want to continue the policy, you have got the option of returning the plan, within 15 days from the date of receipt of the policy.

5. Can I surrender my coverage earlier than maturity?

You can surrender before maturity. A policy might charge surrender cost and payout of the give up value could be depending on the particular plan and its features.

Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.5/5 (29 Total Rating)

September 21, 2021

Sukhi Singh

Allahabad

very decent customer support at policyx.com! my benefits and features of click 2 retire was detailed and i have no confusion

September 20, 2021

Kanak Deol

Chandigarh

had a good discussion with one the agents at policyx,com! i mean the person was deeply knowlegeable and it was very helpful! Will recommned going forward!

September 20, 2021

Surbhi Verma

Mysore

I bought the click 2 protect plan to secure myslef...I think policyx did a fab job piking the right plan for me! got a decent bunch of benefits

September 17, 2021

Kanak Goel

Mumbai

This is the second term plan that I m buying from policyx.com. I want to make sure my family has enough after my death so I figured HDFC was a safe bet

September 16, 2021

Kinshuk Chabra

Bhopal

with corona and my brother s death due to it, our entire family was in shock. but I went to personally claim the policy after hs death ...it was policyx which guided me and made sure that process was smooth

Last updated on August, 2021

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