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HDFC Life Insurance Pension Plans

An individual can earn enough during his working years to support himself and his family comfortably. But the real challenge begins when retirement dawns and expenses show no sign of slowing down. Inflation, rising healthcare costs, needs of growing up children all have to tackled in life’s later years. For this planning early for finances to support retirement years is necessary.

HDFC Life has a number of pension plans to secure your retirement years. Its plans provide insurance cover with growing savings options, so that your funds continue to grow and provide you with a nest egg for retirement when you need it.

Types of HDFC Life Pension Plans

that suits an individual’s needs for a secure financial status in life’s later years. Let’s take a look at these plans:

HDFC Life Personal Pension Plus

HDFC Life Personal Pension Plus is a participatory traditional pension plan with an investment horizon of 10-40 years. The plan lets you choose payment of premiums on monthly/quarterly/half-yearly/annually and pays an assured benefit of 101% of all premiums paid on death. You can also choose from a range of annuity options at vesting (on maturity) and get guaranteed income for life. Further, the plan provides tax benefits under 80 CCC.

HDFC Life Pension Super Plus

This is a unit-linked pension plan that lets you accumulate a corpus fund to see you through the retirement years. The plan invests premiums dynamically between fixed income avenues and equities. Death benefits to nominee in case of insured’s death, 102.5% of premium allocation 11th year of investment onwards and assured benefits of fund value or 101% of premiums are other features of the plan.

HDFC Life Single Premium Pension Super Plan

HDFC Life Single Premium Pension Super Plan, a unit-linked single premium policy that creates a corpus over the policy term to generate post-retirement income for life. It gives you the flexibility of paying a single premium and additional top-up premiums. It also provides an assured value of 101% of your single and top-up premiums as maturity benefits (on vesting).

HDFC Life Guranteed Pension Plan

HDFC Life Guranteed Pension Plan is a plan that provides you with guaranteed income to enjoy your retirement years. There is guaranteed addition of 3% for every completed policy year. Assured death benefit of total premiums paid compounded at an annual rate of 6%.

HDFC Life New Immediate Annuity Plan

HDFC Life New Immediate Annuity Plan is a non-linked traditional annuity plan that assures financial independence after your retirement. It also gives you choose frequency of annuity payment-monthly/quarterly/half-yearly or annually and you may receive this as long as you or your partner dies.

HDFC Life Qualifying Recognized Overseas Pension Scheme (QROPS)

If you spent your working life in United Kingdom but wish to transfer the same to India where you wish to spend your last years, then Qualifying Recognized Overseas Pension Scheme (QROPS) is for you. This is a tax efficient retirement product registered as QROPS with HMRC and has following benefits:

  • Tax Efficient transfer of your pension fund accumulated in the UK to India
  • Post retirement in India, you can earn a steady income
  • Your funds can continue to grow in India

HDFC Life Click2Retire - ULIP

It is an online unit linked insurance plan, particularly designed to fulfil your retirement needs. The plan helps you spend your retirement days in comfort and style by providing comprehensive coverage and a number of flexibilities. The HDFC Life Click2Retire also enables you to invest in three different funds such as Pension Equity Plus fund, Pension Income Fund and Pension Conservative Fund and get assured returns on your investments. The plan comes with a free-look period 30 days and grace period of 30 days. The minimum entry age required to purchases this plan is 18 years and the maximum age is 65 years.

An example of pension plan

Suppose Ramesh is a public sector worker in India who was offered a voluntary retirement scheme at age of 45 by his company. He accepted the offer and invested the lump sum money he received in the HDFC Life Single Premium Pension Super Plan, a unit-linked single premium policy. At the vesting age of 55 years, he continued to earn an annuity of Rs. 30,000 per month and was able to sustain his lifestyle. In the event of his death during the term, his wife would receive the fund value or assured benefit of 105% of premium paid.

Why HDFC Life Pension Plan?

Coming from the house of HDFC, India’s leading housing finance company, HDFC Life Pension Plans cater to the financial needs of an individual in their later stage of life. They also incorporate features like flexibility, tax savings and guaranteed in addition to death benefits.

