HDFC Life Insurance Company is one of India’s leading private sector life insurance companies. Founded in the year 2000, the company is a joint venture between HDFC Ltd., India’s leading housing finance institution and Standard Life Aberdeen, a global investment company. HDFC Life Insurance Company offers a wide range of innovative individual and group life insurance products to cater to the needs of diverse customer segments in the country. With its wide network, multi-distribution channels, HDFC life is offering excellent service and insurance solutions to people of the country. Along with pure insurance plans, the company also offers savings plans, wealth plans, pension plans and unit-linked investment plans to address the varying needs of its customers.
Life post-retirement needs to be well planned in advance during the working career. Retirement planning is a crucial process in order to secure financial future post-retirement. To maintain the same lifestyle and for unforeseen events, post-working life, building enough corpus to avail regular income is really important. Pension plans are the specially crafted financial tools to avail future financial security. Pension plans are the investment products that help to build a big corpus through regular investments and provide regular income after retirement. HDFC Life Insurance offers a variety of pension plans with various attractive features.
HDFC Life offers various pension plans each with its own unique feature to suit the requirements of people. Let’s take a look at various pension plans offered by the company.
Plan Name |
Entry Age |
Vesting Age |
Policy Term |
Premium Payment Term |
HDFC Life Pension Guaranteed Plan |
30 years to 80 years |
– |
– |
Single pay |
HDFC Life Guaranteed Pension Plan |
35 to 65 years |
55 to 75 years |
10 to 20 years |
5,7 and 10 years |
HDFC Life New Immediate Annuity Plan |
30 years to 85 years |
– |
– |
– |
HDFC Life Pension Super Plus |
35 years to 65 years |
55 years to 75 years |
10 years to 20 years |
Same as the policy term |
HDFC Life Single Premium Pension Super Plan |
40 years to 75 years |
50 years to 85 years |
10 years |
Same as the policy term |
HDFC Life Assured Pension Plan-ULIP |
18 years to 65 years |
45 years to 75 years |
10 years, 15 years and 35 years |
Single pay/limited pay (8,10 and 15 years) |
HDFC Life Personal Pension Plus Plan |
18 years to 65 years |
55 years to 75 years |
10 years to 40 years |
Same as the policy term |
HDFC Life Click 2 Retire Plan |
18 years to 65 years |
45 years to 75 years |
10 years to 35 years |
Single/limited pay/same as that of policy term in regular pay |
HDFC Life Pension Guaranteed Plan is a single premium annuity plan that aims to provide a regular stream of income after retirement for a lifetime. The plan comes with a wide range of annuity options along with death benefits involved. There are various attractive features and benefits offered by this plan.
Features and Benefits of HDFC Life Pension Guaranteed Plan
Eligibility Criteria and Other Terms for HDFC Life Pension Guaranteed Plan
Eligibility Criteria |
Minimum |
Maximum |
Entry age
|
30 years 30 years 45 years |
85 years |
Purchase price
|
INR 42,076 INR 1,60,261 INR 76,046 |
No limit |
Annuity payout per instalment
|
INR 12,000 INR 6,000 INR 3,000 INR 1,000 |
No limit |
Premium payment term |
Single pay |
HDFC Life Guaranteed Pension Plan is designed to provide financial security and stability after retirement with a regular stream of income with various amazing features. The plan can be availed only on a single life basis.
Features and Benefits of HDFC Life Guaranteed Pension Plan
Eligibility Criteria and Other Terms for HDFC Life Guaranteed Pension Plan
Eligibility criteria |
Minimum |
Maximum |
Entry age |
35 years |
65 years |
Vesting age |
55 years |
75 years |
Policy term |
10 years |
20 years |
Premium payment term |
5,7 and 10 years |
|
Premium payment frequency |
Yearly/ half-yearly/quarterly/monthly |
|
Premium rate |
INR 24,000 |
No limit |
HDFC Life New Immediate Annuity Plan is a non-linked traditional annuity plan that provides financial security for golden yearly with regular annuity payouts. The product comes with many amazing features to provide financial independence post-retirement.
Features and Benefits of HDFC Life New Immediate Annuity Plan
Eligibility Criteria and Other Terms for HDFC Life New Immediate Annuity Plan
Eligibility Criteria |
Minimum |
Maximum |
Entry age |
30 years |
85 years |
Annuity payout per instalment
|
INR 10,000 INR 5,000 INR 3,000 INR 1,000 |
No limit |
Annuity payment frequency |
Yearly/ half-yearly/quarterly/monthly |
|
Purchase price |
Based on age and annuity option chosen |
HDFC Life Pension Super Plus plan provides an excellent solution for regular income during retirement life in order to maintain the lifestyle and financial stability. As the plan is linked to the market, helps in maximising the return of money invested in the plan.
