HDFC Pension Plans
  • Explore HDFC Life Insurance
  • Pension Plan features and benefits
  • Buying and Claim Process
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HDFC Pension Plans: Overview

HDFC Life Pension plans are the result of collaboration between Standard Life and HDFC, which provide customers with a financially secure & 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 80C where the yearly deduction is made from the income if it is up to Rs. 1.5 lakhs.

HDFC Pension Plans ensures to look after your investment needs by offering:

why-choose

  • Return of purchase price option

  • Range of annuity options

  • Guaranteed Monthly Income

  • Option to select any age

Eligibility Criteria for HDFC Pension Plan

Your Occupation

Entry age

Minimum Age- 30 year

Mukhyamantri Amrutam Yojana

Maturity age

85 years

Your Gender

Policy tenure

10 to 30 years

Maternity Benefit Rider

Premium payment term

10 to 40 years

Dr YSR Aarogyasri Trust

Premium payment frequency

Annual, half-yearly,

Maternity Benefit Rider

Sum assured

Rs 1 lakh to No limit

Benefits of HDFC Pension Plans

There are multiple benefits of HDFC Pension Plans. Read below to understand the number of advantages provided by these plans.

Range of Annuity Options

The plan offers a range of annuity options as per your requirements.

Return of purchase price option

The plan provides a return of purchase price option on the death of the life assured.

Guaranteed Income

The plan provides a fixed and steady guaranteed monthly income when you are not earning money ideally in your 60s or 70s.

Riders Availability

With additional riders, retirement plans can be customized to help you and your family avail of additional protection against unforeseen events.

Tax Benefits

HDFC Pension Plans allow policyholders to claim Tax Benefits under section 80C of the Income Tax Act, 1961 on the premium paid for purchasing the insurance plan.

Riders You Can Avail With HDFC Retirement Plans

You cannot avail of any additional riders with your HDFC Retirement Plans. 

Name of the Rider Benefits Offered
HDFC Life Income Benefit on Accidental Disability Rider In the case of an Accidental Total Permanent Disability, this benefit is equal to 1% of the Rider sum assured per month for about the next 10 years. This rider does not offer any maturity benefit.
HDFC Life Critical Illness Rider In case, you are diagnosed with any of the 19 critical illnesses, a lump sum benefit equal to the sum assured shall be payable.
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Why Choose PolicyX.com?

Don't just take our word for it - check out what our happy customers say about us!

All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.

Ravindra Singh

I highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.

Priti varshney

I'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.

Nisha Mary

I bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.

Ajay Shah

PolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.

Vijay Rathod

I purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.

Uma Mahajan

Documents Required to Purchase HDFC Pension Plans

Here is the list of documents required to buy HDFC Pension Plans:

  • Regular Smoking
    Photo ID Proof
  • Your Occupation
    Age Proof
  • Pre-Existing Diseases
    Address Proof
  • Your Age
    Medical Records
  • Your Gender
    Income Proof
Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy HDFC Pension Plans ?

HDFC Pension Plans allows you to buy life insurance plans via two platforms. You can either buy the plan online from the official website of the company or through third-party intermediaries like agents, brokers, etc. Given below is a detailed explanation of both these types of buying processes.

Life Insurance
  • Step 1

    Visit the official website of PolicyX.com.

  • Step 2

    Click on the ‘Pension Plan’ tab under 'Life Insurance' from the top of the menu.

  • Step 3

    A new page will appear on the screen.

  • Step 4

    Fill out the form at the top of the page with the necessary details.

  • Step 5

    Select your income and city. Click on 'Proceed'.

  • Step 6

    Update your education and occupation details.

  • Step 7

    Choose your preferred plan and click on 'Buy this plan'.

  • Step 8

    Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.

Life Insurance
  • Step 1

    Visit the official website of HDFC Life Insurance Company.

  • Step 2

    Hover on ‘Investment Plans’ click on the retirement plan and choose the plan you want to buy.

  • Step 3

    Click on the ‘buy now’ button and fill in the required details.

  • Step 4

    Tap on 'next' and select a plan as per your requirements.

  • Step 5

    Select the cover option you want and make your payment. Once the payment is made, you will get a payment confirmation at your registered email address.

Exclusions of HDFC Life Pension Plans

  • If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death benefit. They receive just the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater. If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death payments. They receive just the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater.

Conclusion

In conclusion, HDFC Pension Plans offer you financial safety when you are not earning any income. These plans help you create a lump sum amount to fulfill your future financial goals. You can start investing in these plans when you are earning, ideally in your early 30s. For more info related to HDFC Life Investment Plans, you can contact Policyx.com 24/7. Our trusted insurance experts listen to your every unique problem and suggest the best possible solution for you.

Life Insurance

More Queries?

If you have any more queries regarding HDFC Pension Plans , Renewals, or Claim Procedures, contact our insurance experts at:
1800-4200-269 now!

FAQs: HDFC Pension Plans

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.

6. What is the renewal process for HDFC Pension plans?

You can renew your HDFC Pension plan by following the below-mentioned steps: Login into the e-portal with your customer ID and password. Select the HDFC Pension plan and click "Pay Renewal Premium Now". Choose your payment option and pay your premium. Print the payment receipt of your HDFC Pension plan.

7. How can I check my HDFC retirement plans status?

You can check your HDFC retirement plan status online. Simply log into the e-portal with your customer ID and password to check the policy status of your HDFC retirement plan.

8. What is the process for canceling HDFC pension plans?

To cancel the HDFC Pension plan, you need to submit all the relevant policy documents along with a duly filled surrender form at any of the branches of HDFC Life Insurance. The company will transfer your refund amount into your bank account within 72 hours after deducting cancellation charges, stamp duty (if any), and medical exams charges.

9. What is HDFC Life pension guaranteed plan?

It’s a non-participating deferred pension plan with a guaranteed death benefit at maturity. The plan is suitable for people who want to save for their retirement and receive guaranteed returns post-retirement.

Life Insurance Companies

Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.

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Himanshu Kumar

Written By: Himanshu Kumar

Himanshu is a seasoned content writer specializing in keeping readers engaged with the insurance industry, term and life insurance developments, etc. With an experience of 2 years in insurance and HR tech, Himanshu simplifies the insurance information and it is completely visible in his content pieces. He believes in making the content understandable to any common man.

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