HDFC Life is a joint venture between India’s Housing Development Finance Corporation Limited (HDFC), and UK’s Standard Life plc. HDFC Life's has Protection, Investment, Pension, Savings and Health plans. Customers can add on riders, to their policies at a nominal price. With 400 branches across the country the company has a fair claim settlement ratio and is geared up to serve customers better.

Other HDFC Life Insurance Plans

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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HDFC Life Pension Plan Reviews

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  • HDFC Life Life Insurance
    "Useful Plan for the child education"
    0.5 4.0/5 "Great!"
    My life insurance was purchased from HDFC LIFC. When i purchased the credit card, they have approached me for the life insurance and its child plan hence the premium amount is automatically deducted from my account. I didn't compare this policy with other plan. Its a tax benefitable policy.
    Was this review helpful? 1
    , chennai
    Reviewed on Dec 05, 2019
  • HDFC Life
    HDFC Life Life Insurance
    "Better Policy"
    0.5 4.0/5 "Great!"
    I'm having a policy from HDFC LIFE. When I taken the home loan, they have provided me a life insurance policy hence I'm not aware of the policy details. I had done the payment for once, so it avails until the loan close. I have paid the premium amount of Rs. 2.5L which covers for 11 years.
    Was this review helpful? 0
    , navi mumbai
    Reviewed on Nov 25, 2019
  • HDFC Life Life Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    When i purchased the two wheeler loan, they have given me a additional life insurance policy from HDFC LIFE. This policy has a coverage value of Rs. 1 lakhs. I have paid the premium amount of Rs. 1300 which is a one shot payment covers for 3 years. They have sent the documents to my mail id.
    Was this review helpful? 0
    , chennai
    Reviewed on Oct 23, 2019
  • HDFC Life Life Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have started life policy in HDFC LIFE 2years ago, am paying premium of 43K per year and the tenure is 15years. I did not remember the policy name. Am getting the statements within 5mins through my email address when I make the payment through online.
    Was this review helpful? 0
    , kochi
    Reviewed on Oct 19, 2019
  • HDFC Life Life Insurance
    "Good insurer"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance on HDFC LIFE on 5 months before only. The policy is for 20 years. I am paying premium on monthly package the amount which is nominal. While getting a policy my agent has given an information about the policy details. My father has taken an insurance for me. Use to do payment through an online. It covers up to myself only.
    Was this review helpful? 0
    , amritsar
    Reviewed on Oct 17, 2019
  • HDFC Life Life Insurance
    "Better Policy"
    0.5 5.0/5 "Blown Away!"
    From my HDFC LIFE, i have taken my life insurance. The executive came to my place and informed me about the policy details and gave me some offer since it was good, i have selected them. I have been paying the premium amount of Rs. 2500 per month. The policy term is 15 years. I am not sure about the sum assured amount.
    Was this review helpful? 0
    , bangalore
    Reviewed on Oct 10, 2019
  • HDFC Life Life Insurance
    "People more aware of their offerings &its better than others"
    0.5 4.0/5 "Great!"
    Basically I did not have any idea about the policy and it was just referred by a friend so have opted the policy, just for an investment perspective. I have received the insurance paper. Their executive explained me about the benefits. I pay 50K to 55K through online and tenure is 12 years.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Sep 18, 2019
  • HDFC Life Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    HDFC LIFE is offering a good benefits and the charges are nominal when compared with other insurer so I took a term plan with them. They have explained me about benefits of the policy. They need some improvement on the customer service. I have paid 24K for a year.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Sep 03, 2019
  • HDFC Life Life Insurance
    "Average Policy"
    0.5 4.0/5 "Great!"
    Bought my money back policy from HDFC LIFE. Taken the policy in the year of 2016. Earlier i had a salary account with HDFC hence the manager is forcefully to take this policy. I am paying the premium amount of Rs. 25000 annually. I need to pay the premium for 5 years after 5 years there is a lockin period. I get the sum assured amount of Rs. 2.50 lakhs.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 27, 2019
  • HDFC Life Life Insurance
    "Quickest way to insure"
    0.5 5.0/5 "Blown Away!"