Features and Benefits of HDFC Life Pension Super Plus
Eligibility Criteria and Other Terms for HDFC Life Pension Super Plus
Eligibility criteria |
Minimum |
Maximum |
Entry age |
35 years |
65 years |
Vesting age |
55 years |
75 years |
Policy term |
10 years |
20 years |
Premium payment term |
Same as that of the policy term |
|
Annual premium amount |
INR 24,000 |
No limit |
Annuity payment frequency |
Yearly/ half-yearly/quarterly/monthly |
HDFC Life Single Premium Pension Super Plan is a unit-linked, single premium retirement plan by HDFC Life that provides protection for the retirement life by maximising the returns on investment. This HDFC pension plan comes with various attractive features to provide a financial cushion in the later years of life.
Features and Benefits of HDFC Life Single Premium Pension Super Plan
Eligibility Criteria and Other Terms for HDFC Life Single Premium Pension Super Plan
Eligibility criteria |
Minimum |
Maximum |
Entry age |
40 years |
75 years |
Vesting age |
50 years |
85 years |
Policy term |
10 years |
|
Premium payment term |
Same as the policy term |
|
Annual premium amount |
INR 25,000 |
No limit |
Annuity payment frequency |
Yearly/ half-yearly/quarterly/monthly |
HDFC Life Assured Pension Plan is a unit-linked investment plan that provides market-linked returns with loyalty additions that aims to provide hassle-free retirement life. With the potential for higher returns, the plan helps in achieving retirement goals.
Features and Benefits of HDFC Life Assured Pension Plan-ULIP
Eligibility Criteria and Other Terms for HDFC Life Assured Pension Plan-ULIP
Eligibility criteria |
Minimum |
Maximum |
Entry age |
18 years |
65 years |
Vesting age |
45 years |
75 years |
Premium payment term |
Single pay/ limited pay (8,10 and 15 years) |
|
Policy Term |
10, 15 to 35 years |
|
Premium payment frequency |
Single/annually/half-yearly/quarterly/monthly |
HDFC Life Personal Pension Plus is a traditional participating HDFC pension plan that provides stable and regular income post-retirement for the corpus amount invested over the years. The plan can be availed only on a single life basis.
Features and Benefits of HDFC Life Personal Pension Plus Plan
Eligibility Criteria and Other Terms for HDFC Life Personal Pension Plus Plan
Eligibility criteria |
Minimum |
Maximum |
Entry age |
18 years |
65 years |
Vesting age |
55 years |
75 years |
Policy term |
10 years |
40 years |
Annual premium amount |
INR 24,000 |
No limit |
Premium payment frequency |
Single/annually/half-yearly/quarterly/monthly |
HDFC Life Click 2 Retire Plan is one of the popular HDFC pension plan online offered by HDFC Life for the investors seeking a good retirement investment option. It is a unit-linked plan that create wealth by maximising returns based on market performance.
Features and Benefits of HDFC Life Click 2 Retire Plan
Eligibility Criteria and Other Terms for HDFC Life Click 2 Retire Plan
Eligibility criteria |
Minimum |
Maximum |
Entry age |
18 years |
65 years |
Vesting age |
45 years |
75 years |
Policy term |
10 years |
35 years |
Premium payment term |
Single pay/same as that of policy term in regular pay |
|
Annual premium amount
|
INR 50,000 INR 25,000 |
No limit |
Premium payment frequency |
Single/annually/half-yearly/quarterly/monthly |
There are numerous pension plans available in the market. HDFC Life offers one of the best retirement plans. There are a few reasons to choose HDFC pension plans.
HDFC pension plans can be bought through both online and offline mode. Some policies are specially designed for the digital platform. It’s quite simple and convenient to buy HDFC pension plans online. HDFC retirement plans can be easily bought on Turtlemint platform also.
Following are the simple steps to follow for purchase online:
Premium payment for HDFC pension plan can be done online in a few clicks. Following are the mode of premium payments available
Annuity plans pay regular income as per mode is chosen (monthly/quarterly/half-yearly/yearly) on the corpus invested by the investor. Basically, the amount invested over the period of time is accumulated and used to buy the annuity option. Once the payment is over, annuity payout will start to begin. For example, Mr Atul aged 45 has invested in HDFC retirement plan for 15 years of the term. Let’s say he makes a premium payment for 15 years. When he retires at the age of 60, vesting age, the premium paid along with other added benefits is accumulated as retirement corpus. Annuity phase will begin and he will start receiving his regular annuity payouts as per the mode that is chosen. Let’s assume he has taken life annuity plan which will pay him annuity regularly for lifetime.
The annuity plan should be opted based on the age at which you are investing and the age at which you are expecting to retire. If you are investing at the age which is close to retirement age, then it’s ideal to opt for an immediate annuity which will start paying regular annuity as soon as you invest. In case you are buying a plan much earlier, you can go with deferred annuity option which will start annuity payouts after a certain period of time.
HDFC retirement plan policy status can be checked online very easily and conveniently. Here is a simple process to follow
Yes. HDFC pension plans can be renewed online just by making renewal premium payment.
For policy cancellation, you need to submit the surrender form along with all the relevant policy documents to nearest HDFC Life branch office. The cancellation process will begin within 72 hours of submission of the request. However, surrender may vary for each policy type depending on its terms and conditions.