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

HDFC Life Pension plans are the result of collaboration between Standard Life and HDFC, which provide customers with 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.

Key Features of HDFC Life Insurance

We at PolicyX.com have listed some of the key features of the HDFC Life Insurance company such as its claim settlement ratio, solvency ratio, etc for your clearer understanding.Take a look below to get an insight into the company's performance and choose your HDFC Life Insurance plans:

  • Solvency Ratio
    The solvency ratio of the company helps an individual ascertain the company's ability to meet its long-term financial obligations. As per the IRDAI, it is mandatory for every life insurer to maintain a solvency ratio of 1.5.The Solvency Ratio of HDFC Life Insurance company for 2020-21 is 1.99.
  • Claim Settlement Ratio
    As per the IRDAI report of 2020-21, the claim settlement ratio of HDFC Life Insurance is 98.01%, which indicates that the company has a good and reliable claim settlement process.Take a look at the below graph to understand the claim settlement performance of HDFC Life in the past few years:
  • Annual Premium
    HDFC Life Insurance company caters to every individualís life insurance needs with the availability of a wide range of life insurance products. As per the IRDAI report 2020-21, HDFC Life Insurance Recorded an annual premium of Rs. 38,583.49 Crores.
  • Operating Network
    HDFC Life Insurance Company has 300+ branches across India and additional distribution touch-points through several new tie-ups and partnerships. Apart from its PAN India presence, it has more than 300 partnerships, comprising traditional partners such as SFBs, MFIs, and NBFCs. Moreover, it also has a strong base of financial consultants.
bharti axa life Insurance Key Features

Benefits of HDFC Life Pension Plans

Below-mentioned are some of the benefits that one may avail by purchasing HDFC Life Pension Plans. Take a look at them:

  • 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.
  • The plan offers a death benefit where the nominee receives an amount within the policy duration.

HDFC Pension Plans

To secure your retirement the company, HDFC Life offers multiple pension plans at affordable prices. Have a look at the pension plans provided by the company.

HDFC Life Assured Pension Plan

A Unit-Linked Pension plan that lets you build a corpus during the policy term that makes it easier for you to live independently after retirement.

Unique Features

  • Flexibility to choose retirement date.
  • Assured Maturity
  • Pension Multiplier available

HDFC Life Guaranteed Pension Plan

A plan that assists you to build and secure the retirement fund. Also, it offers guaranteed additions and assured benefits on death or vesting.

Unique Features

  • 3% Guaranteed Additions
  • Death Benefits=Total Premiums
  • Multiple Premium Paying Terms

HDFC Life New Immediate Annuity Plan

A Pension plan that offers you the chance to choose the frequency of annuity payment- monthly/quarterly/half-yearly, or annually.

Unique Features

  • Return of Purchase Price
  • Higher annuity rates
  • Joint Life Annuity

HDFC Life Click 2 Retire

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

Unique Features

  • Assured Vesting Benefit
  • No entry & exit charges
  • Customization available

HDFC Life Pension Guaranteed Plan

A single premium annuity insurance product that offers a regular guaranteed income for a lifetime.

Unique Features

  • Return of Purchase Price
  • Death Benefit available
  • Choice to increase Annuity Payouts

HDFC Life Personal Pension Plus

A traditional pension plan for those planning for their retirement. The plan provides secure and stable returns on your invested corpus during your post-retirement days.

Unique Features

  • Assured benefit on death or vesting
  • Additional bonuses available
  • Investment tenure of 10 to 40 years

HDFC Life Saral Pension

A Single Premium Immediate Annuity Plan that provides regular income for the whole life. Also, the plan offers Surrender value on the diagnosis of critical illness.

Unique Features

  • Guaranteed income source for life
  • Return of Purchase Price
  • Single & Joint Life Annuity options

HDFC Life Products

Pension Plans Companies

Secure your post-retirement plans with the below-mentioned IRDAI approved Pension Plan companies.

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.

Through PolicyX.com

  • Scroll up to 'Free Quotes From Top Companies' given at the top-right corner of this page.
  • Submit basic details such as DOB, annual income, gender, etc, and tap on 'Continue'.
  • Provide your phone number, name, and city. Tap on 'Proceed'.
  • Choose the desired plan and tap on ''Invest' at the right corner of the chosen plan.
  • Click on the tab 'Proceed to Buy'. It will redirect you to the company's official website.
  • Make the payment using available payment options.
  • You will receive a confirmation along with the policy documents at your registered email address.

**Once the payment is made, you will get a payment confirmation at your registered email address.

Buying through HDFC Life's official website

  • Visit the official website of HDFC Life Insurance Company.
  • Take your cursor to the tab 'Plans'.
  • Click on the tab 'Pension Plans'.
  • Select the plan that you want to buy and click on the tab 'Buy Online' under the chosen plan, & Fill in the required details.
  • Confirm the details and click on the tab 'Buy Now'.
  • Choose the desired option 'Fill the form first and then pay'.
  • Review your form once and make the payment.
  • The company will share the policy documents at your registered email address.

**Once the payment is made, you will get a payment confirmation at your registered email address.

Contact Details of HDFC Life

Address: Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011.

E-Mail: buyonline@hdfclife.in
Chat on WhatsApp: +91 8291 890 569
SMS: SMS LIFE to 56161

1860 267 9999 (Mon-Sat 10 am to 7 pm IST)
1800-266-9777 (All days 9:00 AM to 9:00 PM IST)

Life Insurance Articles

HDFC Pension Plan: 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.

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.

What Our Customers Have to Say

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November 30, 2022

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Naval Goel

Reviewed By : Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.