    Its very to take a policy through online from HDFC. The claim ratio is very nice hence i have chosen the HDFC LIFE. I'm satisfied with the coverage value of Rs. 50 lakhs. I have chosen the annual payments mode. They do have a partial disability cover is included.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 25, 2019
  • HDFC Life Life Insurance
    "Coverage for the premium is good"
    0.5 4.0/5 "Great!"
    Chosen my term insurance from HDFC LIFE. HDFC has better claim ratio thats the reason i opted the policy. I make the premium through online every time. I pay the premium amount of Rs. 6600. They have included with disability cover and accidental cover. The premium is less since i purchase the policy through online.
    Was this review helpful? 1
    , bangalore
    Reviewed on Aug 16, 2019
  • HDFC Life Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I took a term insurance with HDFC LIFE, I have compared with online site and found they are having good payment rates. The customer service is good. I am satisfied with the benefits. I am doing monthly premium of Rs.2000 and need to pay till 15 years. The payment mode is online.
    Was this review helpful? 1
    , bangalore
    Reviewed on Aug 06, 2019
  • HDFC Life Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I have a term insurance with HDFC LIFE because the benefits are too beneficial. I am paying 9,400 rupees for a year through net banking. The policy covers till the age of 85. The nominee would be getting a benefit of 75L. They have provide insurance documents on time.
    Was this review helpful? 0
    , mumbai
    Reviewed on Aug 06, 2019
  • HDFC Life Life Insurance
    "Satisfied"
    0.5 4.0/5 "Great!"
    Recently I have purchased a super savings policy from HDFC LIFE. I need to pay the premium for 8 years and after that I will get a profit for every year. They will be providing 10K on monthly basis. I have taken a policy premium of 75K per year. The payment mode is cheque.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 02, 2019
  • HDFC Life Life Insurance
    "If you want save tax, purchase this policy"
    0.5 5.0/5 "Blown Away!"
    Bought my life insurance policy from HDFC LIFE. For the tax benefit purpose, i purchase this policy. I am not sure about the plan name. They will double the money in returns at the time maturity and its a long term plan. I pay the premium amount of Rs. 24000 annually.
    Was this review helpful? 0
    , new delhi
    Reviewed on Aug 01, 2019
  • HDFC Life Life Insurance
    "Excellent Plan"
    0.5 5.0/5 "Blown Away!"
    Bought my life insurance from HDFC LIFE. Every year i need to invest the money of Rs. 50000 for first five years. Next 5 years will be a lockin period. After 10 years, i get the money of Rs. 18000 every year for 5 years and at the time of maturity i get a sum assured amount of Rs. 10 lakhs. I bought this policy for daughter's future.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 31, 2019
  • HDFC Life Life Insurance
    "Satisfactory"
    0.5 5.0/5 "Blown Away!"
    Actually I was looking for a investment plan with HDFC BANK and they have provided me a life insurance. I never asked them for a policy but still they provided me an opportunity then I researched and found the benefits are also good. I need to pay the premium of 30K half yearly through online.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jul 31, 2019
  • HDFC Life Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I have chosen the life insurance policy from HDFC LIFE and the plan is Super Income. For the future salary purpose, i have selected the policy. In this policy, i need to pay the premium for first 10 years and the next years will be lockin period and after i can get a lumpsum amount or else i can convert into monthly payment. I pay the premium amount of Rs. 25000 per annum. They are providing the sum assured amount of Rs. 1.87 lakhs.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 30, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have taken the CHILDREN PLAN with the HDFC LIFE where the maturity period of the policy is for 15 years with the policy. The coverage is for self with the policy is for self added on that the benefit of the policy is in case of any incident happened will be getting the amount and after the maturity there is a sum assured.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 29, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I am using the life insurance policy with HDFC LIFE and the maturity period of the policy is for 7 years but the premium have to pay for 5 years. The documents submitted through the offline. The sum assure value of the policy is for 5L. I got the hard copy too.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jul 27, 2019
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