HDFC Life Personal Pension Plus
Product Info
UIN
Status
Launch Date
Withdrawn Date
Product Overview
HDFC Life Personal Pension Plus Plan is a Participating Regular Premium deferred pension plan that offers assured benefit on death or at vesting. The product offers an opportunity to participate in the profits of participating funds of the company by way of bonus payable at the time of vesting. The plan is ideal for individuals who seek to plan for their retirement to get adequate corpus to fulfill all their post retirement goals.
Product Description
- Flexibility to choose your investment horizon between 10 to 40 Years.
- Assured benefit equal to 101% of all Regular Premium paid till date on death or at vesting.
- Participate in the profit of the participating fund of the company by way of reversionary bonuses and any terminal bonus.
COMPARE & BUY SIMILAR PLANS
Unique Features
- HDFC life Personal Pension Plan is a traditional retirement plan with the bonus.
- This plan provides an assured benefit of 101% of the total premiums paid on the death or at vesting.
Eligibility Criteria
| Eligibility Criteria | ||||
| Age at Entry (Min) | 18 years (Age last birthday) | |||
| Age at Entry (Max) | 65 years (Age last birthday) | |||
| Max age of Maturity | 75 years (Age last birthday) | |||
| Sum Assured | Minimum - Rs. 2,04,841 | Maximum - No limit | ||
| Premium | ||||
| Frequency | Minimum | Maximum | Policy Fee Per Installment | Conversion factor |
| Annual | Rs.24,000 | No Limit | 200 | 1 |
| Half-Yearly | Rs.12,000 | 110 | 0.51 | |
| Quarterly | Rs.6,000 | 60 | 0.26 | |
| Monthly | Rs.2,000 | 25 | 0.0875 | |
| Mode Available | Monthly, Semi-annually, Quarterly, Annually | |||
| Policy Term | 10 to 40 | |||
| Premium Paying Term | Equal to Policy Term | |||
OneInsure App Benefits
Product Benefit
- Maturity Benefits:-
- SA benefit of 101% of all Regular Premium paid till date
- Sum Assured + Accrued bonus
- Death benefits:-
- 101% of all Regular Premium paid till date to Nominee
- The nominee utilises the Death benefits Fully or Partly.
- Nominee can withdraw the entire death benefit as Lump Sum Amount
Other Policy Features
| Feature | Description | |||||
|---|---|---|---|---|---|---|
| Sample Guaranteed Surrender Value Factors As % of Premium Paid | ||||||
| Year / Policy Term | 15 Year | 20 Year | 25 Year | 30 Year | 35 Years | 40 Years |
| 3 | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% |
| 4 | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% |
| 5 | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% |
| 10 | 67.10% | 60.00% | 57.10% | 55.50% | 54.40% | 53.00% |
| 15 | 90.00% | 76.70% | 68.80% | 64.50% | 61.90% | 60.00% |
| 20 | 90.00% | 80.60% | 73.60% | 69.30% | 66.30% | |
| 25 | 90.00% | 82.70% | 76.50% | 72.50% | ||
| 30 | 90.00% | 84.10% | 78.80% | |||
| 35 | 90.00% | 85.50% | ||||
| 40 | 90.00% | |||||
| Notes: *No surrender is permitted during the first three years of the policy. After the first three policy years, the following surrender charge is applicable. |
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| Sample Guaranteed Surrender Value Factors As % of Premium Paid | ||||||
| Year / Policy Term | 15 Year | 20 Year | 25 Year | 30 Year | 35 Years | 40 Years |
| 3 | 5.60% | 2.80% | 1.40% | 0.70% | 0.30% | 0.20% |
| 4 | 6.40% | 3.20% | 1.60% | 0.80% | 0.40% | 0.20% |
| 5 | 7.40% | 3.70% | 1.80% | 0.90% | 0.50% | 0.20% |
| 10 | 14.90% | 7.40% | 3.70% | 1.80% | 0.90% | 0.50% |
| 15 | 30.00% | 14.90% | 7.40% | 3.70% | 1.80% | 0.90% |
| 20 | 30.00% | 14.90% | 7.40% | 3.70% | 1.80% | |
| 25 | 30.00% | 14.90% | 7.40% | 3.70% | ||
| 30 | 30.00% | 14.90% | 7.40% | |||
| 35 | 30.00% | 14.90% | ||||
| 40 | 30.00% | |||||
| The Guaranteed Surrender | The Guaranteed Surrender Value shall is a percentage of all the regular premiums paid. | |||||
| Policy Acquires a Guaranteed Surrender Value provide first 3 Years Premium have been paid. | ||||||
| Bonuses | ||||||
| Reversionary Bonus | A Simple Reversionary Bonus as % of Sum Assured on Vesting, Declared at the end of financial year. | |||||
| Once added to the Policy, the bonus is Guaranteed to be payable on vesting. | ||||||
| Interim Bonus | If the Vesting benefit is payable before the next planned reversionary bonus declaration, an Interim Bonus may be added. | |||||
| Terminal Bonus | Terminal Bonus may be added to the Policy on Vesting and enable the company to pay a fair share of the surplus at the end. | |||||
| Revival | It has to be paid at all the outstanding Premium & interest on the outstanding Premium & Application taxes. | |||||
| A Charge of Rs.250 shall be levied for processing the revival. | ||||||
| Lapse | Event of non payment of Premium due under the policy within the grace period, the policy has not acquired a surrender value. | |||||
| Risk Cover will cease & no benefit will be payable in case of Lapsed Policies. | ||||||
| Alterations | Alteration to premium frequency is allowed. | |||||
| Paid-up Benefits | The Paid-up Sum Assured shall be the Sum Assured on vesting by the ratio of the premiums payable under the policy. | |||||
| Death Benefit for a paid-up policy shall be 101% of Regular Premium. | ||||||
Add-ons
Not Available
Exclusions
There is No Exclusions in this plan.
Tax Benefits
Tax benefits will be as per Section 80C & Section 10(10D) of the Income Tax Act, 1961
Claim Process
Company Overview
HDFC Life is a joint venture between Housing Development Finance Corporation Limited (HDFC), India's leading housing finance institution and Standard Life plc, the leading provider of financial services in the United Kingdom.HDFC Ltd. holds 70.65% and Standard Life (Mauritius Holding) 2006 Ltd. holds 26.00% of the equity in the joint venture while the rest is held by others.
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