You pay a single premium today and choose to start receiving your annuity with a future start date of up to 10 years, at a rate which is guaranteed for life. 105% of the Single Premium Paid at the time of inception of the Policy. Each top-up premium has a lock-in period of 5 years, except when the policy is completely surrendered. This is dependent on interest rate levels and market movements. HDFC life offers a wide range of insurance solutions across the country, including insurance schemes related to Pension, Protection, Health, and Investment. 1,50,000 deduction under section 80C**, Convenient payment options - annual, half-yearly, quarterly or monthly premium payments, Do more with plans that offer pure protection, retirement planning and investment options, The fund will manage the allocation between equity and debt instruments dynamically, so that proceeds equal to the guaranteed benefit are provided. You will enjoy deductions by showing the premium amount that you have invested in the plan. single premium and top-up premium, HDFC Life Single Premium Pension Super Plan, HDFC Life Single Premium Pension Super Insurance Plan, Assured maturity benefit (on vesting) of 101% of single premium and all top-up premiums on the pension plan, Flexibility to choose single premium amount with option to invest further through top-up premiums, Guaranteed regular income on the annuity purchased from us. Future Income Calculator by HDFC Pension helps you in estimating how your retirement income and savings might grow from today untill the time you plan to retire. There are two conditions for surrendering the HDFC Life Single Premium Pension Super Plan. We thank you for being a valued customer", HDFC Life Single Premium Pension Super Plan, Reduce taxable income by up to Rs. However, the earlier you start planning, the greater would be the amount that you would collect in your retirement corpus. The premiums for the HDFC Life Single Premium Pension Super plan have the following limits: HDFC Life Single Premium Pension Super plan is an ideal channel to create a retirement fund so that you can enjoy a post retirement income for life. The excess income earned in the discontinued fund that is above the minimum guaranteed interest rate will be split out into the discontinued policy fund. The insurance company had a competitive claim settlement ratio of 99.41% in the financial year 2013-14. You will receive this letter within 10 days of the decision from the insurer. If you surrender the policy before the end of 5 years from the date of inception of the policy then the fund value will be moved to the Discontinued Policy Fund and the … The information on this website is derived from publicly available sources and BankBazaarInsurance cannot verify or confirm the genuineness, truth, veracity or authenticity of this information. Any information displayed here is only for informational purposes and bankbazaarInsurance.com does not endorse the same. Fund Management Charge - The FMC is already included in the daily unit price. Since the policy is a single premium product, the Discontinuance charges will be nil. A. Therefore you can explore the HDFC Life Single Premium Pension Super Plan that is a unit-linked plan. Note: The commission varies depending upon the Product in each category, tenure, amount of premium and premium paying term *For Group Products commission payable is 5% of the premium with a ceiling on the maximum payout as defined by Insurance Regulatory and Development Authority of India (IRDAI) from time to time. Distance marketing refers to insurance policies that are not sold through face-to-face interactions. A pension calculator helps you draw a financial plan based on your target goal. These factors are related to the age of the customer and the number of years of insurance that he/she would be purchasing. It should be noted that the plan can only be purchased on a single life basis for a policy term of 10 years. There are two conditions for surrendering the HDFC Life Single Premium Pension Super Plan. Visitor's information submitted on the website may be shared with the Insurers. Presenting HDFC Life Single Premium Pension Super Plan, a one time investment plan and a unit-linked single premium policy that creates a corpus over the policy term to generate post-retirement income for life. The coverage under HDFC Life Single Premium Pension Super includes the following: The way in which this vesting benefit will be paid to you is based on regulations, and is described in the ‘Policy Proceeds’ section below. This charge is deducted by cancellation of units from the fund, and is guaranteed for the entire policy term. To know the right investment, please fill the details below and our policy experts will get in touch with you. This plan from HDFC Life utilizes an investment fund known as Pension Super Plus 2012 in order to aid in the growth of wealth and can be availed by anyone interested in having a post-retirement income based on a one-time investment. A. As the fund reaches maturity, the allocation will shift to fixed interest or cash. The rate may be revised in the future based on IRDAI regulations. All rights reserved. The charge is also guaranteed for the entire policy term. Unit Linked Life Insurance plans are different from traditional insurance plans, and are hence subject to different risk factors. HDFC Life Single Premium Pension Super Plan, Key Features of Single Premium Pension Super Plan, Benefits of Single Premium Pension Super Plan, Eligibility Criteria of HDFC Life Single Premium Pension Super Plan. A. Investment Guarantee Charge - The Investment Guarantee Charge is already included in the daily unit price. Disclaimer:"Visitors are hereby informed that A&A Dukaan Insurance Web Aggregator Private Limited (bankbazaarInsurance.com) has surrendered its Insurance Web Aggregator License and therefore insurance products are no longer available for comparison and/or purchase on this website. Name of the Fund- Pension Super Plus 2012, Cash, Money Market Instruments, Deposits Investment- 0% to 40%, Government Securities, Fixed Income Instruments- 40% to 100%. You can surrender the policy in case of an emergency. After the investigation, the claim payout will be made as per the company regulations. 101% of the total premiums, i.e., single premium and top-up premium paid will be provided as assured benefit, 105% of the total premiums (single premium and top-up premium) paid. If your claim has been rejected by the insurance company, you will receive a letter stating the same. Miscellaneous Charges - If the policyholder initiates a policy alteration request, he/she will be charged Rs.250 per request. 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For more details on risk factors, terms and conditions, please read the Product Brochure carefully and/or consult Financial Consultant before taking a decision. A. The nominee of the policyholder can take the amount as annuity from HDFC Life or withdraw the proceeds completely. The entire policy proceeds can be used to buy annuity according to prevailing regulations. The NAVs of the units may increase or decrease on the basis of fund performance and other factors that affect the capital market. The early 30s are an optimum time to take a look at retirement planning. The fund has a dynamic asset allocation between fixed income assets and equities. Your free-look period will increase to 30 days if you have purchased the policy through distance marketing. In the free-look period, you are allowed to return the policy if you don’t find it interesting. BankBazaarInsurance is not an insurance intermediary and hence does not endorse or solicit any such products. However, this decision will be subject to underwriting approval. Life insurance provided by this policy throughout the policy term is an added benefit.