HDFC Unit Linked Pension Plus
Product Info
UIN
101L029V01
Status
Withdrawn
Launch Date
26/06/2006
Withdrawn Date
08/10/2008
Product Overview
The HDFC Unit Linked Pension Plus is an insurance policy that is designed to provide a retirement income for life with the freedom to maximise your investment returns. Stride into your golden years of retirement with dignity and pride.
Product Description
- An outstanding investment opportunity by providing a choice of researched & selected investments
- Regular Loyalty Units to boost your fund value every year
- A post retirement income for life
- Flexibility to plan your retirement date
- Freedom to invest premium as per your preference
COMPARE & BUY SIMILAR PLANS
Unique Features
- HDFC Unit linked Pension is unit linked deferred pension plan.
- The plan provides 0.10% loyalty addition every year in terms of number of units
- The plan has high allocation charge in the 1st year.
Eligibility Criteria
| Eligibility Criteria | ||
| Entry Age | Minimum | 18 Years |
| Maximum | 65 Years | |
| Max age of Maturity | 75 Years | |
| Sum Assured | Minimum | Rs.65,463 |
| Maximum | No Limit, subject to satisfactory underwriting | |
| Policy Term | Minimum | 10 years |
| Maximum | 40 years | |
OneInsure App Benefits
Store Digitally | Get Premium Reminders | Service and Claim assistances | Empower Nominee
Product Benefit
- Vesting benefit :
- On the chosen vesting date, the policyholder will get the accumulated value of funds, which will be used to provide pension income.
- You can take 1/3rd of the fund value as tax-free cash lump sum and purchase annuity with the balance amount
- Purchase annuity from HDFC Standard Life or any other insurer.
- Death benefit :
Nominee will receive the unit fund value. Policy will terminate thereafter.
Other Policy Features
- Loyalty Units:
At the end of every policy year we will increase the number of units in each of your funds by 0.10% as long as your policy is force or paid - up - Single Premium Top-Up:
- You have paid all your regular premium to date for regular premium contract
- Each Single Premium Top-Up amount is at least Rs.5,000
- Changing your Investment Decisions:
- Switching :- Move Accumulated fund from one fund to another anytime
- Premium Redirection :- Pay your future premium into a different selection of funds,as per need
- Partial Withdrawal:
- In the First three years :-
- You may Not surrender the plan or withdraw ant portion of your funds from it
- If you stop your Regular Premium commitment before three years have passed , your funds will be held in suspense after deduction of surrender charge. These funds will be paid out to you at the end of the third year or the end of the revival period of 2 years , whichever is later - From the Fourth year onwards:-
- You can choose to surrender the policy at any time and the surrender value will be the value of the units in the funds
- You may Not withdraw ant portion of your funds ( other than in full ) at any point of the term of the contract till the vesting date
- Premium Payments:
Pay your future premium up to 15 days after the due date to fit in with your cash flows
Add-ons
Not Available
Charges
| Charges | ||||||
|---|---|---|---|---|---|---|
| Premium Allocation Charge | ||||||
| Premium Paid During Years(Rs.) | Allocation Rate | |||||
| Regular Premiums | 1st Year | 2nd Year onwards | ||||
| Upto 1,99,999 | 50% | 99% | ||||
| From 2,00,000 to 4,99,999 | 65% | 99% | ||||
| From 5,00,000 to 9,99,999 | 75% | 99% | ||||
| From 10,00,000 to 19,99,999 | 85% | 99% | ||||
| From 20,00,000 & Above | 90% | 99% | ||||
| Single Premium Top-Ups | 97.50% | 99% | ||||
| Policy Administration | A charges of Rs.20 per month is charged to cover regular administration costs. | |||||
| Charge by cancelling units proportionately from each of the funds you have chosen | ||||||
| Switching Charge | 24 Switches will give fee in a policy year and any additional switch will be charged Rs.100 Per switch | |||||
| Revival | A Charge of Rs.250 shall be levied for processing the revival | |||||
| Miscellaneous Charge | 12 Premium redirection requests will be free in a policy year, charge 250 per request | |||||
| Surrender | It is equal to 50% of the difference between the regular premiums expected & those paid in the first year of the contract | |||||
| Fund Management | In long Term, the key to build great maturity value is low FMC | |||||
| Daily Unit price already includes our low fund management charge of only 0.80% per annum of the Funds Value | ||||||
| Premium Charges | you can Increase, Reduce*or Stop your Regular Premiums at any time | The Minimum increase in regular premium amount is only 5,000/- Per Year | ||||
| All Applicable charges will continue to be Levied | ||||||
| Restart Your Regular Premiums within the Specified revival period | ||||||
| Alteration | The Fund Management charge will not exceed 2% per annum | |||||
| Surrender charge max. 100% of the fund, application for the first 3 Year | ||||||
| Rs.250 per request for premium redirection | ||||||
Exclusions
There are No exclusion in the plan
Tax Benefits
Tax benefits will be as per Section 80C & Section 10(10D) of the Income Tax Act, 1961
Claim Process
Know Claim Process of HDFC Unit Linked Pension Plus
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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